Estate planning services are proactive and include drafting documents like wills, trusts and power of attorneys to help a client put into place a plan that will be carried out when he passes away or becomes incapacitated. Estate planning also includes planning for the needs of disabled persons and making certain health care designations in case those conditions arise.
Estate administration services occur after the triggering event and help to effectuate the plans put in place or if no plans were put into place, then carry out the details of administration pursuant to applicable laws.
Most estate administration services include:
- preparation of federal estate and gift tax returns, as well as fiduciary tax returns including developing methods to minimize those taxes owed
- helping executors navigate the probate process
- working with beneficiaries to transfer assets, re-title assets and settle disputes regarding inheritances
- implementing small business succession plans triggered by death or incapacity
- preparing fiduciary accountings for trusts and estates in accordance with the probate process and the process of any financial institutions or insurance requirements
If a loved one has died or become incapacitated and you need assistance with administering an estate, please contact Stouffer Legal.
