Estate Planning is the process of organizing how assets are transferred to beneficiaries after death or incapacitation. The goal is to preserve wealth for beneficiaries while also giving the individual flexibility before death. Estate plans can also help minimize taxes and other costs.
With over 20 years of experience in this practice area, Conti is familiar with the ins and outs of planning strategies to assist you with your specific needs.
Revocable living trust
A revocable trust is a legal document that allows someone to manage another person’s property or money during their lifetime. The trust can be amended or revoked at any time. After the grantor’s death, the trust becomes irrevocable, and the assets are distributed according to the trust’s terms.
Irrevocable living trust
An irrevocable trust is a legal arrangement that’s difficult to change or dissolve once it’s established. The person who creates the trust, called the grantor, can’t modify, amend, or revoke it without the consent of each beneficiary or a court order.
Asset Protection Trust
An asset protection trust (APT) is a trust vehicle that holds an individual’s assets with the purpose of shielding them from creditors. Asset protection trusts offer the strongest protection you can find from creditors, lawsuits, or any judgments against your estate.
Financial
A legal document that gives someone, called an agent, the authority to make financial decisions for you. This document can be useful in unexpected situations, such as if you become incapacitated, to ensure that your finances are handled smoothly.
Healthcare
A legal document that gives someone the authority to make medical decisions for another person if they are unable to do so. The person chosen to make these decisions is called the health care agent or proxy. The agent is legally required to act in the person’s best interests and should understand and respect their wishes about medical treatment.
A legal document containing instructions as to what should be done with one’s money and property after one’s death.
It isn’t uncommon that I’m told that “a neighbor suggested…” or “my brother-in-law said…” when asking a client why a document was drafted a certain way or why an account lists a specific beneficiary instead of all the children equally. Although well meaning, this “advice” may lead to disastrous results. Everyone’s estate plan is not […]
You’ve worked so very hard during your lifetime and made a concerted effort to save for your retirement, often times with the goal of leaving a piece of your legacy for your children. But is your IRA protected? Keep reading to find the top 5 reasons why naming an individual as the beneficiary of your […]
I’m sure you’ve heard the phrase “Elder Law” before … or have met an elder law attorney but have you ever wondered what that term means and what exactly an ‘elder law” does? Keep reading to learn why sometimes it’s important to meet with a specialist when it comes to your long-term care planning rather […]
Sometimes, even basic documents can lead to messy litigation upon your passing. When discussing estate planning, most of my clients skate past the topic of choosing someone to act as a power of attorney or executor they trust. Of course, we trust our child… I’ve heard it many times. But what happens when that person […]
You have your documents drafted, signed and put away… most people don’t discuss the estate administration process before a loved one dies because let’s face it, who really wants to? But if the person you named as your Executor doesn’t know what to do, they could fall victim to one of the five most common […]
Most people who have a pet treat them as a part of their family. Others go so far as to provide for them in their estate planning documents. But what happens if you don’t have a will but have a trust instead? Why probate your estate just for your dog’s sake? In this article I’ll […]
