The attorneys at Resch and Root help individuals, families and small businesses understand and appreciate the importance of estate planning. They provide professional advice and help clients create effective strategies for the future.
The attorneys utilize techniques such as wills, revocable and irrevocable trusts, special needs trusts, family limited partnerships, family limited liability companies, child protection trusts and charitable trusts, among others, to help clients implement estate planning goals and transfer and preserve wealth.
Revocable Living Trusts (More Information)
A trust is a contract between its maker and the trustee. In the contract, the trust maker gives instructions to the trustee concerning the holding and administering of trust assets. These instructions specify how the assets are to be held and distributed during the maker’s good health, upon his or her disability, and ultimately upon his or her death.
Wills (More Information)
A will is any written document in which the maker states his or her intention to devise or bequeath his or her real or personal property at death. For a will to be legally enforceable, it must conform to the specific legal requirements of the state in which it is created.
Probate (More Information)
Probate is the court supervised administration of your estate. It generally has three purposes: (1) to identify all of your assets; (2) to pay your bills and resolve disputed creditor issues; (3) to oversee distribution of your estate as you directed.
Special Needs Trusts (More Information)
The primary planning consideration in the creation of a special needs trust is to ensure that the trustee’s powers will not cause the special needs individual to be ineligible to receive the federal and state benefits to which he or she is entitled. Consequently, the trust should be designed to supplement, not replace, federal and state benefits.
Trusts for Children (More Information)
Through the use of trusts, parents can provide for their children according to each child’s unique needs and in ways that will best fulfill their desires for each child. Properly drafted child protection trusts can provide asset protection from a child’s creditors and protection from loss or division of a child’s inheritance in a child’s divorce.
Disability Planning (More Information)
Planning for the inability to manage ones person or affairs due to injury, illness or age can help minimize concerns over health care, financial decisions, taxes, and quality of life.
Asset Protection (More Information)
Asset protection is the process of organizing one’s assets and affairs within an estate plan that protects assets, not only from liabilities and litigation, but also from living and death probates and death taxes.
Business Planning (More Information)
Business planning involves creating the proper entity and planning for its succession to other individuals or family members.
Charitable Giving (More Information)
Charitable giving by way of outright gifts, trusts, and foundations can provide individuals a significant reduction in income and estate tax liability and allow a person to fund charitable causes that they believe in.
Trust Administration (More Information)
Trust administration replaces probate when the decedent has a fully funded living trust. Certain rules still apply to the administration of the trust and the trustee must observe those rules.
To discuss your specific needs, call 1-614-760-1801