Estate Planning

The steady press of family affairs, professional careers, and personal interests and pursuits makes it easy at almost any age to overlook the importance of a sound estate plan.   And yet, at almost every age, an estate plan developed with an appropriate level of study, thought, and detail is essential.  This is true whether such a plan—

• Protects and creates peace of mind for newlyweds expecting a first child;
• Generates a “fresh look” opportunity for two empty-nesters whose wills (if they exist at all) date to when now-adult children were in nursery school; 
• Provides a couple in their 70s with confidence that accumulated assets will not be unduly taxed or depleted and will instead eventually be distributed in accordance with their wishes.    
• Structures with clarity the distribution of a 90-year old’s estate between and among multiple parties/generations associated with a complex family tree.

Stacey Braun planners can discuss useful strategies to assist clients like these—or clients facing trying or difficult situations, perhaps involving an ailing spouse or a disabled child—to plan for and address a range of contingencies and circumstances.   Although not attorneys, our experienced team can offer a certain amount of “baseline” knowledge to complement and provide a foundation for formal legal advice, and can provide suggestions and support throughout the process of designing a plan.

A list of frequently discussed topics includes:

• Importance of properly titling Assets
• The use of Trusts to avoid Probate and/or Taxation
• Protections commonly afforded by basic trust structures
• The use of Supplemental Needs Trusts for Individuals with Disabilities
• The role Life Insurance can play in protecting a young family from the financial chaos caused by one parent’s death, or the role it can play in assuring retirement income for an individual who survives the pre-retirement death of a spouse who (had s/he lived) would have received a pension
• The importance of Advance Care Directives for circumstances involving a loved one’s physical or mental incapacity

At its core, a well-developed estate plan should be based on clear goals and a consideration of available options, and from a client’s perspective should generate the peace of mind associated with knowing that meaningful and practical plans have been put in place.