The experienced attorneys at Farver, Skidmore & Hux understand that planning for, protecting and transferring family assets is a vital concern for most families. Estate planning ensures that your wishes are honored after you pass away or when the unexpected happens. Planning for the future enables you to control how your assets are distributed and ensures that someone you love and trust has the authority to make decisions on your behalf in the event that you cannot make them for yourself. 

Suppose you die without an estate plan in place. In that case, you will be deemed to have died “intestate.” What that means is that you did not have a Last Will & Testament at the time of your death. Resultantly, your assets will be distributed in accordance with the State’s Intestacy Statute, which will involve probate, and may result in your assets being distributed to someone you would not have otherwise had received them had your wishes been properly memorialized. 

Amongst other things, a properly drafted estate plan will permit you to:

• Provide for yourself and your loved ones through a period of disability or incapacity.
• Leave what you want, to whom you wish to, in the way that you want; and
• Minimize unnecessary fees and court costs. 

With a well-drafted estate plan, you can take comfort in knowing your estate will pass to who you want, when you want, and in the way you intend. 

Some tailored estate plans may include, but are not limited to:

• Drafting last wills and testaments.
• Preparing living wills, health care powers of attorney, and other advance directives; or
• Planning for asset management and preservation through the use of powers of attorney. 

The process of estate planning involves both emotional and financial considerations. Drafting an estate plan is an excellent investment in one’s future and provides peace of mind to the person who creates the plan and to family members who have insight into their loved one’s wishes. 

We assist clients in preparing wills, powers of attorney, health care powers of attorney and living wills.  We counsel married couples and single individuals and structure each client’s plan to their particular needs.  When necessary, we consult with other tax professionals and financial planners to ensure the client’s goals are met.  

It is important to note that an estate plan is only effective if it is properly administered. The attorneys at Farver, Skidmore & Hux, LLP provide legal advice and guidance for those administering an estate, from the opening of the estate, through the payment of debts, sale of assets and distributions to heirs, up to the final accounting.  We provide peace of mind to our clients dealing with these often overwhelming and difficult tasks. 

Our attorneys guide executors, administrators, guardians, agents acting under powers of attorney, trustees, and beneficiaries throughout the entire estate administration and settlement process by, amongst other things:

• Initiating probate proceedings with the clerk of court.
• Advising clients with regards to estate accounting and the valuing of estate assets.
• Working with CPAs and other tax professionals regarding tax treatment.
• Ensuring payment of claims, expenses, and taxes; and
• Proper disposition and distribution of estate assets.