Connolly & Rooney can assist you with all of your estate planning from the simplest will for a single person to the most complex tax driven planning, such as “marital deduction, creditor shelter intervivos trust arrangements” which can postpone and/or eliminate death taxes.
We can also assist by:
• Providing advanced directives for powers of attorney for financial purposes and durable powers of attorney for healthcare;
• Helping you to “fund” your trust arrangements, to avoid or minimize probate court administration; by helping you to select guardians and trustees to manage resources for minor children; and
• Providing all other documents necessary to put in place the estate plan you want.
Some of the strategies and documents that are often involved include:
Wills & codicils – dealing with administration of assets in an individual’s sole name.
Basic revocable intervivos trust agreements, which may include:
— Trust for single individuals.
— Joint trusts for spouses.
— “Marital Deduction/Credit Shelter” trust arrangements for those clients who may need to plan for the Federal Estate Tax (“FET”)
— Business trusts to provide management for closely-held businesses in various situations.
— Powers of Attorney for financial purposes.
— Durable Powers of Attorney for Healthcare, including Living Wills.
— Escrow arrangements for handling Powers of Attorney.
— “Do Not Resuscitate” documents.
Special irrevocable trust agreements, which may include:
— Irrevocable life insurance trusts (“ILIT”)
— Educational and Grandchildren’s Trusts.
— CRUT’s, CRAT’s, CLUT’s, etc. – Special charitable trusts.
— Qualified personal residence trusts (“QPRT’s”)
— Recreational trusts to hold special family recreational properties, such as lake properties or camps.
Documents Addressing Special Situations, such as:
— Uniform transfer to minors act account (“UTMA’s”)
— Section 2503(c) Trusts – special irrevocable trusts for minors.
— Trust arrangements for those requiring special directives – “special needs trusts”.
— Payable upon death arrangements.
— Joint tenancy with rights of survivorship (“JTROS”).
— Legal Life Estates.