Estate planning is the process of planning for the transfer of everything you own to those persons you want it to go to after you die. Wills and trusts are only some of the tools used in estate planning and it is important that all means by which assets transfer at death work together to achieve the desired result.
Our estate planning attorneys assist clients with basic as well as complex document strategies to achieve their estate planning goals. Wills are sometimes enough. Revocable trusts, also called "Living Trusts" are helpful for avoiding probate, managing assets or estate tax planning but may be less helpful in other estate planning situations. Irrevocable trusts, such as real estate trusts, are often used to protect family real estate for use by future generations, but joint ownership, Limited Liability Companies (LLCs) and other planning vehicles may also play a role in an estate plan. A comprehensive estate plan usually includes durable powers of attorney and advance health care directives (health care proxies or health care powers of attorney and so called "living wills"). There is "no one size fits all" and, as your facts change, your documents may also need to change.
Be proactive and speak with one of our estate planning attorneys today about estate planning in Maine, New Hampshire and Massachusetts.