Changes in family status often create a need to draft or update estate planning documents. The alteration of beneficiaries on wills, insurance policies, or retirement plans is very often advisable. It is also an occasion to consider the creation of a trust for children who are minors or young adults. Tax considerations may also come into play with regard to the federal estate tax or tax efficient management of trusts or the inheritance of individual retirement or 401(k) accounts by your designated beneficiaries. Advance medical directive and general powers of attorney which activate in the case of incapacitation should also be reviewed for changes in the individuals authorized to make personal and business decisions on your behalf.
A myriad of other very personal concerns can be addressed via thoughtful estate planning. Count on our caring attorneys to guide you through essential estate planning documents, or if necessary, to refer you to a professional who specializes in a certain area such as long-term care, special needs, or elder law.