ESTATE LAW PRACTICE
SAHN WARD COSCHIGNANO & BAKER offers a full array of estate planning services to suit the individual needs of each of our clients, from preparing simple Wills and administration of estates and trusts to sophisticated asset protection and wealth transfer planning. Our practice includes utilizing the latest developments in the law to provide our clients with planning vehicles relevant to their particular needs to achieve their objectives.
Estate planning serves many purposes. On one level, the objective of an estate plan is reducing the tax burden on the estate. On another level, an estate plan allows an individual to determine how their assets will be distributed following their death. While estate planning is often a difficult topic to discuss, most people agree that they would rather make their own decisions about distributing assets and care for minors. The alternative, which occurs with greater frequency than one would think, is for the state to make the decisions concerning asset distribution and care of minors.
Estate Planning is also used to address special situations:
- Providing for and protecting children or spouses in the case of multiple marriages
- Providing for children with special needs
- Protecting against the claims by a child’s creditors, or claims arising from a child’s divorce
- Providing for a same sex partner
- Charitable giving to existing charitable organizations
- Creating a charitable organization
- Creating various entities as a means to transfer closely-held business interests
It is important to have a Will or estate plan reviewed and, if appropriate, revised every few years, especially for younger families. An old estate plan may not accommodate recent changes to your life, family, or the tax law.
The Firm represents business owners with special concerns regarding succession planning matters and works closely with clients and their advisors to ensure that estate planning is coordinated with all related business ownership and ventures. The Firm can also assist executors or trustees in fulfilling their legal obligations when they do not have the knowledge or experience to do so. Services include probating Wills, assisting with the marshalling and valuing of assets, preparing estate and gift tax returns, distribution or allocation of assets, representation in state or federal estate tax proceedings, trust and estate litigation, etc.
