Estate Planning & Administration
What Is Estate Planning and Why Do You Need It?
Estate Planning is the process whereby an individual develops a plan to distribute their physical and financial assets upon their death, for the benefit of loved ones or their favorite charities. Estate planning is designed by preparing documents to conserve, protect, and distribute your assets, taking into consideration the effect of state tax, federal tax, administrative laws and regulations. It can also involve planning for the use of your assets for your care if you become unable to manage your affairs during your lifetime.
Some people think that they do not have an estate, and therefore do not need to do estate planning. “Estates,” they reason, “are something only wealthy people have.”
Are you putting off estate planning because you're young, healthy and busy, or just find the topic depressing? You're not alone. Approximately 37 percent of those with assets exceeding $10 million don't even have a valid will, according to the Journal of Financial Service Professionals.
That percentage increases significantly for the rest of us, too. |
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The truth is that regardless of wealth, everyone has an estate. It is true, too, that virtually everyone should do some kind of estate planning.
 If you own a home, have some savings, or own any goods such as a car, furniture, or other form of personal property, then you have an estate. Planning for the future will affect the financial security of those you love. If you don't plan for what happens to your estate upon your death, the government will make those decisions for you.
You should have an estate plan if:
- You care about who inherits your property;
- You care about your health care treatment;
- You are the parent of minor or disabled children; and/or
- You want to avoid the public proceedings of a possible guardianship.
Estate Planning is complex – find the right Attorney
Brian Bronsther is an attorney licensed to practice law in the states of New York, Florida and Connecticut, with over 20 years of experience. He handles all aspects of estate planning, including creating wills and trusts, business planning, asset protection planning, wealth preservation planning, planning for incapacity and disability, and minimizing or eliminating federal and state tax liabilities.
We can help you direct your assets using a variety of techniques including:
- Existing federal and state tax law exclusions and gift allowances
- Trust Agreements (including A-B, Crummey, Gift, QPRTs, GRATs, QDOTs, QTIPs, Spendthrift trusts and others)
- Life Family Limited Partnerships Insurance, Living trusts and life estates
- Charitable Remainder Trusts
- Business Succession and Liquidity Planning
What is the next step to creating your Estate Plan?
First, schedule a free initial consultation to sit down with Brian to discuss your estate planning needs. In the initial consultation, he’ll review your current estate, including your business organization and financing structures, and learn about you and your family. He’ll help you define your estate planning objectives and provide you with the basis of the most effective roadmap to achieve those objectives, including strategies for prudent tax planning and asset protection planning.
Once you decide to engage Brian’s services, he’ll begin to create an estate plan that is tailored to meet your unique needs. Most importantly, his goal is to help you ensure a secure future for those that are closest to you. His specific practical solutions in estate planning may include your ability to maintain management and control of your estate, while at the same time avoiding probate, protecting family members, ensuring their financial privacy, and avoiding unnecessary taxation. We understand that every estate, regardless of its size, is an important one.
Remember, it not only matters that you start to plan – it’s also very important that you start before it’s too late. Contact our office today for a free initial estate planning consultation.
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