Canton Estate Planning Lawyer
One of the most important things you can do to ensure your loved ones are cared for after you pass is to create a detailed estate plan. By planning in advance for how your assets will be managed after you pass away, you have the chance to make decisions regarding who will receive certain prized possessions, how tax burdens on your heirs can be minimized, and whether to place conditions on the distribution of assets through the use of a trust. While any will is better than none at all, a Canton estate planning lawyer who has spent years in the field and understands the nuances of estate law will have solutions for your estate planning needs that can further the assets you leave behind in ways you couldn’t have imagined.
Ensure your Connecticut estate plan is in knowledgeable and trustworthy hands
Brian S. Karpe is a Connecticut estate planning lawyer with the knowledge and experience that will help you craft the best possible estate plan for you and your family’s needs. Not only has he been practicing law for over 30 years, but his commitment to delivering excellent legal assistance to his clients led Brian S. Karpe to seek specialized education in estate planning in the form of earning a Master of Laws degree in estate planning and elder law. You can rest assured that an estate plan created by the Canton Law Office of Brian S. Karpe, LLC will effectively carry out your wishes and further your legacy long after your passing.
Why do I need an estate plan?
Many Americans assume that the creation of an estate plan is something that only the elderly need to worry about. In fact, surveys show that over 40% of all adults in the US have not created a will or other form of estate plan. If you’re young, it’s reasonable to hope that your family won’t need to use your Connecticut estate plan for many years, but it is nevertheless important to be prepared for the unpredictable by creating an estate plan before it’s too late.
Why might you need to create an estate plan? Here are just a few reasons out of many:
- Dying intestate robs you of control over how your assets are distributed: Dying without a will, also known as dying “intestate,” means that your assets are distributed according to Connecticut state laws, not according to your wishes. Your assets will, by default, go to your spouse, children, parents, siblings, or more distant relatives, depending on your family and marital status. While this might work for people with very few assets, it still means that you’re not able to leave gifts to other people you care about, or to charities or educational institutions that meant something to you while you were alive. It also can result in a very complex probate proceeding for your heirs.
- You’re a parent: Once you bring a life into the world, you’re responsible for that child’s care and well-being for years to come. Should something happen to you before your child reaches an age where they can provide for themselves, you need to make sure that you’ve planned for their care through your estate plan. With the help of a Hartford area estate planning attorney, you can create a plan that could place funds in trust for your child to access for their education and daily needs, as well as designate a testamentary guardian you can trust to raise your child in your absence.
- Sudden accidents or disabling injuries can happen to anyone: One never knows the day or the hour that one will meet their maker. Sudden illness or a serious accident could take any one of us at any time. By creating an estate plan at a young age, you’ll save your family and loved ones from the stress of an intestate probate proceeding while they are already grieving your untimely loss.
- Plan for who will take over your business after you go: If you own a business, you’ve probably poured your lifeblood into making it what it is. In order for it to survive long after you do, you’ll need to designate a successor you can rely on in your estate plan.
- Make it easier for your heirs to receive the gifts you intend to give them: A simple will is one way to control how your assets are distributed, but it isn’t always the best way. A skilled Canton estate planning attorney can help you use other estate planning tools, such as the designation of beneficiaries on financial accounts and the creation of trusts, to help your heirs receive the assets you’ve left for them as quickly and painlessly as possible without waiting for those assets to pass through probate.
- Avoid potential tax burdens by planning ahead: A seasoned Connecticut estate planning attorney like Brian S. Karpe can help ensure that as much of your estate as possible goes to your heirs, not to the government, by strategically organizing your estate plan to avoid large tax burdens. The limits on which estates are subject to the estate tax can change at any time and could have a profound effect on the taxes your family is forced to pay on your assets.
Help With Estate Planning in Canton and Throughout Hartford County, Litchfield and Waterbury
Ensure that your family is provided for after you pass by creating a Connecticut estate plan that will carry out your wishes in the most efficient way possible. Contact the thorough, creative, and knowledgeable Connecticut estate planning attorney Brian S. Karpe for a consultation on your estate planning needs in Canton, throughout Hartford County, Litchfield and Waterbury.