Tierney & Westerfeld, LC

Estate planning involves the management of your assets during your lifetime as well as your assets ultimate disposition after death. In addition to planning for your assets you will have the opportunity to make important end of life decisions in your advanced healthcare directive, often referred to as a “living will.” The proper method of conveying your assets after death depends largely on your individual situation and goals. There is no “one size fits all” estate plan.

 

The attorneys of Tierney & Westerfeld will work with you to develop an estate plan that will satisfy your financial goals. An attorney of Tierney & Westerfeld will be happy to meet with you for a free initial consultation. During this consultation we will discuss your goals for your estate plan and recommend an estate plan that will satisfy those goals. After your free initial consultation Tierney & Westerfeld will quote a flat fee for your estate planning services. Your estate plan may include a(n):

 

• Durable Power of Attorney
• Advanced Healthcare Directive
• Will
• Trust
• Beneficiary Deed(s)

 

There are certain events in life that make it important to create or update your estate plan.  Have you recently had a child?  Do you have minor children?

 

• Your estate plan gives you the opportunity to nominate guardians for your child in the unfortunate event that something should happen to you.
• Without an estate plan your assets may pass into a court supervised conservatorship, which may not provide effective management of your assets after your passing.
• Your estate plan gives you the opportunity to provide structure for the use of your assets after your passing.  You may want your assets to provide for the college or other educational expenses of your children.

 

Have you been recently divorced?

 

• If you had an estate plan in place, it is likely that this estate plan no longer achieves your objectives.
• A well drafted estate plan will allow you to provide for your children, without the risk of your former spouse gaining control of your assets after your passing.
• Your estate plan not only addresses what happens after you pass away, but also concerns decisions made during your life.  Your estate plan gives you the opportunity to nominate one or more peole to make financial as well as medical decisions if you become incapacitated.

 

Probate is a legal proceeding that gathers assets after an individual’s death and allows a period of time for creditors to file claims against the probate estate and ultimately distributes the assets. The attorneys of Tierney & Westerfeld are familiar with the many procedural aspects of probate and will work hard to see that your loved ones probate matter is handled efficiently and effectively. It is worth remembering that proper estate planning during your lifetime can eliminate the need for probate after death, saving time and money for your loved ones.

Call Tierney & Westerfeld, LC at (636) 447-4456 today so we can begin developing an estate plan to suit your needs.