When it comes to buying or selling real estate, this maxim is particularly true. The more you know about the buying and selling process, the more you can do to avoid problems and ensure that the deal runs smoothly. We take pride knowing that the majority of our clients come from referrals from current and former clients and we will always make room for referrals. We obtain the best results we can for our clients through a mixture of professional integrity, legal expertise and solid common sense. At Estate Planning Law Center, LLC, our job is to educate our clients about the buying, selling and/or refinancing process. We hope this website provides some guidance and that you'll consider giving us the opportunity to use our expertise to your advantage in your next real estate transaction. PERSONAL ESTATE PLANNING
Most of us spend our entire lives accumulating "stuff" - an estate plan is simply a plan to give your "stuff" away at death to the people you choose. The American Bar Association studies consistently say that only 30% of Americans have an estate plan in place -that means that 70% of us leave it up to a judge to decide who gets what, and who raises our children if we have minors. We strongly believe that any choice you make yourself, is better than a choice that someone else makes for you. Don't be one of the 70% that have abdicated their responsibility to their family and loved ones. You have spent a lifetime accumulating your estate - whether it ends up being $10,000; $100,000; or $1,000,000, or more, you owe it to yourself to leave it to the people you love, in the amounts you choose, and in the way you choose. It's very difficult for your loved ones if they have to deal with these issues while grieving. The more you plan during your lifetime, the smoother the process will be for the ones you leave behind after you're gone. It's a difficult subject, no doubt, and we'd all rather avoid it if we could but, unfortunately, there is no fountain of youth after all and we're all going to face our demise sooner or later. Our clients plan for it in the best way they can, for the sake of their families. WHAT IS "ESTATE PLANNING?"
Estate planning is a very broad term that encompasses all types of planning. It's also a term that has changed dramatically over the past 20 years. At one time, a typical estate plan for a married couple meant having a simple and cheap "I Love you" Will, leaving everything to the other spouse. That will would go through probate and, on the death of the 2nd spouse, the process would be repeated, but this time the assets would go the children equally. These types of wills are still drawn up, but they are appropriate for far fewer people as our world has become more complex. The other type of estate plan used to be the ones that the really wealthy people drafted, with lots of expensive lawyers, in big law firms, where the primary goal was to avoid estate taxes. Again, there are some people that still plan solely or mostly to avoid estate taxes, but they are also becoming far fewer. These days, the world has changed. People with smaller estates recognize the value of leaving money to their family in trust, and the laws have changed so that can be done in a very affordable fashion. Wealthier families (or at least many of them) have realized there is more to life than taxes, and have begun planning for the families' future well being. The laws have made planning for future generations much simpler, and our litigious world has increased awareness of the importance of asset protection so that the money left to the beneficiary stays with the beneficiary. Increasing wealth for many, interest in privacy (which is lost through the probate process), non-traditional families and changing lifestyles have all had an impact on the estate plans drafted by attorneys. There are so many more options now, and so many more ways to accomplish your goals, that it is a much more interesting and satisfying process for both the attorneys and the families. There is an ongoing debate throughout the country, and even amongst attorneys, which began in the 1980s as to whether a Will or a Trust was better for the average Joe. In many parts of the country, that debate has been settled in favor of living trusts. The majority of estate planning attorneys and the popular media agree that a Trust offers more flexibility, and more options, more protection, and wider acceptance, for both the client and the family, than a Will can ever provide and, therefore, is the better choice more often than not. Estate planning may seem overwhelming, or even daunting, but we will make every effort to guide you through the process and educate you as we go. We will talk about your family, explore your financial status, your retirement plans, your charitable desires, your health, any disability planning you have in place, etc., but it is not because we are prying - the best relationship between attorneys and clients are when the clients open up to the attorneys, tell the attorneys all the facts, so that the attorney can sift out what is relevant, and what must be addressed so that, in the end, the client's goals are completely met. Attorney Beckett is a co-author of several books, including Love, Money and Control, and Giving. Both books are available through Amazon.com or at a discounted price of $15.00 for friends of the Firm at our main office at 543 Prospect Avenue, Hartford (860) 236-1111.
