Estate Planning

It is never too early to start planning for the future. Time goes by too fast. You need to be sure that you have everything in order now so your family is protected. Things happen. Don’t let something unexpected impact your family. Be sure you leave a lasting legacy and call us now.

Last Will and Testaments

A will can be one of the simplest but most important documents in your estate plan. A will is a legal document that lets you tell the world who should receive your assets after your death. It also allows you to name guardians for any dependent children. Without a will, the courts may decide what happens to your assets and who is responsible for your children. It is critical that everyone has a will to be sure your wishes are fulfilled and that the decisions will be yours, not that of others.

Mosca Law can help you quickly create a will that will be sure to follow your estate plan. Protecting your assets for the benefit your heirs. Beware of the use of self-help forms and programs where you may unintentionally jeopardize your estate. Using a local and trusted attorney will make sure your will is executed correctly according to what you want and consistent with local laws.

Trusts

A trust is designed as an estate-planning tool for your family, primarily if you have a net worth of at least $100,000 of assets including real estate, business, art, etc. Trusts allow you to make more detailed stipulations to best protect your inheritance and ensure your family legacy. You can leave your estate to your family in a way that is not directly and immediately payable to them upon your death. For example, you may want to stipulate that they receive their inheritance in three parts, or upon certain conditions being met, such as graduating from college, etc.

  • You want to support your surviving spouse, but also want to ensure that the principal or remainder of your estate goes to your chosen heirs (e.g., your children from a first marriage) after your spouse dies;
  • You and your spouse want to maximize your estate-tax exemptions;
  • You have a disabled relative whom you would like to provide for without disqualifying him or her from Medicaid or other government assistance.

Advantages of Trusts:

  • Put conditions on how and when your assets are distributed after you die;
  • Reduce estate and gift taxes;
  • Distribute assets to heirs efficiently without the cost, delay and publicity of probate court. Probate can cost between 5% to 7% of your estate;
  • Better protect your assets from creditors and lawsuits;
  • Name a successor trustee, who not only manages your trust after you die, but is empowered to manage the trust assets if you become unable to do so.

Trusts are flexible, varied and complex. Each type has advantages and disadvantages, which you should discuss thoroughly with your estate-planning attorney before setting one up.

Call Mosca Law today to schedule an appointment and review your options.