You have worked at getting to where you are today and providing for your family and loved ones may have been a critical piece of your plan. You may also have philanthropic aspirations - creating a legacy and giving something back. Without an estate plan, much of the wealth that you have accumulated could go to tax instead of your family and charities that matter to you. Establishing an estate plan is one of the most important steps you can take to secure your family's future needs.
Providing for Incapacity - what will happen to your loved ones, or you, if you become incapacitated? You will not be able to manage your finances. Does someone have the legal authority to step in and manage them for you? Let's make sure. Who has the ability to speak for you with your medical professionals if you cannot speak for yourself? The days of having your spouse able to speak for you, without a document giving them that right, has long passed. A health care directive can solve this problem, as well as inform others of your preferred medical treatments if you cannot speak for yourself.
Probate Avoidance - Probate can be expensive, is open to the public and is out of your family's control until your assets are finally distributed. A probate court also has the ability to freeze assets for weeks while determining the appropriate disposition. It is easy to avoid probate. It just takes proper planning.
Estate Taxes - This area of our law is in an unfortunate disruption making proper planning in the estate tax area challenging. We keep current on all of the latest law changes in this area and keep our clients informed of any changes that may affect their plan. Roben Hunter writes articles on the changes and informs clients in her blog and newsletter articles as well.
Providing for family - do you have any minor children or incapacitated loved ones that require additional provisions for support? It is important that your estate plan addressed those issues. We want to keep you in control of your family, not the court system.
Charitable Bequests - Giving back to our communities or those who have helped us along the way can be an important part of your estate plan. You can create a planned giving situation that would allow you and your loved ones to receive income for life, help your favorite charity and avoid some taxes all within your plan.
A well-designed estate plan should help provide for your family and keep you in control. Please consult us to review your situation, your goals and help explain the various options that are available for you.
Hunter Advisors, a Minnesota Professional Limited Liability Company, PLLC, is a business law firm providing legal and financial services for businesses and the executive management. The services include business law, estate planning, business succession planning, trust services, business valuations and financial expert witness. Roben D. Hunter, owner of Hunter Advisors, is an Attorney (JD), Certified Public Accountant(CPA), Certified Valuation Analyst (CVA) and Master Analyst in Financial Forensics (MAFF).
Hunter Advisors PLLC is a business law firm providing legal and financial services for businesses and the executive management serving the Twin Cities, Minnesota area.