Estate Planning Solutions
Use our legal expertise to construct wills, trusts, and estate planning strategies that will stand the test of time.
Protect Your Legacy, Provide for the Future
The importance of securing your assets and ensuring that your wishes are honored is absolutely paramount. You’ve worked hard for everything you’ve earned and conscientous legal planning is precisely how you’ll protect it.
Whether it’s choosing strategies to limit tax exposure, establishing trusts particularized to your needs, or constructing a plan of action in the event your unexpected incapacitation – having the details worked out ahead of time can protect your interests in times of uncertainty and save your loved ones from having to make emotionally exhausting and expensive decisions on their own.
Last Will and Testament
Trusts
Power of Attorney
Estate Planning Updates
Last Will and Testament
Our legal team will draft comprehensive wills to specify how your assets should be distributed and ensure that your loved ones are taken care of according to your wishes.
Last Will and Testament
Draft a will to specify how your assets should be distributed and appoint guardians for minor children.
Pour Over Will
A pour-over will is a type of will used in conjunction with a living trust to ensure that any assets not explicitly placed into the trust during the testator’s lifetime are transferred to the trust upon their death.
Trusts
At SMS Law Firm, we offer a range of trust services designed to help you manage and protect your assets now and into the future. Our expertise includes setting up various types of trusts to meet your unique needs:
Revocable Living Trust
Create a flexible trust that allows you to retain control over your assets, with the ability to make changes as needed during your lifetime. This trust helps avoid probate and ensures seamless management of your assets.
Irrevocable Trust
Establish a trust that, once created, cannot be altered or revoked. Ideal for asset protection and tax planning, irrevocable trusts help reduce estate taxes and shield assets from creditors.
Family Trust
Design a trust to safeguard and manage generational wealth, ensuring that your family’s financial legacy is preserved and distributed according to your wishes.
Corporate Trust
Set up trusts for corporate entities to manage business assets, protect shareholder interests, and streamline corporate governance.
Our trust services are tailored to provide comprehensive protection and management of your assets, offering peace of mind now and for future generations.
Power of Attorney
A power of attorney is a vital legal tool that allows individuals to designate someone they trust to make important decisions on their behalf, whether related to finances, healthcare, or other personal matters.
At SMS law firm, we understand the significance of these arrangements and are dedicated to guiding clients through every step of the process. Our experienced lawyers provide comprehensive power of attorney services, ensuring that each document is tailored to meet your unique needs and circumstances. With a focus on clarity, security, and peace of mind, we help you safeguard your interests and those of your loved ones, both now and in the future.
Medical Emergencies or Incapacity
If you are hospitalized, injured, or otherwise incapacitated and unable to make your own healthcare decisions, a medical power of attorney allows a trusted person to make medical and treatment choices on your behalf
Financial Management During Illness or Absence
If illness, incapacity, or even extended travel prevents you from handling your finances, a financial power of attorney enables your agent to pay bills, manage property, and handle banking or investment transactions for you
Military Deployment or Extended Travel Abroad
Individuals who are deployed in the military or traveling abroad for extended periods may use a power of attorney to authorize someone to manage legal, financial, or property matters in their absence
While these represent some of the most common situations where the need for power of attorney may arise, an endless plethora of possibilities exist. If you are unsure if your assets may become vulnerable in the event of your incapacity, it’s best to seek legal advice now rather than later.
An SMS attorney can optimize a plan for your situation, using their experience to review your assets and identify the risks they could be exposed to in the event of the unexpected.
Estate Planning Updates
Life is constantly evolving, and so are your estate planning needs. Major life events such as buying a new home, starting a business, or acquiring new assets are not automatically reflected in your existing will or trust.
In fact, one of the most common reasons that estate plans fail is due to a lack of accurate ongoing inventory of assets. This is why SMS lawyers work closely with our clients to ensure that their estate plans remain current and aligned with their evolving wishes. Regular updates are crucial to:
Incorporate New Assets
Ensure that newly acquired properties, investments, or business interests are properly included in your estate plan including recording deeds and transfers into trust.
Reflect Life Changes
Adjust your estate plan to account for significant life events, such as marriage, divorce, or the birth of a child. Including updating beneficiaries, trustees, and executors.
Optimize Your Plan
Update your plan to address changes in laws or regulations, and to take advantage of new estate planning strategies.
Corporate Trust
Set up trusts for corporate entities to manage business assets, protect shareholder interests, and streamline corporate governance.
We provide ongoing support to keep your estate plan in sync with your life changes, ensuring that your assets are managed and distributed according to your current wishes.
Our Estate Planning Approach
Our expert estate planning attorneys have created hundreds of trusts, wills, and succession plans tailored to each of our clients’ personalized needs and goals.
We are intimately familiar with the options available in these meticulous situations, as well as their short-term and long-term pros and cons. Without the proper legal knowledge and expertise underpinning it, any plan can fall apart – or worse, become a roadblock – wills can be invalidated, business succession can be interrupted, or assets may improperly become subjected to probate.
However, with diligent and preemptive strategies from one of our legacy planning attorneys, legal pitfalls like these can be avoided, possibly even for generations to come. To achieve the best results for our clients, SMS has developed a highly organized planning process to ensure that no detail is forgotten and no stone is left unturned when it comes to securing your legacy as you see fit.
Comprehensive Assessment
We begin by thoroughly understanding your assets, wishes, and preferred distribution methods. This helps us tailor an estate plan that aligns with your goals, beneficiary eligibility, and more.
Strategic Planning
Our team provides guidance on potential issues, recommends backup trustees, and structures your estate to address your needs effectively. We also identify strategies to minimize liabilities and ensure that your wishes are accurately reflected.
Customized Execution
We work closely with you to finalize and implement your estate plan, ensuring that it meets your specific needs and desires.
Ongoing Support
We maintain an open line of communication to adapt your estate plan as your circumstances change, ensuring that it continues to serve your interests effectively.
Estate Planning FAQ's
What are the benefits of creating a revocable living trust?
A revocable living trust allows you to manage your assets during your lifetime while retaining the flexibility to amend them as your needs change. For instance, if you acquire a new property or experience a significant life event, you can easily update the trust. Upon your death, assets held in the trust avoid probate, enabling a quicker transfer to your beneficiaries. This not only saves time and costs but also maintains your family’s privacy during the estate distribution process.
How often should I update my estate plan?
It’s advisable to review and update your estate plan every 3-5 years when you purchase properties, or whenever major life changes occur, such as marriage, divorce, or the birth of a child.
What is a power of attorney, and why is it important?
A power of attorney is a legal document that allows you to designate someone to make financial or medical decisions on your behalf if you become incapacitated. For example, if you’re in a serious accident and can’t communicate, your agent can manage your finances and healthcare decisions according to your preferences. This document is vital for preventing potential disputes among family members and ensuring your affairs are handled in your best interest.
Have additional questions?
Contact Us
We’ll provide you the peace of mind that comes with knowing your assets, holdings, and wishes will be secured, protected, and honored.