Wills & Estate Planning
Estate planning involves determining who will receive your assets after your death and the manner and time when they will receive them. While you are alive, steps can be taken to implement pieces of the plan. For example, you might give some property away now, designate who your beneficiaries will be, set up trusts that will become effective (or continue) after your death, and so on. Careful planning takes into account your assets along with your needs, wishes, philosophy, and of course the tax laws. Our group includes attorneys with years of experience in all aspects of estate planning.
Wills
We can prepare a simple will for you, or it may be part of a more extensive estate plan. If you're wondering whether you need a will, read Eight Things You Should Know About a Will. We are always happy to answer questions about wills and estate planning. Call 515-327-1000 to come in for a free initial consultation.
Business Planning - If you own or have a significant interest in a business, you should think about what might happen when you die. Can the business carry on without you? Should a successor be named? Who will receive your share of the business? Are there deferred compensation issues? Our lawyers can help you ask the necessary questions and find the answers. It's just good business sense to include estate planning in your business plans.
Charitable Planning - Would you like some of your estate assets to go to your favorite charity? There are many ways to set this up to maximize your gift. We work closely with both individuals and institutions to facilitate charitable giving.
Trusts & Trust Planning
A trust is a legal instrument which permits control of property by a trustee, with restrictions on how and when the property may be used, and for whose benefit. It is often used as part of an estate plan, but can be used any time such control is wanted. It can be a very valuable tool to protect and preserve assets. Our attorneys can advise you on what a trust can do and whether it is appropriate for your purposes. We handle all aspects of trust planning, preparation, and administration.
Elder Law
"Elder law" broadly encompasses the legal concerns of the aging. We concentrate on helping families preserve their assets and care for their members. We find our clients have three major fears:
A parent will become unable to manage their financial affairs
An individual will become unable to care for him or herself, or make healthcare decisions
The cost of healthcare will wipe out the family's assets
Financial Affairs - There are a number of legal tools which may be used to prepare for the situation where a person can no longer handle their financial affairs. Depending on the situation, we might recommend, for example, a trust, a durable power of attorney, a conservatorship, or a "stand-by conservatorship." By planning ahead, you can designate who will handle your money for you. If your parent has already become incapable, we can help you find a good solution.
Healthcare Decisions - Many people fear that they might one day become unable to care for themselves, and will have things done for them against their wishes. There are several options you can choose from to protect yourself against this contingency - for example, a durable power of attorney for healthcare decisions (living will) or a "stand-by guardianship," both of which let you designate who will make decisions for you, and the principles that will guide those decisions.
Medicaid Planning - The fear of losing the family farm - or your life savings - to exorbitant healthcare costs, such as nursing home care, is a very real one. The good news is that there are ways to protect yourself and your family. The key is careful planning. Our attorneys can advise you on how best to preserve your assets. If you are concerned about this, call us today for a free initial consultation, and we'll tell you what your options are.
Probate
Probate is the process that occurs after death to "cleanse" the deceased's assets of claims of any creditors, relatives, and the tax authorities before passing them on to the beneficiaries of the estate. The person in charge of this process is called the executor. Our attorneys handle all aspects of probate administration, including advising and assisting the executor.
Probate & Trust Litigation
We also have experience in all types of probate and trust litigation, such as creditors' claims and will contests.
Guardianships and Conservatorships
Guardianships and conservatorships are court-authorized ways to allow one person to make decisions for another person. They allow the appointment of a "manager" to take care of the affairs of someone who has indicated that he or she is not capable of managing his or her own affairs. The power to make decisions for another has a large impact on the person whose affairs are to be managed. For that reason, it requires a judge's order to establish a guardianship or conservatorship. The person appointed by the court must file an annual report each year.
We have attorneys that specialize in these types of cases. We can help establish the guardianship or conservatorship and we can help the client in managing it as well. For more information regarding our practice, contact Wilson, Deege, Dollar, Despotovich & Riemenschneider today.