Law Offices of Ronald E. Champoux

Estate Planning

What is Estate Planning?  Estate planning is determining who will receive your assets (i.e., your estate) upon your death, and when.

That is the simple answer.  The more accurate answer involves a series of more complicated questions.  What exactly are "your assets?"  Do they include the assets of a spouse?  How do you determine how your assets, and your spouse's assets, will pass if each of you have children from a prior marriage?  Today's blended families involve many more considerations than was true in simpler times.  Structuring your estate now so as to avoid disputes later is the best way to save your heirs money, grief and excessive legal fees.

Another aspect is disability planning.  Today you are just as likely to need a plan for managing your financial affairs in the event of a a disability, stroke or other debilitating condition, as you are to need a plan in the event of your death.  These are not difficult issues to resolve in advance.  However, not making provisions ahead of time only increases the likelihood of grief and conflicts for your family members down the road.

Another element is planning for nursing home care.  Some clients may qualify for public benefits to assist them through this difficult time.  However, the laws governing public assistance for nursing home benefits are very restrictive.  Learning about how best to structure your estate so as to qualify for these benefits can make a very large difference to your heirs in future years.

Finally, there are taxes.  Again, proper planning ahead of time can maximize the amount your heirs receive, and minimize the amount that passes to the government.  These are not difficult issues to in advance.  However, not planning properly can mean an immense difference in the amounts that your heirs ultimately receive.

Please click on the buttons on the left side of the screen for more information on these topics.

Send mail to rchampoux@a-1law.com with questions or comments about this web site.
Copyright © 2008 Ronald E. Champoux, Esq.

The purpose of this web site is to provide general information on estate planning, family law and probate.  The laws on these topics are subject to change.   Nothing in this web site should be construed as legal advice.  If you have a specific legal problem, you should consult a lawyer.