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Law Offices of David M. Schlachter, LLC

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Estate Planning

Estate Planning - Control Your Future

There are various tools we offer our clients in order to best aid them and cater to their needs.

Proper estate planning is a necessary step to anyone with property or a family.

It is an easy way to Control Your Future.

 

Why do I need an Estate Plan?

 There are two trains of thought for those who do not think they need a will. First, there are those of the mindset that they are young, healthy, and invulnerable and do not need asset protection at this time. Second, there are those who think they have nothing to pass over to the next generation.

 

At Law Offices of David M. Schlachter we like to think of a will as peace of mind. Once you write one you know you are protected, your interests and desires will be followed, and that is one less thing you have to worry about. Indeed, we like to think that "will" is a good word. Once you know the reasons for having one and how easy, inexpensive, and unbrudensom it is to get a will drafted by our office, you will also think of it as a good word.


As to our first group
:

 

We all like to think of ourselves as lucky. But we are only as lucky and carefree as the protection we make for ourselves and our families. For example, you can walk outside on a summer day without worry that it will rain on you. If you carry an umbrella then you are truly care free, because you are prepared. If you had an umbrella that fit in your pocket you would place it there, forget about it, and be protected in case it rains. With a will you, and by extension your assets and family, will not be left out in the rain.

 

As to our second group:

 

For those who think they have nothing to pass over to the next generation, they often forget about real property, life insurance policies, pension plans, retirement savings plans, and most important of all: spouse and children.

Remember, Estate Planning is not only planning for the next generation. It includes retirement planning and it also offers tools available to control assets and reduce income taxes. Estate Planning can also help shelter assets in order to qualify for certain government programs. Estate Planning also has the important function of reducing the burden on family of administering the estate.
Additionally, domestic partners have their own special issues when it comes to estate planning.

Clients with investments further require Estate Planning to reduce their tax liabilities and to protect the distribution of the income. IRAs, annuities, and retirement properties require proper Estate Planning. 

On the related pages you can learn more about how wills and trusts can be used to make sure your assets pass to the next generation in a useful and efficient manner; in a way that allows the next generation to actually use the assets. And in a way that keeps the governments' hands out of the pie. You can also learn how your most important asset--minor children--are taken care of with a will. 

 

If you do not have life insurance, pension or retirement plan, you may want to contact our offices, visit our Professional Resources page, or use your own methods to find a financial adviser.