Estate Planning

Get Expert Advice on Your Estate Planning

Our Specialty

The Power of Preparedness

No one wants to think about the possibility of passing away or what will happen to your family when you are gone. It is important to have a plan in place that will give you and your family peace of mind. A good estate plan is customized to your family and concerns. Sara E Faulkner has the experience and knowledge to provide the guidance you need in planning for your present and future.

What is Estate Planning?


When you hear the phrase “estate planning,” the first thought that comes to mind may be taxes. But estate planning is about more than just reducing taxes. It’s about exerting control over your future. A good estate plan offers protection and peace of mind to yourself and your family. Not only are you ensuring your assets are distributed according to your wishes upon your death, a good estate plan will plan for your potential incapacity or disability.

Wills

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A will is a legal document that outlines how your assets will be distributed after your death and requires your estate to go through probate, a court-supervised process. We will work with you to establish a properly drafted will and help you navigate the complexities of probate, providing peace of mind and protecting your beneficiaries' interests.

Trusts

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A living trust allows your assets to bypass probate, offering a quicker and more private way to manage your estate. It also provides protection if you become incapacitated. With our expertise, let's work together to set up a living trust that is properly structured and funded, protecting your wishes and simplifying the process for your loved ones.

Power of attorney

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A power of attorney grants someone you trust the authority to make financial and legal decisions on your behalf if you become unable to do so. We can ensure that your power of attorney document is comprehensive and legally binding, guarding your interests and ensuring your chosen representative can act effectively.

Health care directives

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Health care directives, including living wills and medical powers of attorney, outline your wishes for medical treatment if you cannot communicate them yourself. We will make certain these documents are clear and legally sound, providing peace of mind that your health care preferences will be respected.

Assisted living

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Planning for assisted living involves making decisions about your future living arrangements and how they will be financed. We specialize in estate planning, helping you navigate the legal and financial aspects. Manage your assets wisely, and transition smoothly to well-planned assisted living.

Long term care

Long-term care planning addresses the potential need for extended medical and personal care due to aging or illness. Work with us to understand your options, from insurance to asset protection, to make sure your long-term care plan is comprehensive and aligns with your estate planning goals.

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Hospice option

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Choosing hospice care focuses on comfort and quality of life for those with terminal illnesses. Let's get your hospice care preferences documented and legally recognized, integrating them seamlessly into your broader estate and health care plans for a dignified and well-managed end-of-life experience.

All Aspects of Estate Planning are Covered.

Fundamental Questions

  • Who should you entrust with decision making authority?

    As part of your estate plan you will need to designate who would make decisions on your behalf in a variety of situations, from the administration of you estate to handling your affairs in the case of you incapacity or disability.  This can include power of attorney, medical decision making authority, being trustee or executor or your estate.

  • Who should inherit your assets?

    If you are married, before you can decide who should inherit your assets, you must consider marital rights.  If you die without a will or living trust, state law will dictate how much passes to your spouse.  Even with a will or living trust, if you provide less for your spouse than state law deems appropriate, the law will allow the survivor to elect to receive the greater amount.  Planning for this can become a challenge for people who own property in more than one state.


    Once you’ve considered your spouse’s rights, ask yourself these questions:

    • Should your children share equally in your estate?
    • Do you wish to include grandchildren or others as beneficiaries?
    • Would you like to leave any assets to charity?
    • Which assets should they inherit?

  • What are some considerations when transferring certain types of assets?

    • If you own a business, should the stock pass only to your children who are active in the business?  Should you compensate the others with assets of comparable value?
    • If you own rental properties, should all beneficiaries inherit them?  Do they all have the ability to manage property?  What are the cash needs of each beneficiary?
    • When and how should they inherit the assets?

  • When and how should my beneficiaries inherit my assets?

    To determine this, you need to focus on three factors:

    • The potential age and maturity of the beneficiaries
    • The financial needs of you and your spouse during your lifetimes
    • The tax implications

Over a Decade of Experience in Estate Planning

Contact us today to schedule your consultation.