It’s time to find an estate planning lawyer that thinks beyond traditional wills.
With an old-fashioned, traditional will, revocable living trust, and estate plan:
Your children’s inheritances can be raided by their in-laws after you’re gone.
With the modern divorce rate around 50%, it’s very possible that after you’re gone your hard-earned dollars could be ripped from the ones you love, and instead be diverted to your child’s ex-spouse. Money that your children may have otherwise used for your grandchild’s college education could then be wastefully spent by an in-law. Thankfully, by instituting one of our firm’s Family Protection Plans and Bloodline Trusts ahead of time, when your child inherits from you, that inheritance is fully protected for your children and grandchildren no matter any future divorce.
Your spouse can be exploited after you’re gone.
After you’re gone, the spouse you leave behind will need emotional support and care. Many times this support and care ends up being provided by a scheming new “companion”. This insincere companion will often artfully slide themselves into becoming beneficiary of the assets you and your spouse have worked so hard to accumulate, leaving your children and grandchildren with nothing. Most of the time, your children and grandchildren won’t be able to stop it from happening. Thankfully, by implementing one of our firm’s Family Protection Plans ahead of time, this type of exploitation can be prevented without your children having to resort to an expensive and public court proceeding.
No planning is done for “IRD Taxes”.
Many people think that because they aren’t subject to federal estate tax, they don’t need to worry about death taxes. The truth is that estate taxes are old hat, and the government is relying more and more on IRD Taxes. IRD Taxes are a special type of income tax that your loved ones pay on all of your IRAs, 401(k)s, and other retirement plans after you are deceased. They are a sort of stealth death tax. With proper planning, an experienced estate planning lawyer can help you minimize the impact of this stealth tax on your loved ones.
No consideration is given to what makes you unique.
Unlike many estate planning lawyers, we get that you aren’t cookie cutter. Your family has unique circumstances, and for those unique circumstances, we can implement unique solutions for you. Contact us to learn more.