Estate Planning & Probate

Estate Planning

Estate planning is an ongoing process that should be started as soon as one has any measurable asset base. Also if you have minor children, you can designate guardians to look after them in the estate plan. As life progresses and goals shift, your estate plan should be updated to be in line with your new goals. It is important to include asset protection planning that creates layers of protection for your assets from potential creditors.

The good news is that people in our society are living longer, much longer. According to statistics from the 2010 U.S. census, more than 13% of the population was over the age of 65. That percentage is expected to rise to 20% by the year 2030. This means that as you live longer your personal goals are likely to change several times and you will want to update your estate plan accordingly.

Bruzgul & Associates has experienced attorneys to assist you in these areas:

• Estate Planning (wills, revocable trusts, irrevocable trusts, special needs trusts, powers of attorney, living wills)
• Asset Protection Planning
• Probate & Non-Probate Estate & Trust Administration
• Guardianships for Disabled Adults
• Guardianships for Minor Children
• Estate Planning

Strategy

Estate Planning is a process by which an individual designs a strategy for the administration of his assets upon death and disability. The focus is on what matters most for you- protecting loved ones, promoting family harmony, avoiding waste, and allowing future generations to prosper. Through the use of wills, trusts, and other advanced estate planning techniques, you can maximize asset preservation for future generations, and more importantly, plan to ensure that your assets are available when you need them and how you need them. 

Asset Protection Planning

Asset protection strategies can provide a substantial level of financial security and control. In general the more complex the planning, the more effective the protection. However, complex plans contain more restrictions. Potential exposure can arises from ownership of a business or from providing professional services. 

Probate and Estate Administration

Probate is a legal procedure for settling the affairs of an individual who has died (the “decedent”) either with or without a will. It is a court-supervised process for the administration of the decedent’s estate. The decedent’s rightful debts are paid and property is transferred to beneficiaries or heirs. A comprehensive estate plan and transfer of assets into a trust and other vehicles can limit or avoid the need to have a decedent’s estate go through the Court supervised probate process. 

Guardianship

When someone is incapacitate due to Alzheimer’s disease, dementia or an other disability, it is often necessary to have a guardian or legal representative appointed. In a guardianship proceeding the court appoints a person to exercise some or all of the legal rights of the incapacitated person, called the “Ward”. A legal guardian can be appointed for a child under the age of 18 years who does not have a living parent.