Preserving Your Family's Wealth for Future Generations
Drew & Cohen, P.C. helps people with all aspects of estate planning – from the preparation of basic wills and revocable trusts to the development of complex estate plans for those with substantial taxable estates. We personally support and guide every client to create a customized plan to protect and transfer their assets. We work to meet our clients’ unique needs and develop the appropriate plan to meet those objectives.
Ensuring Your Personal Decisions Are Carried Out
Have you properly outlined your desires for your own future medical care? How will your loved ones be supported upon your death? Have you appropriately expressed your intentions with regard to the disposition of your real and personal property upon your death? Do your heirs have the appropriate level of maturity to handle an inheritance? Drew & Cohen, P.C. can help with all aspects of preparing your estate plan, including:
- Guardian Memoranda
- Living Wills and Appointments of Health Care Representatives
- Estate Tax Issues
- Choosing the Appropriate Executor and Trustee
- Guardianships and Conservatorships
Drew & Cohen, P.C. prepares estate planning documents that are flexible and designed to fit your individual needs. We work closely with you to determine your goals and objectives and create the proper documents to carry out your intentions.
Your Last Will and Testament
A will is an essential document at every stage of your life. Your will provides the opportunity to distribute your property, establish care for your children and otherwise express your wishes upon your death. If you die without a will, the laws of the state where you live will determine how your property is distributed. Without a will, the probate court will determine who is responsible for administering your estate and who cares for your children, making decisions that might not reflect your desires. We draft wills that ensure your intentions are honored after you pass away.
Trusts are legal entities you create during your lifetime to hold your assets during life and/or upon your death. After your passing, the trust can continue to hold the assets for as long as you have determined or disburse them to your beneficiaries according to your wishes. A trust can also offer protection from lawsuits, creditors and taxes. Attorneys at Drew & Cohen, P.C. can help you create trust documents that effectively protect your assets and ensure that your specific intentions are carried out with respect to how those assets are handled after your death.
Appointment of Guardian
If you have minor children, your estate plan allows you to make decisions about their future care. Naming a guardian is especially important if you are a single parent, but even married couples must consider the remote possibility of perishing in a common incident. If you do not name a guardian, the probate court will appoint one whose decisions may not align with your parenting goals.
Power of Attorney
A power of attorney is a document that allows you to designate an agent who has authority to act on your behalf in specified or all legal or financial matters. In the event that you become incapacitated, it is important to designate someone you trust to do things such as access financial records and accounts, pay bills, make demand and settle claims, manage and invest assets, file tax returns, sell and manage property, and generally administer your property and assets as you would if you were able to do so. At Drew & Cohen, P.C., we encourage everyone to execute a legally enforceable power of attorney as part of their estate plan.
Living Will and Designation of Health Care Representative
Your living will sets the parameters for medical intervention should you become incapacitated. This assures that when you are most vulnerable, your wishes concerning medical care and treatment will be honored. It is also important to designate someone to be your health care representative to make important decisions about your health care when you are not able to do so yourself.
Changing Your Estate Plan
As your life changes, so might your estate plan. You should update your estate plan periodically throughout your life. Our attorneys draft revisions to estate plan documents that address changes in your financial situation, marital status, number of children, philanthropic interests and general lifestyle decisions.