Nusinov Smith, LLP attorneys are experienced in estate planning and are here to guide you through the estate planning process beginning with asking the right questions. But true legacy planning only succeeds when your answers are integrated into a plan that truly reflects your vision:
- Who do you trust to carry out your wishes?
- What is your philosophy about transferring wealth to the next generation?
- Who should benefit from your lifetime of hard work?
- What do you want to teach your loved ones about charitable giving?
Financial Power of Attorney: Have you developed a plan for what will happen if you became unable to manage your financial affairs? A strong, well-drafted financial power of attorney is the cornerstone to protecting your assets while you are living and to providing a roadmap for honoring your wishes if you become unable to make your own decisions. Failing to have a valid power of attorney in place if you become incapacitated could lead to serious delays as your loved ones are forced to seek costly court intervention in order to step in and manage your affairs as a guardian. The attorneys of Nusinov Smith, LLP, are skilled in guiding clients through the process of identifying the right agent to nominate for this critical role.
Advance Medical Directive: Have you set out in writing your wishes for end-of-life care and healthcare decision-making? A valid advance medical directive (or healthcare proxy) allows you to nominate a healthcare decision-maker and to provide that person, and your doctors, with written guidance on your wishes. Our attorneys can help you consider various possibilities and alternatives, harnessing your experience and perspective to set out a plan to provide you with peace of mind. Failing to have a valid healthcare directive in you become incapacitated could lead to serious delays and court costs if your loved ones are forced to seek court intervention in order to step in and manage your health decisions as a guardian.
Wills & Trusts: Have you set out in writing your wishes for what will become of your assets and financial holdings upon your death? Failing to update your estate plan in light of the changing tax laws or changes in your family can leave your loved ones tied up on unnecessarily complex trusts that diminish the impact of your wealth transfer for generations. Choose attorneys familiar with the impact tax laws will have on your loved ones when you are no longer there to guide them so you can ensure a smooth transition during a rocky time. Your valid and up-to-date estate plan provides guidance to your loved ones need during the most difficult time - having an attorney who listens to you and can help translate your wishes into a reliable plan is the best gift you can give:
- Does your estate plan include your current relationships and loved ones?
- Does your estate plan take into account up-to-date tax laws?
- Do your beneficiary designations align with or undermine your will?
- Do your wishes call for a simple will or is more complex planning needed?
Nusinov Smith LLP can ensure that your wishes are written, executed, and honored in the next generation. Remember: It is never too early to plan, but it can become too late.