The most important decisions many of us ever have to make involve how to take care of the ones we love once we are no longer able to do it ourselves. A small effort in planning today will ensure that your affairs are handled by someone you trust and according to your wishes. Time and money are saved by avoiding probate and minimizing taxes. Your beneficiaries are protected and unintended consequences are prevented. This simplifies things and eases the burden for you and those you love.
If you choose not to plan how your estate will be distributed after you’re gone and who will handle your affairs, the government will decide for you. While there is nothing inherently wrong with state laws involving estate distribution, laws cannot adjust and respond to individual circumstances. And some times, the way the state would distribute your estate is exactly what you don’t want.
Planning now also ensures that if you or a loved one becomes incapacitated, everything is in place to provide the help needed without court intervention.
We seek to demystify the estate planning process so that you can focus on protecting your most important assets: Those you love.
Guthrie and Ellerman tailors its practice to the following areas:
Estate Planning is the process of determining the best way to transfer your estate to those you want to receive it. Estate planning is not only for the wealthy - Proper planning can avoid the future costs, conflicts and possible years of delays in probate court. Additional tax planning helps to ensure less of your financial legacy is taken by the government.
Conservatorships are legal relationships overseen by the Court to provide for someone who is no longer able to care for themselves, whether personal, financial, or both. A conservator may be a willing and able family member, a friend, or a professional fiduciary.
Probate is a court-supervised distribution of a person’s estate after they die, whether or not they had a Will. The Court determines who receives which assets, the laws dictate the cost, and the process can take months or even years to complete.
Trust Administration is the management and distribution of assets held in a trust, avoiding court intervention and bringing to fruition the decedent's wishes. Administering a trust is a smoother and less expensive process than probate.
Special Needs Trusts are designed specifically to protect and provide for those with special needs or disabilities, ensuring their well-being and the benefits.
Elder Law involves planning for benefits or other methods to pay for long term care when a person can no longer live on their own.