Estate & Succession Planning
There are 3 ways to pass your property when you leave this earth:
1- With no direction
2- With a will
3- With a trust
The first two — no direction and a will — require probate through the court system, even if you have very little. A revocable living trust does not need to be probated in the court system and will fulfill your wishes and distribute your assets to those whom you want to receive them.
To pass without trust in place will mandate that your estate be probated through the court system - even if you have very little. The probate process is a legal process that takes place in the courts to distribute a person's assets after he or she passes away, and will also assign guardianship for the minor or disabled children of the deceased. The courts may not distribute your assets as you want or assign the guardian that you intend for your children. In order to make sure your assets are distributed to the people you love, and your children are taken care of by the people you trust, you need an estate plan and probate attorney who understands the process.
Estate planning is one way to remove any uncertainty to your end-of-life preparation questions. Through a series of documents, you will ensure that your wishes are memorialized in a legally sufficient and binding way. Don't wait to put your estate in order, do it for yourself and your family members today.
In the event that you become disabled or unable to take care of your family or financial affairs, a power of attorney is absolutely necessary. It grants the power to another individual to take care of your family and business affairs until you are able to resume taking care of them again.
We can help prepare the following among other estate planning needs:
- Asset protection
- Revocable Living Trust
- Wills and Pour-over Wills
- Guardianship issues
- Durable Power of Attorney
- Durable Power of Attorney for Health Care
- Distribution of Assets
- End of Life Directives
A power of attorney for health care gives the person whom you want to make medical decisions on your behalf when you are not able to, instead of a judge in a courtroom.
Vitello Law Firm provides a wide array of estate & succession planning services. Our firm has represented individuals and families dealing with contested wills, trusts, probate and guardianship matters.
Revocable Living Trust
Will allow you to control and protect your assets while you are living, and also direct who will take care of you and your assets if you become incapacitated, and also direct your estate upon your passing
Last Will and Testament
Memorializes your decision and directives regarding how your assets will be distributed at your death
Durable Power of Attorney
Authorizes a designated person to execute legal documents on your behalf if you are unable
Medical Directive (Living Will)
Memorializes your decisions regarding end of life medical care & how you want to be treated
Durable Power of Attorney for Healthcare
Authorizes a designated person to make medical decisions for you, as you would make them for yourself, while you are unable. This document lets you choose someone you trust to speak with doctors, review treatment options, and consent to or decline care on your behalf. Your agent follows the wishes you have expressed and acts in your best interest when those wishes are unclear. Because it takes effect only when you cannot make decisions yourself, you remain in control of your own care for as long as you are able.
Attorney Experience
Estate planning is the area that ties it all together for Susan. With a passion to see her clients not lose the assets they worked so hard to accumulate, she began counseling her clients on the importance of having their estate in order, including a succession plan to pass the business along, pass the real estate investments to their heirs and beneficiaries, and to make sure their assets were protected from attachment by creditors.
