The Value of Estate Planning with The Law Office of Regina L. Rathnau

“Where there’s a will there’s a way - to pass your assets on to your family and reduce estate taxes”

Do you need estate planning? Just about everyone does. If you want to provide for the people you love and wish to have your estate matters handled and your assets distributed precisely as you wish, you need estate planning.

Benjamin Franklin recognized the wisdom of estate planning by recognizing “nothing can be certain in this life but death and taxes.” We take umbrage with the taxes part since we help our clients avoid estate taxes as best we can. And in terms of the certainty of our mortality, unlike other estate attorneys, our focus is not on death, it’s on life - on enhancing the lives of the people you love the most and providing a legacy - a testimony to the extent of your love that lives on after you.

What is estate planning? It is the process of anticipating and arranging for the disposal of an estate upon death, though it often contemplates issues before death. The goals of estate planning are to eliminate uncertainties over the administration of your estate and maximize the value of the estate by reducing taxes and other expenses. When children are involved, owners of the estate will designate guardians for minor children and beneficiaries who may be incapacitated.

A Few Reasons Why Estate Planning Is Valuable

Estate planning resembles insurance in the fact that waiting too long to obtain it can sometimes eliminate the opportunity to take advantage of it. Here are some advantages to having a plan in place (now or as soon as possible), including the ability to:

1. Provide for your immediate family
   Unmarried couples want to leave whatever money and assets they have to their surviving partner. Couples with children want to assure their children’s education and financial well-being. One way of doing this is to let our law office create a will for you that recommends personal guardians for the children. If you don’t have a will or trust - the court can and will make critical decisions for you - without your input - regarding where your kids will live and who will make important decisions about their money, education, and way of life. No one wants these incredibly important decisions taken out of their hands. Put your confidence and trust in ours.
2. Reduce costly taxes on your estate
   State or Federal inheritance taxes take money away from your beneficiaries. Saving you money on estate tax and income taxes is a non-taxing experience for us. We specialize in getting the maximum allowed by law to your beneficiaries and the minimum to Uncle Sam.
3. Get your property to beneficiaries as soon as possible
   Together we can investigate options that distribute your assets safely, fairly and quickly, including insurance paid directly to beneficiaries, joint tenancy, and living trusts, as well as using simplified or expedited probate and leveraging laws that provide partial payments to beneficiaries while your will may be in probate.
4. Plan for when you’re incapable of planning
   At the Law Office of Regina L. Rathnau, when we work with you to plan your estate, we can also plan for possible mental or physical incapacity. Living wills and durable health-care powers of attorney (HCPOA) will enable you to decide in advance about life support for you and you can pick someone to make decisions for you about the medical treatment you wish to receive…or not.
5. Reduce strain and pain on your family
   If we plan your estate with us in advance, you will take a major burden from the shoulders of your grieving survivors. You may even want to place a limit on the expense of your burial or designate your burial place.
6. Minimize your legal costs
   We’re cost conscious to begin with and are confident you will find our estate planning and other services priced surprisingly low. Our plan is to keep the cost of transferring property to beneficiaries as low as possible, leaving more money for them for their lives ahead.
7. Choose executors/trustees for your estate
   Choosing competent executors/trustees and giving them the necessary authority will save money, reduce the burden on your survivors, and simplify administration of your estate. We can help you ask the questions to sort out the best fiduciaries for the long term.
8. Be charitable and help a cause.
   An estate plan is a wonderful way to continue your financial support of any religious, educational or other charitable cause, and at the same time take advantage of tax laws designed to encourage private philanthropy.
9. Provide for people in your life who need added help and guidance
   Perhaps you have a disabled child or a child challenged in another way. Do you have an elderly parent or a grandchild whose education you want to assure? Let’s talk about setting up a special trust fund for family members who need support that you won't be there to provide.
10. Ensure big help for your small business
    Our law office can provide for an orderly succession and continuation of your business by spelling out what will happen to your share of the business after your passing.
    

One More Reason to Use The Law Office of Regina L. Rathnau

Clients say we clearly enjoy helping them and listening to what they really want. This simply means we listen more attentively than others to gain an understanding of your desires and personal goals, and we enthusiastically help clients find a custom-made solution. After we meet, we use our expertise and years of experience to make suggestions and formulate a plan in your best interests. Together, we’ll review your plan in detail prior to any signing to ensure that you are completely comfortable with the documents drafted for you. Fees (more reasonable than you expect - and even downright surprising) are discussed in advance before any work on your behalf is undertaken. Sound like a plan? If that appeals to you, why not contact us now and we can plan to get together?