Estates & Trusts
Estate & Trust Administration
Experience has shown that many people create enormous problems by not adequately planning for their death.
Obviously, it is an unpleasant subject.
As a result, some people plan poorly. Some devise a plan and never review it. Some people do no planning at all. This can create unnecessary expense, family divisiveness and probate court involvement.
Many people think that estate planning is only for the wealthy. This is simply not true!
Where are your parent’s assets going upon their death? Where are your assets going? Do you have a will? Should you have a trust? Will you have the financial support you need should you become seriously ill or disabled? Are the courts going to be involved? The questions go on and on.
We have significant experience in both thinking about the future and administering current estates. We have seen what can go wrong – brothers and sisters who no longer speak to each other, children who cannot attend the same Christmas party, even family court suits that take years to resolve and cost thousands.
None of this needs to happen.
We’ll review your current documents, discuss them with you, and create a report that allows you to make informed decisions. We are here to assist you every step of the way.
Financial & Estate Planning
Mr. Saas held a position as a Senior Tax Partner for one of the four largest CPA firms in the world where his focus was on estate tax issues. He is now offering to share his expertise with us. He is heavily involved in all planning aspects with his clients to ensure that their final and lasting wishes, as to the disposition of there estate, are fulfilled.
“I am a retired Senior Tax Partner from one of the four largest CPA firms in the world. Among my specialties was dealing with estate tax issues and with planning, along with my clients, to assure that, when they pass away, their wishes as to the disposition of their estate are accomplished.
In my early career, the major issue was how to limit estate taxes. Recent law changes have resulted in the payment of estate taxes being limited to the very rich. Is that the only issue? It is most certainly not.
Planning for your death is often difficult emotionally. Some people have told me that it is bad luck. Not planning is often much worse. Even people with fairly modest estates can have major issues.
The goals is to have the decedents wishes, expressed while he or she is living, accomplished. Doesn’t that sound easy? It is often not. I have seen more after-death family fights than I care to remember. I have listened to people planning a Christmas or Birthday party, having to choose which person in a family to invite because they can’t invite them all. People had to choose which school to send their children to so as to make sure that their sister’s children will not go to the same school.
Many people assure me that “this” will never happen to me. Don’t be too sure. How does this problem arise? A recent experience involved an attorney who amended a living trust, left the individuals estate to the wrong people and didn’t notice it until after the individual died. I have seen several recent cases where one beneficiary sues, after death, contending that another beneficiary exacted undue influence to affect where the money went. I have seen cases where an individual does a plan, has a set of documents drafted, and never changes it, as life and the people involved change.
The questions involved never end. Should two children always receive equal shares? What if one is rich and the other poor, one has children and one none, or one is disabled and needs long-term care.
Who should be your trustee or personal representative? Should you discuss the results with your relatives while you are still there?
We provide a discussion and review of your existing documents, if any. We spend the time to talk about you and your life. We make sure you thoroughly consider all the issues. We don’t draft final documents but we review them to assure your wishes will be successfully accomplished.”