Estate Planning
Estate Planning Attorney Bucks County, PA
Estate planning should begin with a thorough discussion of your financial goals, family composition and dynamics, and your wishes regarding the use and disposition of your property and wealth. To create the most effective estate plan, we use Wills, Trusts, Family Limited Partnerships, and other advanced planning methods. Law Offices of Leo Mikityanskiy can help you through the estate planning process and develop an estate plan tailored to your individual goals and needs.
Wills, Trusts and Estates
Wills, trusts, and estates are essential tools for managing and distributing assets after death. A will is a legal document that outlines how a person’s property should be distributed and can appoint guardians for minor children.
Revocable and Irrevocable Trusts
Revocable and irrevocable trusts are key estate planning tools with distinct benefits. A revocable trust allows the grantor to modify or revoke it during their lifetime, providing flexibility and control over assets.
Trust Administration
Trust administration involves managing and distributing assets according to the trust’s terms. A trustee oversees the process, ensuring compliance with legal and fiduciary duties. Responsibilities include asset management, tax filings, and beneficiary distributions.
Asset Protection and Wealth Preservation
Asset protection and wealth preservation strategies safeguard assets from creditors, lawsuits, and excessive taxation. Tools like trusts, legal structures, and estate planning help individuals and businesses secure financial stability.
Estate Litigation
Estate litigation involves legal disputes over wills, trusts, and inheritance matters. Common issues include contested wills, fiduciary misconduct, and beneficiary disagreements. These cases often arise from ambiguous documents or undue influence claims.
Will Contests
A will contest is a legal challenge to the validity of a will, often based on claims of undue influence, lack of capacity, fraud, or improper execution. Disputes arise when beneficiaries or heirs believe the will does not reflect the true intentions of the deceased.
Estate Planning for Young Families with Minor Children
Estate planning for young families with minor children ensures their financial security and guardianship in case of unforeseen events. A will designates guardians, while trusts manage assets for children’s future needs.
Estate Planning for Blended Families
Estate planning for blended families ensures fair asset distribution while protecting spouses, children, and stepchildren. Wills, trusts, and beneficiary designations clarify intentions, preventing disputes.
Probate And Estate Administration
Probate and estate administration involve managing a deceased person’s assets, paying debts, and distributing inheritances according to a will or state law. The executor or administrator handles legal filings, asset valuation, and tax matters.
Special Needs Trusts
A special needs trust preserves financial support for individuals with disabilities without jeopardizing government benefits like Medicaid or SSI. Managed by a trustee, it provides funds for medical care, education, and personal needs.
Estate Planning – Bucks County, PA
Estate planning in Bucks County, PA involves creating a strategy to manage assets, ensure healthcare decisions, and designate guardianship.
Business Succession Planning
Business succession planning ensures a smooth transition of ownership and leadership when an owner retires, sells, or passes away. It involves identifying successors, structuring ownership transfer.
Estate Planning Packages
Estate planning packages offer comprehensive services, including wills, trusts, powers of attorney, and healthcare directives. These packages are tailored to individual needs, providing efficient, cost-effective solutions for asset protection, guardianship, and tax planning.