What Is Estate Planning?

Estate PlanningMany people think “estate planning” is only concerned with the distribution of assets after death. While that is certainly part of it, estate planning can also address lifetime and end-of-life issues. For instance, a well-designed and properly implemented estate plan can ensure that a person of your choosing, a person you know and trust, has the authority to make financial and medical decisions on your behalf if you become incapacitated. Without a plan of your own, someone will be required to petition the court to gain control of your medical care and assets. This could be an individual you would never have chosen to make important decisions like these on your behalf. In addition, the court process involved, which is known as guardianship, can take a long time and cost a great deal of money.

This is just one example of what an estate plan can help you accomplish. Depending on your particular situation and goals, we can design a plan capable of helping you accomplish all of the following and more:

  • Ensure that you have complete control over your assets while you are alive
  • Leave what you want to whom you want in the manner you want after you pass away
  • Ensure that your minor children will be raised according to your wishes if something terrible happens to you and your spouse
  • Protect your assets against lawsuits, creditors, long-term care costs, and other threats
  • Pass your values, work ethic, and sense of responsibility on to heirs
  • Minimize estate, income, gift and other taxes
  • Ensure that your financial affairs remain private
  • Protect the inheritances of your loved ones
  • Leave a lasting legacy and impact on society

Accomplishing goals like these depends upon close collaboration between you and a knowledgeable, experienced estate planning attorney. Attorney Thomas F. Torr has devoted his legal career to helping families from all walks of life protect their loved ones and assets through thoughtful, comprehensive planning. Unlike some law firms that essentially draft the same form-based estate plan over and over, Tom creates one-of-a-kind plans that address his clients’ unique concerns, goals, and hopes for their loved ones. In addition, Tom welcomes the opportunity to collaborate with your financial planner, insurance representative, accountant, and other key advisors to ensure that all your needs are covered.

Contact us today for a personal meeting with Tom to discuss your particular needs and goals.