Estate Planning is an important way to make things easier for your family after you pass away. It is a form of advance planning where you determine who ingerits your assets. It also allows you to determine when and how your assets are distributed to your beneficiaries. If you have minor children or you are empty nesters, Marlon Suskin will meet with you to discuss different estate planning options in order to set up an estate plan that will meet your prospective needs. Below are explanations of different estate planning tools that Mr. Suskin can discuss with you.
- – declares a person’s wishes as to the welfare of his or her children and the distribution of his or her assets after one dies
- – a trust is a legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the current state and the valid trust instrument. A trustee manages the assets in the trust pursuant to the trust agreement.
- – a trust created within a will that does not go into effect until the death of the settler. The trust will hold the settlers assets for the benefit of the beneficiary and will be distributed to specific beneficiaries when they meet certain requirements (i.e. certain age)
- – A trust created and in effect during the settlor’s lifetime for the benefit of that person or another person. This trust is used to protect assets from going through probate at the time of the settlor’s death.
- – This is an estate planning tool whereby a deceased spouse’s estate passes to a trust rather than to the surviving spouse. The purpose is to reduce the likelihood that the surviving spouse’s subsequent estate will exceed the estate tax threshold (i.e. type of tax shelter)
- – a document that appoints an agent to make healthcare decisions for the person named on the document.
- – a document that appoints an agent to take care of a person’s financial affairs if one is unable to make those decisions due to inavailability or incapacity.
- – a document that governs the withholding or withdrawal of life-sustaining treatment from an individual in the event of an incurable or irreversible condition that will cause death within a relatively short time and when such person is no longer able to make decisions regarding his or her medical treatment.
Probate is a court supervised legal process where a deceased person's estate is administered. Mr. Suskin is very experienced handling all types of probate related matters. He will make the experience easier for the appointed executor or administrator of the estate during a difficult time. Probate services include the following: