Issues of Estate Planning

What to do with one’s estate is a question which sooner or later confronts nearly all of us. Sometimes the question is easily answered, and sometimes it takes a fair amount of planning. Tax considerations, the protection of assets from one’s creditors, or from the creditors of intended beneficiaries can influence how an estate is planned. The appointment of a guardian or conservator for one’s children is often a major concern for parents. Lifetime gifts, trusts (either lifetime or established by will), the structure and ownership of personal and business assets, and the like may be as important as the proper designation of beneficiaries. Retirement benefits and life insurance play a significant role in one’s estate. Choice of trustees and personal representatives can also be important. Planning for the passing of one’s estate and provision for loved ones can be straightforward or complex. The assistance and advice of a competent attorney can serve to make the process less confusing and the result more effective. For assistance with estate planning, you should contact Richard J. O’Brien.