Estate Planning, Trust & Probate
The estate planning team at Kelley Scritsmier & Byrne will assist you in the preparation of an estate plan that is personalized to your specific situation. Estate planning, at its core, is the process of making decisions about and arranging for the transfer of your property to others during lifetime and at death. Planning for your own incapacity – both for the management of your property and for making decisions about your healthcare are a common part of any estate plan. Estate planning may also include planning for the guardianship and care of minor or disabled children. We understand that the issues faced in developing an estate plan can make it a complex and emotional process. Our attorneys are sensitive to the family dynamics that your unique situation presents and will guide you through the decisions you face. The preparation of estate planning documents should provide for the lifetime protection and management of assets as well as the transition of those assets at death. Corporations, LLCs and other types of entities are often created for the management of property in conjunction with business and tax planning such as for government farm program or income tax purposes. Common goals which clients wish to achieve through their estate plan include providing for the surviving spouse and other family members, tax minimization, probate avoidance, preservation of assets and facilitating the transition of a business operation to the next generation.
Business owners may wish to engage in succession planning to provide a more stable transition of management in ownership to the next generation, a valued employee or an outside party. Our estate planning team works with the business and taxation teams to provide you the assistance and advice needed to bring about the smooth transition of managerial functions and business assets over time. We have substantial experience with the development and implementation of succession plans for farm, ranch and other ag-related businesses, providing transition strategies for multiple-generation family ranch and farming businesses. Tax minimization – both estate and income taxes – is a common part of succession planning due to its long-term and advance planning nature.
Whether you consider your estate planning needs to be large or small and no matter what type of asset may be involved, our estate planning team can guide you through the estate planning process to develop a plan that achieves your goals.
What We Do
Estate Planning:
tools to implement an estate plan include Wills, revocable and irrevocable trusts. Generation-skipping trusts and irrevocable life insurance trusts are also used.
Estate Tax:
preparation of estate tax estimates and estate tax federal returns
Health Care Directives & Financial and Health Care Durable Powers of Attorney
Pre- and Post-Marital Agreements
Preparation of Wills and Trusts:
suited to your particular circumstances.
Probate:
services provided in the probate area include county court probate administration, estate settlement through revocable trusts, processing life insurance claims and the preparation and filing of inheritance tax and federal estate tax returns.
Probate Avoidance Strategies:
planning and advising on probate avoidance strategies utilizing revocable and irrevocable trusts, joint ownership, lifetime gifts, and transfer on death (TOD), payable on death (POD), and beneficiary designations, as may be appropriate for individual circumstances.
Settling of Estate:
advice and guidance in the estate and trust administration process of settling an estate.
Tax Minimization & Transition Strategies:
minimizing estate tax exposure while implementing the transition strategy for family ranch and farming businesses.
Who To Contact
