Proper estate planning is essential to ensuring the orderly transfer of family assets, including business assets. Wealth transfer can occur both before and after your death. The goal of a well-designed estate plan is to ensure that your assets pass to those whom you wish to receive them, in the manner in which you wish those persons to receive your assets, and at a minimum cost in terms of administration expenses, court costs, attorney’s fees and taxes.

If you create a trust during your lifetime, then the provisions of your trust will control the disposition of the assets held in the name of the trust or transferred to the trust upon your death pursuant to your will. In many estate plans a revocable trust is the core planning document. If properly structured and funded, a revocable trust plan may avoid the need for a probate proceeding.

Good estate planning requires expert advice about tax law, business succession, contingency planning and property law. If you or a loved one becomes incapacitated or dies unexpectedly you will have peace of mind knowing everything is in order.