ESTATE PLANNING ATTORNEYS HELP SECURE YOUR LEGACY
Preserving your family’s wealth for future generations
Ferrette Law, A Professional Corporation can help with all aspects of your estate plan, including:
- Living Trusts
- Durable Powers of Attorney for Finance
- Advance Health Care Directives
- Choosing executors, trustees and agents
- Estate tax issues
Estate planning documents are extremely flexible and can be designed to fit your unique needs. Ferrette Law, A Professional Corporation, works closely with you to determine your goals and create precise instruments to carry out your intentions.
Securing your legacy
You’ve worked hard for your family, so knowing that you have planned for their long-term well-being and financial security can bring you great comfort. We thoroughly analyze your estate and strategize the best means of transferring your assets, minimizing taxes, designating guardians for your children, caring for your pets, supporting personal philanthropic causes and protecting your loved ones.
Comprehensive plans to protect your family’s future
Wills and Trusts are the principal legal instruments attorneys use to help clients transfer assets to their heirs. The experienced attorneys at Ferrette Law, A Professional Corporation, can advise you on the best means for you to address your legacy concerns, including the transfer of financial and real property assets, estate tax avoidance, nominating guardians for minor children, and support for philanthropic causes. We draft precise wills that reflect your desires and establish various types of trusts that serve your estate planning needs.
Draft your will
Your will provides the opportunity to distribute your property, establish care for your children and otherwise express your wishes upon your death. A will is the primary means by which you can leave property to a person or entity other than a blood relative, such as a domestic partner, friend or charity. If you die without a will, the court determines how your property is distributed, who cares for your children and even what happens to your pet – making decisions that might not reflect your desires. We draft wills that clearly convey your intentions.
Trusts specially tailored to meet your estate planning goals
Depending on your financial circumstances, a will may not be the best way for you to transfer assets to your heirs. Trusts, legal entities you create to hold and transfer your property, can shield your wealth from losses due to liability and taxation, so your heirs can keep more of what you bequeath to them. We can help you select the type of trust instrument that addresses your legacy concerns, such as:
- Revocable trusts. As the grantor, you can retain control of your assets and may revoke or revise the trust at any time.
- Generation-skipping trusts. Also called a dynasty trust, this enables a grantor to transfer a substantial amount of tax-free money to beneficiaries at least two generations your junior. It’s an excellent way to provide a legacy for your grandchildren.
- Irrevocable trusts. Once you establish this kind of trust, its assets no longer belong to you, and you can’t amend the trust without your beneficiary’s consent. However, appreciated assets are not subject to estate taxes.
- Irrevocable life insurance trusts. This trust removes a grantor’s life insurance from the taxable estate. It’s an excellent way to leave a tax-free legacy to loved ones.
- Charitable trusts. Charitable trusts are established to provide benefit to charitable organizations in an income and estate tax effective manner.
Trusts are very flexible instruments. We can help you create an instrument that addresses your unique estate planning needs.
Durable powers of attorney for finance and Advance health care directives
Durable Powers of Attorney for finance and Advance Health Care Directives are ways to avoid the need for conservatorship proceedings. A Durable Power of Attorney for Finance allows a person to designate another person to manage his or her financial affairs, and is not affected by subsequent incapacity. An Advance Health Care Directive allows a person to designate another person to make health care decisions on his or her behalf in the event he or she is unable to give informed consent to medical treatment.
Updating your estate plan
It is a good idea to review your estate plan with your attorney every three to five years and update your documents to reflect changes in your circumstances and priorities. Such changes include changes in your financial situation, marital status, number of children or grandchildren, philanthropic interests and general lifestyle decisions.
Contact our firm
For estate planning services call Ferrette Law, A Professional Corporation at 858-487-9596 or contact us online to schedule a consultation.