Slatter Law offers a variety of basic estate planning options for its clients. Many people erroneously believe that estate planning is only for wealthy individuals and families, but in reality, every individual over the age of 18 needs some form of basic estate planning in place.
Estate planning is not just about determining what happens to your money and assets after you have passed on. Proper estate planning can improve your life right now, improve your future life, and help your loved ones cope with the financial and emotional impact of your absence after your death. In fact, an estate plan properly set up can benefit you and your loved ones with some of the following advantages:
- Reducing your tax liability now
- Reducing your future tax liability while you’re still living
- Making provisions in the event of your incapacity
- Providing plans for a guardian of your minor children
- Making sure your assets go where you want them to go after your death
- Minimizing the taxes and other financial burdens your heirs will have to pay
- Maximizing the financial assets of your estate
Slatter Law provides basic estate planning services and documents, like Powers of Attorney, Advance Directives for Health Care (formerly called “Living Wills”), and your Last Will and Testament. These are basic tools that every adult needs in order to plan properly for the unexpected events that life brings.
Some individuals need more intensive estate planning, in order to properly manage and make the best use of their money, minimize the tax liability that they will pay over their own lifetime, and ensure that after their deaths, their estate will provide their heirs with the most usable money and the least possible amount of estate tax liability. If you are one of these people, Slatter Law can use “inter vivos trusts” (trusts that are created and take effect during your lifetime) and “testamentary trusts” (trusts written into your Last Will and Testament which take effect upon your death) to accomplish these goals.
To learn more about improving your life through Estate Planning, please click here to view an inventory of legal estate planning documents or simply register here to create an account, to discuss which Estate Planning services may be right for you.