Special Needs Trusts for Your Loved One
October 2, 2015
No one likes to think about his or her eventual death, but it is important to plan for it. Good estate planning can prevent headaches and anguish for your loved ones. It may even save your family thousands of dollars in taxes. Perhaps the most important reason to plan for your estate is this: if you don’t, the state and federal government will decide how your possessions are distributed upon your death. The state generally follows a simple formula for distribution that may not align with your wishes.
The laws governing trusts and estate planning are increasingly complex. By engaging in estate planning, you can ensure that your family will be prepared in the event that you become seriously disabled or pass away. The primary objective of estate planning is to put your financial affairs in order to minimize stress in the event of your disability or following your death. A secondary objective is to ensure that the estate can be managed economically and efficiently so that your assets go to recipients and are protected against unnecessary loss. For most people, a basic estate planning program includes some or all of the documents described below:
Working closely with an experienced estate planning attorney such as Tarutis | Legal Solutions is essential to ensuring that your estate planning goals, including financial and final healthcare wishes, are carried out properly. Whether you want to draft a will, create a trust agreement, set up a power of attorney, or complete a comprehensive estate plan, having an attorney by your side is invaluable. An attorney can also help you anticipate and avoid negative tax implications. Some of the services we provide include:
At Tarutis | Legal Solutions we are committed to helping individuals and families in estate planning and administration-related matters. We can assist you with preparing and executing all necessary documents while taking proactive steps to reduce your tax burden and protect your future.