Get A Full Picture Of Your Financial Assets
When preparing for the future, creating a will is not your only option. Estate planning could also involve a living will, powers of attorney, trusts and other methods. However, the plan you create should first and foremost align with your goals. Much like the pieces of a puzzle, all of your estate planning documents, property and financial holdings must work together to create one comprehensive picture.
At the St. Paul law offices of Scott + Hespen Law, PLLC, we examine all of our clients’ financial and property holdings, including beneficiary designations on retirement and investment accounts, property titles and other jointly held assets, to ensure the documents we create result in one comprehensive estate plan that truly affects our clients’ final wishes.
Understanding Your Options. Protecting Your Future.
Creating an estate plan is an intensely personal process. The decisions you make concerning who will care for your children, how property will be distributed and your wishes regarding end-of-life health care should be taken seriously.
We believe educated clients make smart decisions. Our attorneys take the time to educate our clients about the estate planning process, the tools available to them and how each planning document functions within their greater estate plan.
Giving Your Children Security Through Estate Planning
Everyone can benefit from a well-executed estate plan. Wills, trusts, powers of attorney and health care directives allow individuals to take control of not only their future financial and physical health but also the well-being of their children.
It is important for families with minor or disabled children to develop a will and trust that name guardians and trustees to care for and manage finances for your children until they are able to do so. When children are developmentally disabled, special needs trusts are often necessary to allow children to obtain government-supplied benefits — such as Medicaid — while still receiving financial support from family members.
When families separate, they may need to reexamine their estate plan after the divorce.
Complex Estates Call For Thorough Strategies
Individuals with larger estates often require more complex estate plans. Our attorneys employ a variety of estate tax planning tools that ensure clients pass property to the next generation in the most tax-efficient manner possible. Our firm also helps business owners create succession plans that provide clear guidance for the next generation of owners.
Inheritance Rights For Unmarried Partners
Because domestic partners are unmarried, the only way to ensure inheritance from your partner is through a will or trust. Health care directives and powers of attorney enable partners to make important financial and health-related decisions for one another in the event of sickness or death. Prenuptial agreements and domestic partnership agreements are often used in conjunction with other estate planning tools.