Stilwell & Associates

Estate Planning is both the necessity of everyone’s life, and the thorn in their side.

Probate court is the bane of every person’s inheritance. It is expensive, public, and lengthy in duration. In order to avoid these problems, trusts were created. These documents create miniature private probates that transfer hard earned assets without court interference (link to probate avoidance page). Every person who owns real estate or more than $100,000.00 in personal assets needs probate avoidance planning.

If probate isn't bad enough, if you have been blessed with assets in excess of $5M (in 2011), you will be taxed upon your death. Even if you have a more modest estate, planning is critical. The federal estate tax rules run only through 2012 and no one knows what will be after that. It’s advisable to work closely with an estate planning professional  to devise plans that can be adapted not if but when future tax rules change. With proper planning, the estate tax is a non-factor in your life and death. Proper planning can quickly turn the estate tax into a feather instead of a hammer.

Estate planning incorporates more than death planning; it includes life planning. A financial power of attorney and an advance health care directive let trusted loved ones make personal decisions for you when you cannot. Without these critical documents, your financial and personal wellbeing are left to strangers and the courts.