Estate Planning
Estate planning is about making thoughtful decisions today to help protect the people and things you care about most. It involves taking steps to ensure that your assets are passed along to the individuals and/or charitable organizations you choose, in the most effective way possible, while helping protect your privacy and financial well-being.
Just as importantly, estate planning means preparing for the unexpected. This includes choosing people you trust to manage your financial affairs and make medical decisions on your behalf if you are ever unable to do so yourself. Having these plans in place can provide comfort and peace of mind for both you and your loved ones.
Our process begins with getting to know you, your family, your concerns, and your wishes. We will take the time to understand what matters most to you, learn about your assets, and listen carefully to your hopes for the future. Every family is different, and your estate plan should reflect the things that are most important to you. Our goal is to walk alongside you through this process, explain your options in a clear and thoughtful way, and help you create a plan that meets your needs, honors your wishes, and fits your budget. We want you to feel comfortable, informed, and confident that you have taken meaningful steps to protect yourself and the people you love.
The foundation of a good estate plan typically begins with either a Last Will and Testament or a Revocable Living Trust. Together, we can explore which option best suits your circumstances and helps provide the peace of mind you deserve.
The right estate plan is one that reflects your life, your loved ones, and what matters most to you. You may wonder whether you need a Will, a Living Trust, or simply a few documents to make sure your wishes are honored. The answer depends on your unique circumstances, including your family, your assets, your goals, and your concerns for the future. Estate planning isn’t just for the wealthy or those nearing retirement. Whether you own a home, have savings, are raising a family, or simply want to make things easier for the people you love, having a plan in place can provide comfort and peace of mind.
To help you better understand your options, the table below compares the different types of estate planning and highlights their key features and benefits. As you explore these options, remember that you don’t have to figure it all out on your own. Together, we’ll take the time to understand your needs, talk through your choices, and create a plan that protects what matters most to you, honors your wishes, and fits comfortably within your budget.
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| Feature | Beneficiary Designations + Ladybird Deeds | Will | Revocable Living Trust | Irrevocable Trust |
|---|---|---|---|---|
| Maintain complete control over your assets | Yes | Yes | Yes | No |
| Incapacity protections | No | No | Yes | No |
| Avoid probate | Maybe; all named beneficiaries must survive you, be adults, and have capacity | No | Yes, if all of your assets are funded into the trust | Yes, if all of your assets are funded into the trust |
| Flexibility to change/amend | Yes, if you have capacity | Yes, if you have capacity | Yes, if you have capacity | No |
| Privacy | No | No | Yes | Yes |
| Empowered administrator when you pass | No | Yes; the Probate Court will appoint your Personal Representative | Yes; your Living Trust appoints a Successor Trustee | Yes; your Irrevocable Trust appoints a Successor Trustee |
| Creditor protection for you | No | No | No | Yes |
| Creditor protection for your beneficiaries | No | No | Yes | Yes |
| Protections for minor children | No | Maybe; but must be granted by the Probate Court | Yes | Yes |
| Protections for special needs beneficiaries | No | Maybe; but must be granted by the Probate Court | Yes | Yes |
| Asset protection for beneficiaries | No | Maybe; but must be granted by the Probate Court | Yes | Yes |
| Income tax planning | No | No | Yes | Yes |
| Estate tax planning | No | No | Yes | Yes |
| Medicaid eligibility protections | No | No | No | Yes |