Estate Planning and Elder Law

Creating an Effective Estate Plan for Clients

Estate planning is the arranging "for the orderly transfer of one's property, either during lifetime or at death," according to An Estate Planner's Guide to Family Business Entities, published by the American Bar Association. There are a number of techniques which can be utilized to accomplish this orderly transfer. Each technique comes with certain benefits, but also certain disadvantages. It is the proper selection of these techniques, therefore, that presents the greatest challenge to an individual seeking to ensure that his or her wishes are carried out before or after death, while reducing (or eliminating) transfer taxes and with a minimum of administrative costs.

The Law Offices of Kenneth R. Pyle works with clients to create an effective estate plan that will ensure the client's wishes are carried out. Having a legally valid Will is essential of course, but further components may be necessary to achieve one’s estate planning objectives in today’s complex world. Powers of attorney, advance medical directives and the use of various trusts and other legal entities are merely some of the techniques that can be utilized to bring about the peace of mind that only a personally tailored estate plan can achieve.

Estate administration involves the gathering and actual transferring of one’s assets after death and settling the affairs of the estate. Any debts of the estate must be paid. Various tax returns must be filed. The estate may be subject to probate, depending on what kind of estate plan was in place, if any. Decisions may have to be made about the sale of assets, such as the personal residence of the deceased, to settle the estate.

Although there may be an Executor appointed under the Will, the complexity of the estate may require the assistance of a qualified attorney. Addressing these administrative issues when making a will can minimize much of the difficulty associated with estate administration. It is really a kindness to one’s heirs to plan for as many of those issues as possible in advance, hence, the need for an effective estate plan.

Call Law Offices of Kenneth R. Pyle for the estate planning services you need.

Elder Law - Understand The Options

Elder law has been defined by The National Elder Law Foundation as follows:

“Elder law” is the practice of counseling and representing older persons and their representatives about the legal aspects of health and long-term care planning, public benefits, surrogate decision making, older persons’ legal capacity, the conservation, disposition and administration of older persons’ estates and the implementation of their decisions concerning such matters, giving due consideration to the applicable tax consequences of the action, or the need for more sophisticated tax expertise.

At first glance this may seem to be very similar to estate planning, but there are some important differences. For example, in elder law there is greater emphasis on: healthcare and long-term care planning, qualification for various government benefits and incapacity issues. Counseling older clients about their healthcare options, helping them to obtain needed services and financial assistance and navigate through the maze of programs available from government and community resources is the job of an elder-law attorney. Powers of attorney, advance medical directives (“living wills”) and guardianship are included among issues that will have to be considered as well.

Law Offices of Kenneth R. Pyle can assist elderly clients and their families to better understand what their legal and healthcare options are and what steps will be necessary to protect the elderly client’s interests. Helping the growing number of elderly citizens to live out their lives with dignity is our objective.