Our firm also provides estate planning services. Our primary goal in planning your estate is to plan around estate and gift taxes that may be assessed upon the transfer of your estate's assets after death to your beneficiaries.

Having an estate plan serves multiple purposes.

One purpose is to avoid probate. The disadvantages of having to go through the probate process are: 

• Higher costs for the estate 
• The probate process is more time consuming compared to alternate methods of transferring the decedent's estate
• The psychological aspects of going through probate. The probate process is a constant reminder of the traumatic experience of death, which leaves the decedent's family members feeling frustrated. 
• Publicity due to the court documents that are filed in the proceeding are a part of the public record.  

The other purpose is for tax planning. Some of the factors for tax planning that must be taken into consideration are: 

• Whether the individual is considered a US Citizen or Domiciliary for tax purposes?
• Whether the value of the estate at the time of death exceed the estate and gift tax exemption?

Another purpose of an estate plan is for asset protection purposes. 

Our firm can help you establish an extensive estate plan that best fits your financial situation.