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WILLS AND ESTATE PLANNING

Effective estate planning must be tailored to fit your individual circumstances and intentions. This plan must reflect you as an individual. It must consider your age, marital status, family responsibilities, health, and projected retirement date. Further considerations are the nature and extent of your holdings, and a balancing of capital preservation, capital growth, and income consistent with your wishes and objectives.

The Benefits of Estate Planning:

To enjoy a financially secure retirement;
To ensure that your estate is distributed in accordance with your wishes, and not as directed by the government;
To ensure harmony, and avoid conflict among your beneficiaries;
To minimize taxes;
To structure your affairs so that your estate is reasonably easy for the administrators to handle;
To avoid the fees relating to probate of your will where possible.

Some Methods of Achieving the Above Goals:

Creating a will;
Creating Trusts either to take effect in your lifetime or at the time of your death;
Creating Powers of Attorney for Property and Financial Matters as well as for Personal Care;
Gifting Assets for the intended beneficiaries in your lifetime;
Obtaining and understanding life insurance policies.

Your Lawyer's Role in Estate Planning:

To learn about your wishes and intentions with respect to your estate;
To draft a will for you that reflects your individual intentions;
To draft Powers of Attorney, both for property and financial matters, as well as for personal care;
To counsel you with respect to the extent and timing of any intended gifts and life insurance arrangements;
To attend to such real estate transfers as you direct;
To coordinate required consultations with tax specialists or financial planners if appropriate;
To ensure that the plan is flexible to meet changing circumstances;
To ensure the plan works for you;
To provide legal advice in context with the plan.