A comprehensive estate plan should be a part of everyone’s financial planning. At Cronin, Bisson and Zalinsky PC, we work closely with families and individuals to create comprehensive, custom tailored estate plans. A well rounded estate plan provides not only peace of mind that your family and assets will be protected in the future, but may also provide substantial savings down the line.
Here are just a few of the many reasons why a well-crafted estate plan is critical:
- If you have minor children, you can nominate a Guardian in your Will. Without a Will, your children may be wards of the state, whose ultimate guardianship will be decided by the Court
- Name an Executor to handle probate administration. If no Executor is named, the Court will appoint an Administrator.
- If you do not want your children to inherit at age 18, a Trust can be created to hold their inheritance until they reach an age that you have previously designated. Assets are held and used for the benefit of your children. You can appoint a Trustee to manage the assets and make appropriate distributions
- Many clients see the benefit of probate avoidance and choose to utilize a trust to hold their assets so that probate administration can be bypassed. Probate Avoidance can be achieved by creating a Trust and funding the trust with your assets
- In the event of your incapacity, Healthcare Advanced Directives and Durable Powers of Attorney allow you to appoint agents to make your medical and financial decisions, respectively.
- If you have a taxable estate, a more sophisticated approach to your estate plan may be necessary to provide significant tax savings.
- If you have a child with special needs, a Special Needs Trust may be used to protect the child’s assets without affecting benefit eligibility
We understand that every individual has unique needs and goals and we strive to create a unique plan to meet these needs. We take the time to fully explain and answer all your questions. Our aim is to ensure that you not only receive a comprehensive estate plan, but that you understand what your documents mean.
Our expertise and services include:
- Advanced Directives
- Durable Powers of Attorney
- Family Trusts
- Estate Tax Planning
- Gift Planning
- Life Insurance Trusts
- Special Needs Planning
- Elder Law and Medicaid Planning
- VA Benefits
- Estate And Trust Administration