Wealth-Asset Preservation
(aka Estate Planning)

C&D assists clients in devising and implementing estate planning techniques designed to: (a) protect and preserve their wealth (e.g. house, finances, business interests) during their lifetime; (b) quickly and efficiently transfer their assets to desired recipient(s) at death while avoiding or minimizing estate taxes and administrative costs and/or (c) provide for loved ones needing care in their absence (e.g. children or elderly relatives).  This is a so-called Estate Plan, involving planning for management of assets during your life as well as, upon death, for the distribution of your property and the handling of guardianship/custody issues.

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Without an Estate Plan, you are unlikely to succeed in seeing your wishes carried out.  Estate Planning is the process of eliminating, or at least reducing, the hurdles that stand in the way of your desired outcome.  To not have a plan, therefore, creates an increased risk of not having a solution when needed at the time of a life event.  Unfortunately, many people procrastinate seeing an attorney to develop an Estate Plan until it is too late thereby falling subject to the old adage – “If you decide not to decide, you've still made a decision” or “"failure to decide is to decide to fail."

Through client meetings, C&D determines your personal objectives leading to planning decisions that are implemented through the drafting of the appropriate legal documents to ensure the transfer of assets to the desired recipient(s) prior to, or upon, death and the carrying out of your wishes with respect to loved ones.  C&D will strategize with you regarding alternative methods of achieving your objectives while at the same time minimizing potential estate taxes and legal, probate and administrative costs.  Absent the implementation of an appropriate Estate Plan, the value of your assets may be reduced significantly due to the required payment of those taxes and costs.

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As part of its Estate Planning work, C&D routinely prepares some or all of the following to achieve our clients’ desired results:

• Wills 

• Living Wills 

• Trusts, both Revocable and Irrevocable 

• Powers of Attorney 

• Health Care proxy documentation

• Modifications to ownership interests or beneficiary designations

• Declaration of Homestead  

 

For example, through these estate planning techniques, much of your wealth may pass directly to your chosen recipient(s) without becoming part of your “probate estate” thereby avoiding the involvement of the Probate Court.  The implemented Estate Plan will seek to be versatile allowing for periodic reviews and alterations due to changes in the estate tax laws and/or your family and/or life circumstances.