Wills, Powers of Attorney, and Other Planning Documents
Jim listens to you, asks question to better understand your situation and objectives, counsels you about alternatives, and prepares Wills for death-time planning and Powers of Attorney and other instruments for lifetime planning. His goal is to provide you with a clear understanding of, and peace of mind about, your planning choices.
Living and Testamentary Trusts. Living (“Revocable”)
Trusts can be effective means of managing your assets – particularly income-producing assets – in the event of illness, disability, or the effects of aging. Although these tools do not avoid probate entirely, they can help bridge the income and control gap between time of death and completion of the probate process. Testamentary trusts are particularly suited to provide you a way to control how your beneficiaries spend their inheritance and can be used to reduce the likelihood of spendthrift behavior.
Business Succession Planning
Many business owners have most of their wealth tied to the value of their business. Jim works with your accountant or financial planner to develop a reasonable and effective plan for you to step away from your business in a financially satisfactory manner for your desired lifestyle – whether by transfer to your next generation family members, use of a management buyout, or a sale to a third party. Jim recognizes that sound succession planning can begin years prior to the owner’s departure and can include minor or major changes to the business structure and operations, depending on the owner’s priorities and the buyer’s goals and objectives.
Probate Administration
The probate of your Last Will and Testament involves the appointment of a personal representative who will locate, inventory, and value your assets, identify and deal with your creditors, communicate with your beneficiaries, determine how to distribute assets in deference to your Will and applicable law, and wrap up and close the probate estate. Jim counsels your personal representative and trustees to understand and effectively perform their responsibilities.