Wills, Trusts & Estates
At A. Schancupp & Associates, L.L.C., our attorneys are well versed in the intricacies of estate planning and probate administration, and as a result, clients look to us for asset protection and minimization of monetary loss through taxation.
WILLS, TRUSTS & ESTATES
An important step for any estate, no matter what size, is drafting a will and when appropriate, also devising a trust that not only ensures financial security during retirement, but also offers future guidelines, provisions and protection for the family in the event that a family member dies. Crafting a trust that safeguards and complements the unique aspects of an estate requires an experienced attorney who, based on accurate financial analysis, is capable of evaluating the appropriate type of trust, along with incorporating terms and conditions that satisfy particular client needs. Proper legal guidance in drafting and reviewing a trust also addresses the desired provisions for children and grandchildren. In many cases when a trust is drawn up, it is also advised to draw up a will so aspects of the estate not covered by the trust are certain to be addressed.
LIVING WILLS
A living will defines one’s wishes of how medical treatment will be administered in the event of a terminal illness or condition, such as to what extent resuscitation and life support measures are to be continued as well as the use of feeding tubes and drugs for pain. Making these vital decisions ahead of time and consulting an attorney who has extensive experience in drafting and reviewing living wills can not only ensure a client’s wishes are carried out, but also saves considerable anxiety for their family when facing these medical issues.
POWERS OF ATTORNEY
Establishing a power of attorney allows a family member who has become mentally or physically incapacitated to have their affairs managed by a person that they trust, one that they would choose as their legal representative. Our attorneys assist clients in determining who would be most capable and suited to act as a power of attorney. We also assist clients by explaining the different kinds of powers of attorney appropriate for various situations, such as durable and springing powers of attorney.
CONSERVATORSHIP / GUARDIANSHIP
In the event that a parent or relative is no longer capable of managing his or her own affairs and assets, our estate planning and elder law attorneys help clients understand the legal options available, such as Guardianships and Conservatorships. The elderly who develop Alzheimer’s, dementia or other mental or physical disabilities find themselves unable to cope and handle their daily activities and finances. By establishing a Guardianship or Conservatorship, legal assistance can be provided to safeguard their welfare and assets.
ESTATE & LIFETIME PLANNING
Careful and detailed estate planning enables Decedent’s, upon their death, to provide for the future financial well-being of their families. Lifetime planning, through the proper gifting of assets, reduces the gift-giver’s future estate tax obligations, and provides a better lifestyle and financial security to the recipients of such gifts.
In addition, estate and lifetime planning is a necessity for individuals involved in a domestic partnership to ensure that the assets of a domestic partner are administered and/or distributed in accordance with one’s wishes. Furthermore, such planning addresses issues such as guardianship of children, medical and healthcare provider decisions and the rights and obligations of domestic partners.
PROBATE & ESTATE ADMINISTRATION
Our attorneys effectively ease clients through the probate system, saving unnecessary court costs, time and added expense. Our attorneys will probate the will or assist with the appointment of an administrator, and distribute the decedent’s assets in accordance with the estate planning documents or laws of intestacy. Our estate administration services include collection of assets, preparation of all documents necessary for the administration and termination of an estate, payment of debts and taxes, and distribution of inheritances to beneficiaries and heirs.
For detailed information provided in the following litigation areas, please click on the respective area.
For a detailed description of Probate Litigation, please click on Probate Litigation and view our Litigation section.
For a detailed description of Elder Law Litigation, please click on Elder Law Litigation and view our Litigation section.
To discuss concerns regarding trusts, wills, and estates, please email info@schanlaw.com or contact our office at 973-808-5555 to arrange a consultation.
