At its essence, estate planning involves developing legal strategies that facilitate an efficient, nonintrusive and cost effective transfer of assets to loved ones either during lifetime or at the time of death. At Vizzoni Law Firm, L.L.C., its founder and sole attorney, Anthony M. Vizzoni, crafts customized plans that address your stated asset transfer desires, while at all times addressing the tax consequences and potential asset protection concerns associated with the controlled disposition of wealth from generation to generation.
This includes Wills, trusts of all kinds, appropriate beneficiary designations for nonprobate assets such as retirement accounts, annuities and life insurance, business succession planning, planning with family limited liability companies or family limited partnerships, and elder law long-term care planning for Medicaid eligibility.
Trusts for nontax purposes are also used in estate plans where appropriate, including:
- Trusts designed to facilitate an asset protection or asset preservation plan, such as self-settled Delaware Trusts and Dynasty Trusts
- Special Needs Trusts designed to preserve government entitlements paid to a disabled person
- Trusts designed to achieve Medicaid eligibility
Where probate avoidance, privacy or estate lien issues are a concern, a Revocable Living Trust may be the appropriate alternative to a Will.
Finally, Anthony recommends and prepares Durable Powers of Attorney and Living Wills/Health Care Directives as a part of all estate plans.
Easing Asset Transfers To The Next Generation
An intelligent estate plan minimizes death taxes, avoids family disputes, disposes of your assets in the manner you desire, and provides your heirs with asset stability and protection. Regardless of the size and complexity of your estate, Anthony can assist you with:
- Creating Wills, and, where appropriate, trusts that provide unmistakable direction in carrying out your final wishes
- Drafting documents to create trusts that can protect assets and ensure that they are passed down to your designated loved ones
- Preparing “stretch IRA trusts” and related beneficiary designations for distributions from qualified retirement accounts and IRAs
- Updating your estate plans to take advantage of recent or subsequent changes in the federal estate tax law or the New Jersey inheritance or estate tax laws.
Making Decisions About Long-Term Care And Elder Law Matters
Estate planning does not just benefit the beneficiaries and heirs of your estate. By discussing what should be done in the event of your incapacity, you also can feel confident that you and your dependents will be provided for if you become unable to make decisions for yourself or for your estate during your lifetime.
Anthony can assist you with this aspect of estate planning and can also provide advice and guidance on:
- The impact of long-term disability insurance on other estate planning decisions
- The use of trusts to facilitate qualifying for Medicaid assistance to enter a nursing home without having to deplete your assets
- Employing Living Wills/Health Care Directives and Health Care Powers of Attorney to clarify surrogate health care decision-making
Bring Your New Jersey Estate Planning Questions to Anthony
Vizzoni Law Firm, L.L.C. is located in Bridgewater and serves Somerset, Union, Hunterdon, Essex and Middlesex counties in New Jersey. Call 908-304-0499 or use the online contact form to set up an appointment.