For a client of modest wealth, the will may contain the complete transfer of that client's assets. For clients with more significant wealth, a will can serve to "pour" assets from a client's probate estate into a client's trust.
We can review your situation
and advise you on the best way to handle your estate.
We provide our clients with a full range of trust options, from straightforward trusts for the benefit of minor children, to joint trusts for married couples of moderate wealth, to revocable living trusts for clients with more significant wealth. Each trust is carefully drafted and receives "custom tailoring" as necessary. During a trust client's lifetime, the provisions in a trust may become outdated. If that happens, then we will "repair" the trust by creating an amendment to the trust which renews the trust.
Just as probate estates need to be settled, trusts have similar administrative needs. Creditors of trusts need to be paid, federal estate taxes may have to be paid, and distributions from the trust may need to be made over the course of a beneficiary's lifetime, or even longer if there are several beneficiaries. We have experience terminating trusts which are no longer needed.
A power of attorney allows a client to give another individual the power to make decisions about assets or about medical care and treatment.
We recommend these to
all of our clients.
We advise our clients that estate planning does not stop at death. Once the client dies, we work carefully with the heirs to make sure that after-death measures are taken in order to reduce taxes and to speed the
transfer of assets.
"Probate" generally refers to the process by which a person's estate and final affairs are settled. This normally involves paying creditors, paying any taxes and expenses and making final distributions. Like the planning options, we tailor probate services to fit each probate client's needs.
We can guide you from the set up of your business and the required documentation to the sale or dissolution of your company.
We have extensive experience in planning, drafting and administering these trusts which are designed to hold one or more life insurance policies.
These transactions involve development land, buildings, leases, easements, and purchase money mortgages.
We represent clients in the sale or purchase of single family homes and condominiums and in gifts between relatives of homes or land.
We have extensive condominium law experience. We can guide you through setting up your Association and maintaining your current Bylaws.
We have experience reviewing, negotiating, and advising clients about all types of contracts.
This website is for informational purposes only. Using this site or communicating with John V. Polomsky II, P.C.. through this site does not form an attorney/client relationship. This site is legal advertising.
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