Estate Planning Requires Forethought
Preserving Your Family's Wealth for Future Generations
Whether you are planning the parameters of your future medical care or establishing support for loved ones upon your death, the Law Offices of Weiss, Tom & Trapanese, LLC can help with all aspects of trusts and estates issues, including:
- Estate planning
- Estate tax issues
- Choosing the appropriate executor
- Living wills
- Living trusts
- Wills drafting
- Power of Attorney
Securing your legacy
You work hard for your family, so knowing that you have planned for their long-term well-being and financial security can bring you comfort. We thoroughly analyze your estate and strategize the best means of transferring your assets, minimizing taxes, establishing guardianship for your children, supporting personal philanthropic causes and protecting your loved ones.
Draft your living will and last will and testament
An estate plan is essential at every stage of your life. Your Power of Attorney allows a trusted loved one to make decisions in your stead. Â Your living will sets the parameters for medical intervention should you become incapacitated. This assures that when you are most vulnerable, your wishes will be honored.
Your last will provides the opportunity to distribute your property, establish care for your children and otherwise express your wishes upon your death. A will is necessary if you intend to leave property to a person or entity other than a blood relative, a friend or a charity. If you die without a will, the court determines how your property is distributed, and who cares for your children, and who is making decisions that might not reflect your desires.
When Wills alone are not enough
Sometimes, a Will is not enough. Trusts are another effective way of a dealing with your estate plan. Some individuals do not want Wills, as they are a public document filed with the Surrogate. In those instances a trust may be useful. Sometimes, a trust is created inside the Will to protect a beneficiary. Other times, the Will directs the assets of the estate to go directly to a previously created trust. This is called a pourover trust.
We can draft valid wills and estate planning documents that ensure your intentions are honored.
With respect to your estate planning needs, our attorneys have the experience to assist you in developing a sound estate plan that meets your needs. We can draft valid wills, trusts and other estate planning documents that ensure your intentions are honored.
Changing your will
As your life changes, so might your estate plan. You may need to update your will throughout your life. We will update your will so as to address changes in your financial situation, marital status, number of children, philanthropic interests and general lifestyle decisions.
Appointment of a guardian for your minor children
If you have minor children, your will allows you to make decisions about their future care. This is especially crucial if you are a single parent or if both parents die in a common incident. If you do not name a guardian, the court will appoint a guardian for your children and can make decisions adverse to your ultimate parenting goals.