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Estate Planning

Estate planning

By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death, according to your goals and objectives. For example, you may have a modest estate and may be only concerned with certain people receiving certain items.  Or, you may have a large estate, and minimizing or eliminating potential estate taxes may be your foremost goal.  Overall, an estate plan can help to reduce tax liabilities, court costs, and attorney’s fees, and it can also make it easier for families to cope with the administrative and financial issues that arise after the loss of family members.  Tools for estate planning may include: wills, trusts, powers of attorney for healthcare and property, and transfer on death instruments.

Mr. Nichelson will work closely with you to review your situation, and look at aspects such as age, health, wealth, lifestyle, life stage, goals and other factors.  During the initial meeting, Mr. Nichelson will find out more about you and discuss ideas in regards to your estate plan.  He will then recommend a course of action, and if he requires any documentation from you, he will ask you to bring it in to the office.  Mr. Nichelson will then work to complete the documents you need to reach your estate planning goals. These documents will also be valid if you should change the state of your residence, however it is still a good idea to consult and attorney who practices law in the state of your new residence because laws do vary from state to state.