Wills, Trusts & Estates
In the absence of the appropriate estate planning documents, upon your death your property passes according to state law rather than your wishes. We provide comprehensive estate planning services to ensure that, regardless of life’s changes, our clients have a documented plan in place regarding their health, finances and assets.
We use a straightforward approach for implementing estate plans. Our focus is an individual’s wishes regarding family matters, beneficiaries and tax considerations pertaining to the eventual transfer of assets.
It is important to update your will after any major life event, such as the birth of a child, a divorce or the death of a fiduciary.
- Simple or complex will — To name guardians for minor children and to decide how and to whom your property and assets should be distributed upon your death
- Durable power of attorney — To appoint a person to make financial decisions while you are unavailable should the need arise
- Name a health care proxy — To document your health care wishes and appoint an individual to make major health care decisions should you become incapacitated
Probate & Estate Administration
If a will exists, the executor is appointed. If there is no will, an administrator needs to be appointed. At William Kay, Attorney at Law, we provide guidance through this formal procedure. We lead you through each step of the probate and estate administration process, including all issues of estate income tax.
We provide our clients skilled, experienced guidance addressing a range of critical probate and estate administration matters, including:
- Probate of the will, qualification of executor or administrator
- Identifying, gathering, managing of assets, debts and expenses
- Obtaining estate valuation of assets
- Preparation of estate and inheritance tax returns
- Negotiating any estate tax controversy
- Preparation of executor’s/administrator’s accounting
- Transferring, retitling and distributing assets to beneficiaries and heirs
- Minimizing tax payments by addressing income and estate tax issues