It is natural to want to plan for the future and ensure that one’s wishes are acted upon over the long term in family matters, finances, and healthcare. The estate planning attorneys at KDAO have experience providing individuals facing these concerns with understanding and careful legal advice. Planning in these areas can raise many complex issues, and it is important that any individuals concerned with these delicate issues obtain legal counsel they can trust to ensure their wishes are fulfilled. The estate planning services offered by our firm include giving advice on drafting wills, trusts, and powers of attorney, drafting any estate planning documents, as well as assisting with business succession planning and tax planning.
Every estate planning decision made involving finances has a potential tax consequence. Without careful planning, it is possible to face unintended consequences that adversely affect your family’s financial position. Nontaxable events become taxable ones. Needless probate, administration, and litigation fees can be incurred. The attorneys at KDAO can help you avoid such consequences and provide preferable tax treatment in the transfer of assets. Additionally, carefully constructed estate planning devices can reduce the amount of assets passing through probate and reduce the possibility of increased costs in administration of the estate.
Alongside planning for the distribution of assets, individuals can also plan for their later days both in their finances and in their healthcare. Durable powers of attorney allow individuals to appoint those individuals whom they trust to conduct their financial affairs in their incapacity and make their important medical decisions. In addition to delegating authority, individuals can prepare living wills to make the most important healthcare decisions now themselves.
As an estate is administered, there is occasionally disagreement amongst the interested parties concerning their respective entitlements under the mechanisms provided by the deceased. Both wills and trusts can be contested. Even during the emotional times following the death of a loved one, when wills and trusts come to bear, additional stress can be, and often is, created by these disagreements. The experienced KDAP probate attorney can help reduce this stress and provide peace of mind that the interested party is getting what they are entitled to under the documents and the law.
Please contact us at (847) 590-8700 to discuss how KDAO may be of service in your estate planning matter.