ESTATE PLANNING
Make a thoughtful and well-informed plan for the future.
Estate planning is the process of creating your plan for your assets and for your family and other loved ones in the event of your disability or death. Once you have a plan, the next step is to document the plan in a will, maybe a trust, and/or other legal documents.
Excellent estate planning should be more than just the simple drafting of documents. It is the creation of a legacy, both personal and financial, that you leave for your family and loved ones. Most Americans do no estate planning, or because of cost concerns, focus only on “simple wills” that put no attention on individual circumstances.
However, there are many “costs” associated with improper planning, an inadequate will, or no estate plan at all. Some of the many “costs” that can arise from improper planning are:
Having your assets go to people other than those you intended.
Failure of your assets to provide the maximum benefit to your beneficiaries.
Unnecessary administrative or probate expenses and legal fees.
Delays in distributing your assets throughout the probate process.
More taxes-both estate and income taxes must be considered.
Damaging relationships between beneficiaries.
Failing to protect.
Estate planning is for everyone, regardless of your assets or family situation.
Estate planning involves strategizing and arranging for the management and distribution of your assets and wealth in the event of your death or incapacity, ensuring your wishes are carried out, and minimizing taxes and legal complications
Who needs Estate Planning?
Estate planning is essential for anyone who wants to ensure their assets are managed and distributed according to their wishes. Whether you have a modest estate or substantial wealth, estate planning helps protect your loved ones and preserves your legacy.
What is the benefit of Estate Planning?
The benefits of estate planning are multifold. It provides peace of mind, ensuring that your assets are handled as you intend, minimizes potential conflicts among heirs, reduces tax liabilities, and can help your loved ones avoid the lengthy and costly probate process.
What does the process look like?
The estate planning process typically begins with a consultation where clients discuss their goals, assets, and family dynamics with Sharon. From there, a customized plan is crafted, which may include drafting wills, trusts, powers of attorney, and healthcare directives. Throughout the process, clients can expect personalized guidance, thorough explanations of their options, and meticulous attention to detail to create a comprehensive plan that meets their unique needs and circumstances.
Our approach to Estate Planning
At Winn Law, estate planning is personal and thorough. Sharon insists on it. We will take time to know you, so that you are educating us about your goals, your family, and your assets. Sharon will offer insight, educating you about what could happen under various scenarios, including a “do nothing” scenario. Through conversation, with wisdom and guidance from us, you will have the opportunity to make an informed decision about the planning approach that will work best to support your goals and serve your family well.
Sharon explains it this way: if you are at a backyard barbeque, and learn that all your friends have a trust, we want you to feel confident that you made an educated decision in deciding that a trust is not for you. On the flip side, if your friend says “a trust is just for rich people,” we want you to feel confident that you made a well-informed decision about what is right for you, and that might mean a trust even if you don’t see yourself as “rich.” Regardless of the path you choose, our approach is holistic; we make sure no one leaves the office with only one piece of their plan completed. And, to remove any stress about “what do I do next,” we support clients in their next steps once the plan is complete.
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TESTIMONIAL
“My previous estate planning attorney passed away, and it was hard to accept that I’d need to find a new one. Working with Sharon made it easy. I’d felt I was in good hands with my friend and previous attorney, but Sharon made me think about things in a new and very helpful way. I learned so much, and I am grateful that my friends recommended her to me.”