At the Andersen Firm, we have planned
for a vast array of estates ranging in size from a few hundred thousand dollars to
a hundred million dollars all the while realizing each specific case is different and
requires specialized attention.
We work closely with our clients and their financial advisors to assess their current
estate plans, if any, their financial situation, their assets and goals. It is our
objective to assist every client in creating a sound estate plan that will avoid tax
liabilities and probate, and protect the financial future of heirs and loved ones. We
are able to employ a variety of techniques including the 7 Components of a Foundational
- Revocable Living Trusts
- Living Wills
- Pour-Over Wills
- Health Care Powers of Attorney
- Financial Powers of Attorney
- Quit Claim Bill of Sale
As well as Advanced Planning Options to reduce / minimize estate tax exposure:
- Build Up Equity Retirement Trusts
- Qualified Personal Residence Trusts
- Irrevocable Life Insurance Trusts
- Limited Liability Companies
- Special Needs Trusts
- Private Foundations
- Grantor Retained Annuity Trusts and Grantor Retained Uni-Trusts
Do you have the Seven Mandatory Components of a Foundational Estate Plan?
Once your personal situation has been examined we design and develop a strategic plan
that can be updated when necessary, protect assets for children, adhere to changes
in tax laws and give peace of mind.
As part of our long-term commitment to our clients, our estate planning process continues
long after the paperwork has been signed. It is this highly regarded commitment and
process that helps hundreds of people each year with their estates and brings clients
back again and again throughout the changes in their lives.
- Revocable Living Trust
This instrument contains in-depth instructions for your care if you become mentally disabled, and the care of your loved ones upon your death. Furthermore, it efficiently transfers your property to your loved ones at the time of your death, avoiding probate and allowing for the maximum utilization of estate tax exemptions.
- Pour Over Will
Upon your death, your pour-over will leaves any property to your living trust that you did not put into it before your death. It functions as a safety net to make sure property you neglected to place in your trust can ultimately be managed by your Trustees pursuant to your instructions.
- Durable Power of Attorney
A durable power of attorney allows someone else to handle financial matters for assets in your individual name, particularly retirement plans. It is also used to put assets in your trust if you become mentally disabled prior to your trust becoming fully funded.
- Living Will
This instrument directs your physician as to whether or not to cease life-sustaining procedures which would serve only to prolong your death if you are terminally ill. It gives guidelines for your physician to follow, as well as clarifies your intent as to life-sustaining procedures.
- Health Care Surrogate / Health Care Power of Attorney
This instrument designates a health care surrogate or health care power of attorney if you are incapable of making health care decisions or providing informed consent. It must also account for HIPAA (Health Insurance Portability and Accountability Act) of 1996 to be effective.
- Quitclaim Bill of Sale
This instrument places your personal property (e.g. furniture and jewelry) into your trust, thus avoiding the need to probate your personal property.
Most assets will need to be re-titled into the trust to make the trust effective for disability planning and to avoid probate. Funding a trust is just as important as creating the trust.