Many people believe that "estate planning" is only for the very wealthy and deals only with the distribution of one's assets
after death. In fact, estate planning is for everyone - whether you are young or old, married or single, wealthy or not, you need to get your affairs in order. Often people are motivated to
prepare an estate plan following a major life event, such as the birth of a child, major illness or death of a loved one. However, one is better served by preparing their estate plan at a less
A comprehensive estate plan requires an inventory of assets, consideration for and planning against any gift and estate taxes, planning for administration and protection of assets during life, and planning for decision making in the event of incapacity. At a minimum, a complete estate plan includes a will, a general durable power of attorney, and an advance health care directive. In some cases, a revocable living trust, a life insurance trust, a special needs trust, or other advanced planning documents may also be appropriate.
When the Law Offices of Gary Cornick, LLC, works with clients who want to put their affairs in order, we send an Estate Planning Worksheet in advance of the initial consultation. The questionnaire seeks information about family, objectives, and assets. It asks the client to consider family members or friends to name as Personal Representative, Agent under Power of Attorney, etc.
At the initial consultation, we discuss and learn about your family, your finances, and your estate planning goals and long-term care planning objectives. At the conclusion of this first meeting, we are able to outline legal services and strategies to meet your needs. Every estate plan is unique. Some are rather straight-forward and some are complex. Most often, following the first meeting we are able to state a flat fee for the services to be provided. In the alternative, we estimate the fees to be charged based on hourly billing.
Do you have questions or do you want to make an appointment in this area?
Call us at 908.253.0404 or use our contact form.