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"We have trusted Lerners for three generations" Estate planning is highly personal, and can be complicated and emotional. Each situation is unique and calls for the help of a legal professional who not only understands the range of emotions you're going through, but also what needs to be done to ensure that your wishes are upheld and your loved ones protected. The estate planning team at Lerners has extensive experience assisting families through the difficult—and sometimes painful—estate process. As part of a full-service firm, we have the ability to draw upon the legal expertise of specialists in business law, personal injury, family law and real estate. Working closely with your financial advisor, your estate planning team will ensure that no detail is overlooked and that your plan accurately, professionally and legally states your wishes. The legal assistance you need for all areas of estate planning For more information on our specific areas of expertise, click the links on the right or scroll down. |
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Wills
There are a number of reasons for making a will. You can name a guardian for your children should you pass away before they reach adulthood. Their welfare could be severely affected if provisions have not been made for guardianship in the event of your death. You can also ensure that your assets are distributed according to your wishes. Wills should be updated as circumstances in your life change, such as the birth of a child, a death in the family, marriages, divorces and property acquisition. You should also review your will regularly to make sure it continues to reflect your wishes.
Estate Administration
If you are an estate trustee (previously known as an "executor"), you are responsible for ensuring that the estate is distributed properly. Apart from the considerable time that may be involved, you may have to handle complex issues. An experienced estate lawyer can help you through the estate administration process. Lerners' lawyers have helped many estate trustees to carry out their responsibilities, and have counselled beneficiaries.
Powers of Attorney
A power of attorney is protection for you in the event that you become unable to make important decisions while you are alive. For example, you may be in a coma. With a power of attorney, you appoint someone you trust to make decisions on your behalf, such as handling your financial affairs or taking responsibility for your medical care. Lerners' estates lawyers are well versed in the preparation of powers of attorney, ensuring that your wishes are properly recorded and communicated, and hence respected.
Trusts
Trusts are set up to preserve assets for a particular purpose, like educating children, caring for someone with special needs, or creating a fund for a charitable purpose. Trusts must be created properly to ensure that the funds are protected for the intended purpose, and to be tax-efficient. As we have done for many clients, our estates lawyers can advise you if a trust would be an effective way to achieve your goals.
Tax Planning
One of the principal goals of estate planning is effective tax planning. We assist clients with their tax planning in the areas of intergenerational wealth transfer and business succession. We work closely with our clients' other advisors, such as accountants and financial planners, to ensure that an efficient and tax-effective plan is put in place.
Many clients have a philanthropic or charitable aspect to their estate planning. We have expertise in helping clients achieve their goals, both by recommending the appropriate gift to charity and by ensuring that the form of the gift best achieves the clients' personal and tax objectives.
To hire a legal specialist in any of these areas of law, find an estate planning lawyer or contact us , and we'll be happy to refer you to one.
