The area of law collectively referred to as “Estate Planning” involves the development of various legal instruments by which you control the management of your assets during your lifetime as well as the disposition of your assets upon your death.
At Delaney & Muncey, P.C. an attorney will meet with you in order to define the assets involved as well as determining how you want each asset treated. Our attorneys will then recommend the most appropriate legal instrument that will carry out your intent as well as providing the best tax treatments possible.
An estate plan will generally involve executing a Will, Durable Power of Attorney and Health Care Proxy. The Durable Power of Attorney and Health Care Proxy operate for you during your lifetime as to your financial and medical concerns, respectively. The Will that you execute becomes operational upon your death.
In addition to drafting your Will, Durable Power of Attorney and Health Care Proxy, our attorney may recommend that you create a Trust.
There are several types of trust instruments, both revocable and irrevocable, as well as charitable remainder and qualified personal residence trusts, as an example.
Our attorney will draft a trust instrument that both manages your assets according to your wishes, as well as providing the best tax treatment possible.