Estate Planning is the process in which a person anticipates the effects caused by their death and puts in place measures to achieve, as much as possible, the results they desire.
Every person, regardless of wealth level, needs an estate plan.Without an estate plan, you will have no control over your estate after your death, including who your estate goes to, how much your heirs will receive, or how much is taken in taxes by the government.
The measures that are essential in the process of estate planning are the will, power of attorney for financial affairs, health care power of attorney, and the living will. For certain clients, a trust is appropriate. If one shares ownership of a business, then a buy-sell agreement, which determines the terms upon which the other owners buy out the decedent’s interest, is usually a good idea. For clients that face significant federal estate taxes, even more sophisticated planning involving instruments like family limited partnerships may be appropriate.
Lovett & Lovett Co., LPA founding partner George Lovett is a Board Certified Specialist in Estate Planning, Trust and Probate Law by the Ohio State Bar Association. The Tipp City and Dayton estate planning attorneys at Lovett & Lovett Co., LPA use their significant experience, knowledge, and expertise to ensure that each client’s estate will achieve the results they desire after death.
During the first consultation, we explore the client’s needs and quote a price range for preparing the necessary measures. Contact us to learn how we can ensure that your estate planning goals are achieved.