A significant focus of our practice is assisting clients in Stamford, Connecticut and elsewhere with their estate planning. Whatever a client’s goals are, or what their asset level is, the number one mistake they can make is to not plan at all.
A well thought out estate plan will plan for the guardian of minor children, reduce or avoid estate and succession taxes, arrange for the management of assets, and handle any planning necessary for a spouse and/or children that have special needs.
When we handle these situations for taxpayers we work with clients to find out what they want to happen and how they want their affairs managed and we create a plan and execute documents to make sure the plan operates the way the client wished.
A common plan for our clients in Stamford, Connecticut as well as elsewhere may involve any combination of the following:
2. Living Wills and Health Care Proxies
3. Durable Power of Attorney
4. Revocable Trusts
5. Life Insurance Trusts
6. Qualified Personal Residence Trusts
7. Charitable Trusts
Failing to do any planning can create chaos and wreak havoc on families. Without a valid Will a court may decide who becomes guardian of your children. You may lose tens of thousands of dollars to taxes and probate court fees. Your assets will be divided based on your state’s statutory scheme, not your wishes. And for families with special needs, state benefits will be lost until the estate assets are used up paying for very expensive care.
Eric L. Green, Esq.
Convicer, Percy & Green, LLP
60 Long Ridge Rd., Suite 202
Stamford, CT 06902
Ph. (203) 602-5550
Fax (203) 286-1311