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Estate Planning

Estate planning is the process of providing for the management and distribution of your property upon your death and, in the event of incapacity, the management of your property and financial affairs as well as the carrying out of your health care wishes. In accomplishing all of these goals, a comprehensive estate plan takes into consideration, among other things:

  • Guardianship for minor children
  • Second marriage concerns (providing for both children and the non-parent spouse)
  • Specifics regarding your beneficiaries (substance abuse, spendthrift issues, special needs)
  • Minimization of estate and gift taxes at both the federal and state levels
  • Beneficiary designations regarding retirement accounts
  • Business succession planning
  • Use of life insurance
  • Titling of assets (joint ownership with right of survivorship, sole owner)
  • Probate avoidance
  • Charitable considerations

In order to effectuate such a comprehensive plan, the coordinated use of various legal documents is required, depending on each client’s specific desires and circumstances. For many clients, a will, revocable trust, financial power of attorney and advanced health care directive (which includes living will provisions, appointment of a health care representative and anatomical gift provisions) are most appropriate. Ray works closely with each of his clients to learn about their particular family and financial situations, as well as their overall concerns, goals and wishes, in order to coordinate and put in place for them a comprehensive estate plan best suited for them and their family.