Estate Planning

Many estate planning attorneys have never seen a courtroom. Michael’s extensive experience in various courts provides perspective that an attorney cannot obtain from drafting experience alone. Aisen Law provides complimentary estate plan reviews to existing clients if we have drafted your estate plan. Most firms will bill hourly or will charge a recurring annual fee for this service. This provides you the comfort of calling or coming in to ask questions when life happens, without being charged. Only if changes are desired, will there be further fees.

Planning Ahead to Preserve Assets

Thinking about death, accident or illness is never pleasant. However, if something does happen, it’s good to know that family members will not be forced into making uninformed decisions or be burdened with excessive responsibilities. Planning ahead is much more efficient, inexpensive and thoughtful than unintentionally burdening family during an already difficult situation. Wills, living trusts, and powers of attorney can be very helpful with preserving assets and with getting property where we want it to go. Without a will or living trust, upon a person’s death, that person’s assets are disposed of according to state law, which may or may not match the deceased person’s desires.

What is a living trust?

A revocable living trust is a legal document that allows you to direct how you want your assets to be distributed when you die while allowing you to maintain control of those assets during your lifetime. A revocable trust can be revoked or amended as desired by the trustee. When a living trust is combined with a comprehensive estate plan, some of the benefits it can provide are the care of disabled and handicapped children (special needs trust), the prevention of taxation of life insurance proceeds (irrevocable life insurance trust), the private administration of a deceased person’s estate after death, the nomination of a successor by the deceased person to manage estate assets in the event the deceased person becomes incapacitated, the benefit of directing how estate assets are to be distributed at death and to whom, the benefit of allowing married couples to take full advantage of their lifetime exemptions to reduce or eliminate Estate Taxes, the option to pass property with limitations established by the deceased person, the option to establish educational funds for children, the option to distribute property to children in trust for the benefit of grandchildren, for the purpose of avoiding the Estate and Gift Tax at the death of the children, to the extent authorized under the generation skipping transfer tax rules, and the benefit of avoiding probate. An estate planning attorney can help you plan and select the appropriate options tailored to your estate planning needs.

How do I get started?

Simply contact our office for a free consultation at (702) 750-1590. After discussing your goals, we will provide you with options on how to best achieve those goals.