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Estate Planning
Copeland Thompson Farris estate planning attorneys handle the full range of estate planning, from estates of less than $100,000 to estates in the tens of millions of dollars. We pride ourselves in doing the most important thing an estate planner can do – we listen to our clients. Only by listening to our clients can we understand their needs and goals so that we can tailor each client’s estate plan to achieve all of those needs and goals by using the wide array of techniques that are available to the experienced estate planning professional. Then we do the next most important thing – we explain the options available to each client in language they can understand, not in terms of code sections and acronyms that only attorneys understand but in everyday language that is more easily understood. Only then can a client make an informed decision in crafting the best estate plan for his or her circumstances; only then can a client end up with an estate plan and estate planning documents with which he or she is comfortable and that he or she fully understands.
We understand that estate planning is the art of drafting appropriate documents to meet needs and goals, but it is also about education. An important part of what we do is to be sure we spend the appropriate amount of time educating our clients. We understand that when a client arrives in our office, he or she may be at any level of understanding, from those who may not even understand what a Will is and are apprehensive as to what the estate planning process may involve to those who have read books and attended seminars and developed a more sophisticated understanding of the estate planning process. We assess the client’s level of understanding, and take them from that point to where they need to be, depending on the size of their estate and the complexity of their plan.
Copeland Thompson Farris estate planning attorneys have no pre-conceived estate plan developed prior to meeting with clients. After listening to the client, we employ the estate planning method that best suits the client’s needs in the most economical fashion, both in terms of the cost of developing and implementing the estate plan, and in terms of the cost of administering the client’s estate at the time of their death. We draw upon the full range of estate planning tools, from non-probate transfers to the most sophisticated methods that eliminate or minimize estate and generating-skipping taxes to the extent possible. Our estate planning attorneys have a combined experience of nearly one hundred years in crafting the best possible estate plans for our clients.
We are always mindful of what is at the heart of a client’s estate plan – making sure that the client’s estate ultimately is passed to those persons and institutions where the client wants to direct his or her legacy. That is why, with each estate plan we prepare, consideration is given to the potential loss of a portion of that estate to the transfer taxes that are imposed against many estates; we know that each client would prefer to have the estate pass to loved ones or charitable institutions rather than having a portion diverted to pay taxes by not taking advantage of tax-savings opportunities. We help our clients understand and consider the wide array of estate planning techniques available to minimize, if not entirely eliminate, the estate taxes that would otherwise be paid without the appropriate plan in place. In these times of uncertainty in planning for estate taxes, our attorneys keep abreast of not only the potential changes in the law, but also the most innovative techniques.
Finally, we make certain that during the estate planning process our clients also consider and plan for the possibility of their incapacity. Only while a client is competent can he or she set the stage for how their affairs will be handled and decisions made in the event the client loses the ability to do so, and avoid the chaos and difficulty their loved ones will experience if they do not. We recommend that our clients consider the benefits of powers of attorney for property and financial decisions and for medical decisions. We also encourage our clients to provide advance directives and guidance for the types of medical care they prefer in circumstances they might face in the future.
None of us can foretell our future, but we can certainly plan for the possibilities that we may face. The attorneys at Copeland Thompson Farris have all the skills necessary to assist you in achieving your estate planning needs and goals.
Copeland Thompson Farris Attorneys Practicing in Estate Planning Law:
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