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Estate Planning - Wills & Trusts

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Care for your family with an effective estate plan

Goals of an Estate Plan

  • Minimize the cost and headache of estate administration by avoiding probate court proceedings.
  • Promote the best interests of everyone involved by examining the structure of your family and characteristics of particular beneficiaries.
  • Pets, charities and loved ones can all benefit significantly when you have established an effective estate plan.

Effective Estate Plans

  • Will minimize estate, gift, capital gains and income taxes.
  • Special family heirlooms, whether valuable or not, should never be sold in an estate yard sale.

Contents of an Effective Estate Plan

  • The Revocable Living Trust or Will is the centerpiece of every estate plan. Probate Court proceedings are required with a will but not with a trust. It controls who will benefit at your passing and who will be given the authority to administer your estate.
  • The Memorandum for Gifting Tangible Property provide the opportunity for you to make specific gifts of special items to the persons you choose, such as art, collectibles and family heirlooms.
  • The Durable Financial Power of Attorney enables you to authorize a list of persons to manage your financial affairs at any time you are unable to do so for yourself during your lifetime.
  • The Durable Healthcare Power of Attorney enables you to authorize a list of persons to make medical decisions for you at any time you are unable to do so for yourself during your lifetime.
  • The HIPAA release is necessary for doctors, nurses and their staff to communicate with your family members and power of attorney agents.
  • The Living Will allows you to inform others in advance about your end of life desires so there will be no conflicts about this issue when you can no longer speak for yourself.
  • The Declaration of Disposition of Last Remains is where you let others know your own thoughts about burial, cremation, funeral and memorial services to guide and prevent arguments among your loved ones.
  • Asset and Persons Location Lists that are used to facilitate the administration of your estate and prevent the overlooking of assets such as old life insurance policies.
  • We use many other documents to address special issues relating to certain assets, certain family structures. Taxes and the personal traits of beneficiaries.
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Protect your assets & enhance the value of your estate

What is a Trust?

  • Trusts should not be feared or avoided.
  • Trusts are an effective tool used to address important and challenging issues.
  • Properly worded trusts enhance the value of an inheritance.
  • Trusts accomplish their purpose because they can separate management of trust assets from persons receiving the benefits of the trust assets.
  • Trusts require no more maintenance than wills.

Common Uses of a Trust

  • Elimination of probate court proceedings
  • Protection of an inheritance from mismanagement by beneficiaries who are not knowledgeable or are incapable of money management
  • Inheritance management for underage beneficiaries
  • Protection of beneficiaries as to their inheritance even if the beneficiary has to go through bankruptcy after receiving the inheritance
  • Protection of a disabled beneficiary from a loss of means tested benefits through the use of a special needs trust
  • Protection of the offspring of each spouse in a second or subsequent marriage
  • Providing the minimization of estate taxes
  • Protection of beloved pets
  • Administration of your estate privately rather than in a public proceeding
  • Providing for the inheritance and long term management of special family real estate and businesses
  • Providing for charitable giving
  • Allowing your estate to be used to encourage your beneficiaries to be productive and responsible members of society

Contact

 

E: wlc3586@gmail.com
P: 303-995-5021

While we look forward to hearing from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Please do not send us any confidential or sensitive information about any matter that may involve you until you receive a written statement from us confirming that we represent you (an "engagement letter"). In the event that we are representing a party with opposing interests to your own, we may have a duty to disclose any information you provide to our client.

By submitting this contact form, I understand and agree that no client or confidential relationship will be created with William L. Carpenter or any of his agents or employees. I understand that William L. Carpenter will not provide me with any legal advice until we have signed and met the terms of a mutually agreed upon Legal Services Agreement. William L. Carpenter is under no obligation to reply or respond to any questions I may ask.