Are you in need of an Estate Plan or does your existing plan need to be reviewed? Over the years I have met with countless individuals and couples who think a will and testament is the solution for the efficient disposition of their assets. However, after I explain to them the benefits of a comprehensive Estate Plan many of them realize a well-crafted plan is more appropriate in meeting all of their needs and objectives.
What are some of the benefits of a comprehensive Estate Plan compared to a Will and Testament?
Avoids probate at death
Prevents court control of minors’ inheritances. This is especially important when naming minors as beneficiaries on life insurance policies. Without a plan, the court will be in control of the life insurance proceeds until the minor attains age 18. Thereafter, any remaining money will be distributed to the 18-year-old without restrictions. Typically, this is not desirable. A living trust can avoid court interference and distribute the proceeds to the beneficiaries at a more appropriate age.
Provides maximum privacy. A will is public record potentially exposing the beneficiaries to disgruntled heirs or unscrupulous solicitors. A trust is private.
Prevents court control of assets at incapacity
Assets remain in the trust until you want beneficiaries to inherit
Quicker distribution of assets to beneficiaries.
Prevents unintentional disinheriting and other problems of joint ownership
If you already have a comprehensive Estate Plan in place, the following events indicate it may be time for a review.
Have you had a change in marital status?
Have you moved?
Has there been a death of Beneficiary?
Is your plan out of date?
If you want to schedule a free consultation to discuss your situation, don’t hesitate to contact Andrew J. McCulloch at the Giroux Pappas Trial Attorneys Law Firm. The firm is committed in its effort to offer quality estate planning services at a reasonable cost. A typical plan includes pour over wills, a revocable trust, financial and medical powers of attorney, funding instructions and deeds transferring property to the trust.
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Bob Giroux's Bio
Bob has been a litigation attorney for over 24 years. He is a Super Lawyer and has received, from Martindale, Hubbell, an AV Preeminent rating, the highest rating obtainable in both proficiency and ethics. Bob Giroux is a true litigator and trial attorney that has worked both sides of the courtroom and has personally been involved in over 100 trials.
We pride ourselves on treating every client as if they were a family member and will fight for what you deserve. We take the time to truly understand your needs, thoroughly investigate the facts of the case and make recommendations that are in your best interest so you can make the appropriate decisions. If we need to meet with you in your home or in a hospital, we will do anything we can to accommodate your needs. The attorneys at Giroux Pappas Trial Attorneys have over 120 years combined experience.