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• Probate and Trust Administration
  
  
• Securities Litigation/Arbitration
  
  
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Will Based Plans

Primary Will Plan/PWP

Designed primarily for adults with either no or older children, to plan for cognitive or physical incapacity or both, determining in advance who will make health care decisions when client cannot, and who should be allowed access to client’s medical information, etc.  In DPOA, client authorizes Attorney-in-fact to make financial decisions.  This plan is most suitable for estates with relatively modest assets.  For parents with minor children, Will allows for nomination of back-up parents, and consideration of naming a separate person to handle the funds, i.e., conservator.   This plan will trigger a probate proceeding after client’s death when assets exceed $20,000 or for court to appoint guardian/conservator of minor children. 

 

Caveat: this plan is not well suited for larger estates, offers no creditor or predator protection of assets, and in most cases, minor children would inherit remaining assets at age of eighteen.

 

Documents associated with this plan include:

 

   > Last Will and Testament: asset transfer, nominate guardian of minor children, etc.

   > Living Will or Health Care Directive: appoint agent(s) with directions to make your medical and health care decisions.

   > Durable Power of Attorney: appoint Attorney(s)-In-Fact to conduct your financial and legal affairs.

   > HIPAA Authorization(s): authorizes hospital/doctor to share medical information with designated Personal Representative(s).

 

Enhanced Will Plan/ EWP

Designed primarily for parents of minor children who wish to lock-up assets in trust, whether from 401(k)s, IRAs or life insurance death benefits, for the children and control the time and terms of distribution. A consultation concerning account titling and beneficiary design is intended to minimize or avoid probate altogether, and even includes a transfer on death deed to your home.

Caveat: since this is a will-based plan, it too will require a probate proceeding, especially when minor children are involved.

Documents associated with this plan include all PWP documents above, plus:

 

   > Testamentary Trust (with optional values or faith-based guidance for “back-up” parents); and

   > Legacy Consultation, including asset titling and beneficiary design to plan for probate minimization or avoidance, and desired and efficient asset transfer.

   > Real Estate: one Transfer On Death Deed (recording fee not included).