TRUST AND ESTATE PLANNING

No matter what your net worth, it’s important to protect your legacy with an individualized and well-crafted trust and estate plan.

TRUST AND ESTATE PLANNING WILL NOT ONLY INFLUENCE YOUR OVERALL FINANCIAL PLAN, BUT IT IS ALSO CRITICAL TO PROTECTING YOUR LEGACY. PLANNING AHEAD IS ONE OF THE GREATEST FINANCIAL GIFTS YOU CAN GIVE TO THOSE YOU LOVE.

WILLS

The purpose of a will is very straightforward and provides your executor the ability to carry out your final wishes. It is important to note that without a will, state law will determine what happens to your children and your assets. In other words, if you die without a will (known as dying “intestate”), the state will decide how your property is distributed, which may not be in accordance with your intentions.  In addition, the lack of direction to your heirs may cause emotional stress, confusion and adversity that could otherwise be avoided.

POWER OF ATTORNEY

Powers of Attorney provide you with the ability to specify who will manage your affairs in the face of incapacity. When an individual becomes incapacitated, the two main areas of concern are who will manage the estate and how will healthcare be provided. Healthcare and financial matters can be made using properly constructed Powers of Attorney.

TRUSTS

There are many different kinds of trusts available to help you manage your affairs and determine how your assets are to be managed and distributed after death. Trusts can be revocable, such that you, the grantor can amend them during your lifetime, or irrevocable. A trust can give you the peace of mind that your future wishes are taken care of, that the needs of spouses and children are met, and that your estate is administered in an orderly fashion.

PROBATE

In basic terms, probate involves two steps, paying the debts that you owe and transferring your assets to your heirs. A state court oversees the process. If you have a valid will, you decide how your estate is transferred during probate, if not, state law governs. An executor or administrator is appointed by the court to collect the assets, pay the debts and expenses and distribute the remainder of the funds. This is a time consuming and often expensive process. However, proper estate planning can minimize the probate estate and facilitate a timely an orderly transfer of assets.

Of course, good estate planning needs a team of professionals. Attorneys, accountants and other financial professionals work together to craft a well thought out plan that not only meets your needs financially, but emotionally as well. The professionals at Casey Neilon have the experience, personal knowledge and compassion to help you navigate through this process.

TRUST AND ESTATE PLANNING


Probably the single biggest mistake in estate planning, is to not have any plan at all. In addition to assistance with coordinating and monitoring your trust and estate plan, we also offer services that can span the life of your trust. We can advise you on such topics as wills, life insurance, durable powers of attorney advance directives and probate. Planning and preparation can minimize taxes and other costs as well as provide peace of mind knowing your directions will be followed.

Estate planning and trust administration is more complicated than just drafting legal documents. Helping our clients navigate through the complexities to develop the right approach to meet your goals is our passion. Asking the right questions is an important part of the planning process, and our in depth knowledge of our client’s financial picture gives us the necessary background to create a plan that meets their needs.