As anyone who has watched the news over the past year knows, estate planning is a new hot topic. Ever day we are faced with uncertainty, and estate planning has become a way for many to take back some semblance of control. And, at Vizzoni Law Firm, L.L.C., we craft customized estate plans that address our client’s asset transfer desires, while still addressing the potential tax consequences and asset protection concerns.
Estate planning?
At its core, estate planning is simply the legal strategies developed by a client and attorney that legally facilitates a non-intrusive, efficient and cost-effective transfer of assets to loved ones that can occur during one’s lifetime or at the time of death. These legal strategies include wills, various trusts, appropriate beneficiary designations for non-probate assets (like, retirement accounts, business succession planning, annuities and life insurance, planning with family limited liability companies or family limited partnerships) and elder law long-term care planning for Medicaid eligibility, like elder guardianship, etc.
Trusts?
Trusts may seem complicated, but with our help, we can simply the process and utilize trusts, where appropriate. For example, some trusts are designed to facilitate asset protection and/or asset preservation plan. This includes self-settled Delaware Trusts and Dynasty Trusts. There are also Special Needs Trusts, which are designed to preserve government entitlements paid to a disabled person. There are also trusts that are designed to gain Medicaid eligibility. And, this is not even an exhaustive list of trusts.
Additional advice and guidance
At Vizzoni Law Firm, L.L.C., in addition to estate planning, we also provide advice and guidance on other end-of-life issues. This includes how to employ living wills, health care directives and health care powers of attorney to help with end-of-life decision making. We can also example the long-term effect of disability insurance on other estate planning decisions. Our Bridgewater law firm serves Somerset, Union, Hunterdon, Essex and Middlesex counties in New Jersey.