One of the enduring myths attached to estate planning is that the creation of a sound legal strategy concerning the future is most relevant to well-heeled and comparatively older individuals and families.
In fact, a well-tailored and timely updated estate plan makes strong sense for a planner in virtually every instance. We duly note at the Quinn Law Firm that “everyone needs estate planning.”
Our firm offers that comment in far more than a casual sense. Our demonstrated record of advocacy on behalf of diverse estate planning clients goes back more than a century. And it is centrally marked by the promotion of interests for planners who range widely from unmarried individuals and recently wed young couples to mid-aged blended families, empty nesters and more.
The bottom line concerning a well-considered and carefully crafted estate plan is that its subject matter can comprehensively address key matters across a broad sphere. A will not only speaks to property-disposition considerations, but can also name a guardian for a couple’s young children, should unforeseen matters occur in life. A durable power of attorney designation can clearly specify a third party having the right to make key decisions concerning health care and finances in the event a planner becomes unable to do so.
Asset preservation/disposition, inheritances, gift giving, charitable contributions, family legacy concerns, lawful tax avoidance, a desire for privacy – all these things and more can be spotlighted in relevant estate planning instruments crafted by an experienced legal team in close consultation with a valued client.
One often essential ingredient in a quality estate plan is a trust or multiple trust vehicles, which can confer great autonomy on a planner during life and address broad-based concerns. We note on our website that trusts can be drafted as either revocable or irrevocable during a planner’s life. Moreover, they address a wide universe of matters, including a loved one’s special needs, beneficiaries’ protection against creditors and lawsuits, the future direction of a family business, care for pets and more.
We will take a detailed look at revocable trusts in our next blog post. In the meantime, if you are interested in learning more or are ready to start putting your estate plan together, contact the Quinn Law Firm by calling 814-833-2222.