Estate Planning

Why Estate Planning

Estate Planning is a process whereby an individual or couple plan their affairs to address the management and distribution of their assets during their lifetime and upon death. There are many tools utilized to affect an individual’s estate plan including wills, trusts, powers of attorney, and living wills.

An important goal of estate planning is to avoid the costs and expense associated with probate. One of the most important and effective tools used to avoid probate is the living trust.

Another important goal of estate planning is to plan in the event that a person becomes disabled and needs assistance with regard to the management of their financial and healthcare needs. Through the implementation of financial and health care powers of attorney and living trusts a person can insure that their needs will be met in the event of a disability without the need for the initiation of a costly and invasive guardianship proceeding.

Another important component of estate planning is to minimize if not completely eliminate inheritance taxes. Some of the planning tools utilized by estate planners to achieve the goal of Inheritance Tax Avoidance are Credit Shelter Trusts and QTIP Trusts.

The key thing is to hire a lawyer with experience in estate planning so that your desires and estate planning needs are carried out with efficiency and simplicity. Mr. Friedman has been counseling clients in the area of estate planning for almost 30 years. Please contact Mr. Friedman online or call us at 954-385-7282 to set up a free initial consultation.

At the law office of Steven Friedman our guiding principal has and always will be to provide our clients with competent legal representation at a fair and reasonable fee.