Estate planning refers not only to wills and trusts, but also to a range of activities related to providing for the financial needs of yourself and your loved ones, now and in the future. It includes providing for your loved ones after your death, making gifts to charities, planning for when you become unable to manage your affairs, and deciding who will care for your children and other loved ones after your death. Thoughtful estate planning can minimize expenses such as taxes and administration costs and ensure that more of your estate goes to those you want to have it.
Estate planning is particularly important if you are not legally married. For example, if you die without a will, your estate will automatically go to your legal relatives — e.g., your parents, siblings, aunts and uncles — instead of your partner. Timely and appropriate planning can provide many of the benefits and legal protections of legal marriage to your partner and children.
Which of the available tools may be appropriate for you depends on your goals, circumstances, and resources. Paul is happy to meet with you to help you come up with your plan, draft the legal documents necessary to accomplish it, and assist you in administering your plan.