ESTATE PLANNING/ELDER CARE/GUARDIANSHIP
At Poff &Weber, we have the experience and expertise to help each client find and implement answers to important questions about planning the disposition of assets, health care decision making, and protection of assets during illness or disability.
The firm represents clients in dealing with complex estate planning and administration questions. However, attention to even “simple” matters can often make a significant difference in a client’s life. For example:
- The importance of advance health care directives ("living wills") and health care proxies is often overlooked by clients. A husband and wife contacted us for preparation of wills. At our initial meeting, we recommended that advance health care directives, health care proxies and powers of attorney be prepared in conjunction with the wills. Two years later, the health care proxy was used by the husband as authority to make critical health care decisions for his wife at a time when she was incapacitated and unable to speak for herself.
- In one case, when preparing wills for a husband and wife, the firm used special provisions in both wills to allow for flexibility in planning after the first spouse died. In this situation after the first death, the combined assets exceeded the federal unified credit threshold. The planning provision included by the firm was used by the surviving spouse as a means of lawful savings on the federal estate tax liability in the spouse’s estate.
We assist our clients in providing counsel with respect to common questions, such as:
- What happens to my family and property if I don’t plan?
- What strategy do I have in place for the administration of my assets in the event I become incapacitated or die?
- Where do I want my assets to go at my death? What tax and liquidity planning strategies are available to help me maximize my assets?
- Does my estate plan include new children, grandchildren?
- Has anyone included in my estate plan passed away?
- How can I protect and provide for my special needs child?
- I have a family business; how do I establish a succession plan? How do I equalize my assets among all of my children if only some will receive an interest in the business?
- What do I want to happen if I am in a condition such that I no longer can express my preferences about treatment?
- What decisions will be made for me by others if I have not planned for my own treatment in advance?
- What is the difference between a revocable and an irrevocable trust? When should one or the other be used for planning purposes?
- What are Living Wills, Health Care Directives? Do I really need one?
- What happens to me if I can’t handle my own affairs?
Estate Planning Questionnaire
Our Estate Planning Questionnaire is available for download and can be filled out online or printed out to complete by hand.
