Estate Planning and Administration Attorneys
Retirement programs, securities, and other investments have become major tools for Americans to amass wealth and save for retirement. In order to protect their wealth and ensure that inheritances and businesses are passed down appropriately, it is important for individuals to devise effective estate plans.
The Estate Planning and Administration Group attorneys at Dickie, McCamey & Chilcote are skilled at devising strategies for clients that help preserve and transfer wealth and minimize tax burdens.
Itís All About Proper Planning
What is an estate plan? In essence, it is the blueprint of your assets and your family’s financial future. But it’s not just about money: it determines who will care for your children, who will inherit your assets, and in what amounts. It also may designate the executor of your estate. If you own a business, an estate plan may spell out who will inherit and run the business.
Our attorneys offer clients comprehensive services necessary for proper estate planning, including:
- Standard and Complex Wills
- Powers of Attorney
- Living Wills and Advanced Directives
- Revocable and Irrevocable Trusts
- Charitable Gifts and Foundations
- Gift Tax Planning
- 401(k) Plans
- Family Limited Partnerships
- Beneficiary Designation
Estate Planning and Administration Group attorneys work with clients to ensure that their estate plans remain viable and reflect their current situation. A life-changing event, such as a divorce or the birth of a child or grandchild, may require changes to be made in a plan. Further, we recommend that clients review their estate planning goals every three to five years.
Estate Administrative Services
Our attorneys are diligent in protecting the client’s estate or trust upon death. We make sure that the wishes of the client are executed and that all assets are identified, collected, and appropriately distributed. Estate Planning and Administration Group attorneys value the estate at the time of death, ensure that the will is fairly and quickly probated, and inform creditors and handle any disputes. In addition, we arrange for state and federal taxes to be paid.
Trusts and Foundations
Trusts are a common way in which individuals dispose of their wealth. Unlike wills, trusts are not subject to probate, which may be a lengthy and costly process. Our attorneys are experienced in creating trusts — from standard to complex — for our clients. We also can establish charitable foundations for clients, which require us to create and certify an entity as a 501(c)3 organization, and we do so regularly.
Some recent examples of actions we have taken on behalf of clients include: the creation of a living trust to endow a chair in the name of the client upon her death, while, at the same time, providing income to the client during her life. We also have established trust funds to award scholarships to high school students in the name of a client and appointed trustees for the entity.
We work closely with each client to ensure that assets are preserved during their lifetime and properly distributed upon their death. We have strategic alliances with a network of financial planners, accountants, and banks whose services are available to our attorneys and our clients.