Wills & Trusts
Whether you have personally drawn up a will or not, you have a will. When you die without a will, the state’s intestacy rules become effective. These rules determine the order of persons who can take from your estate. Rather than have a court determine who should receive property from your estate, as your attorney I can draw up your will that designates the beneficiaries of your estate. Through a will, you can dispose of all property remaining in your estate after transfers of property at death by operation of law and distributions according to contractual terms.
In certain circumstances it may be appropriate for you to consider creating and funding a revocable living trust. Unlike a will that takes effect only with a court order, a revocable living trust can pass your property to your beneficiaries without probate. As your attorney, I can draw up the trust document and handle the funding of the trust for you, if appropriate for your circumstances.
Also, you could consider establishing other types of trusts as part of your overall tax planning strategy. These trusts include but are not limited to an irrevocable life insurance trust, a charitable split interest trust, bypass or credit shelter trusts, and a qualified personal residence trust. Forming certain types of trusts, however, depend on your particular circumstances. As your attorney, I would work with you to determine the most appropriate tax planning strategies.