ESTATE PLANNING: WILLS, TRUSTS, AND POWERS OF ATTORNEY

Estate planning can be a complex and emotionally trying process. Nonetheless, it is extremely important to ensure our loved ones will be cared for in the future. Mark Reider is an experienced attorney you can trust to treat these delicate matters skillfully, and lead you through them with the care and attention you deserve.

The future is unpredictable. The best one can do is prepare now for what it may hold. It is never too early to start planning for one's future. While this applies to everyone, it is particularly crucial for those with loved ones depending on them. Mortality is a tough reality to face, but one doesn't have to face it alone. Mark Reider knows the importance of easing the transition of property and settling of affairs for family members.

Each individual's estate may require specific areas of need that may have not been considered. Having an estate planning attorney help one create a plan to avoid the pitfalls of taxes, court costs, and legal fees goes a long way saving loved ones stress, time, and money. It is necessary to get an attorney with the experience and knowledge to correctly convey one's desires. Mark Reider can help thoroughly establish matters regarding wills, any related trusts, and Powers of Attorney for health and decision making in the event one is unable to make these decisions themselves.

trusts

Trusts

Trusts are an essential part of relieving tax burden. While there are many types of trusts, the most common is probably a Revocable Living Trusts. Trusts allow one to dictate who will get one's assets when one has passed away and when they will get those assets.

Types of Trusts

Simple Wills
Complex Wills - Estate Tax Planning
Wills with Testamentary Trusts
Special/Supplemental Needs Trusts
Trusts for Children
Allocations of Assets
Interpretation of Trust Provisions
Trust Contests
Trustee Removal
Trust Modifiction
Honorary Trusts
Marital Deduction Trusts
Testamentary Trusts
Charitable Trusts

Advantages of a Revocable Living Trust

Protects your privacy
Keeps your options
Eliminates disputes
Ensures proper use of assets
Avoids probate court
Saves time and money
Offers protection from solicitors and creditors

small business succession

Small Business Succession

For those owning a business or business interests, it is important to consider how these area transferred in the even they retire, become incapacitated, or deceased. Besides mitigating taxes, a business succession plan helps assign the transfer of responsibilities and ownership.

Advantages of Small Business Succession

Planning for future leadership roles and operational responsibilities
Avoiding probate court
Limiting tax and business liabilities
Protecting business assets
Negotiating and executing buy-sell agreements
Solving potential business operation disputes
Establishing the value of your business
Providing for the financial interests of non-involved heirs
Preventing the sale of a family members business interests to a third party
Strategize for the funding of a company

Probate

Probate is the process in which courts determine how one's assets will be distributed upon one's passing. While there are methods in place to attempt to avoid probate, it is sometimes inevitable and ultimately in one's best interests. Mark Reider can help you plan for these complicated and unforeseen circumstances.

Whether formal probate, informal probate, or estate planning, Mark Reider is a reliable advisor able to help navigate the many responsibilities of a personal representative (executor).

Responsibilities of Personal Representative (Executor)

Notifying heirs of the estate's opening
Having the deceased's property appraised
Processing and paying valid creditor claims
Collecting and managing life insurance proceeds
Creating a bank account for the estate and keeping a ledger
Inventorying all property and assets
Filing potential final income taxes and federal estate tax returns
Preparing and submitting all necessary documents deemed by the probate court
Disbursing assets to the appropriate beneficiaries
Closing the estate