Maintaining a broad perspective is the hallmark of the tax and estate-planning group at Hamburg, Rubin, Mullin, Maxwell & Lupin. It is a perspective that has preserved the assets of individuals, allowed businesses to move forward with development plans, and enabled our clients to enjoy higher standards of living and a better quality of life.
Some of the basic estate planning documents we create for clients include:
- Advance medical directive, which is also called a living will. This document allows you to make your own decision whether you want artificial life support if you are in an unconscious state with no hope of recovery. This document also names a Health Care Proxy, which is a person who can carry out your decisions.
- A durable power of attorney, which allows you to name someone as your agent who can pay bills and make other financial decisions on your behalf. The power of attorney is “durable,” meaning that it remains in effect even if you are incapacitated.
- A will or trust, which gives instructions as to how your estate will be distributed when you die.
The transfer of your estate at death is only one of the functions of a will or trust. They can also be used to protect your estate from a large estate tax liability and to plan for the care of your children should you unexpectedly pass away before they reach adulthood. As the tax laws are constantly changing and becoming more complex, it is essential that you have proper guidance in planning for your future and your family’s future.