Law Offices of Robert J. Ross

Last updated: 2/17/2010

Estate planning” means planning for the use and disposition of your assets upon your disability or death. It also includes planning for lifetime distributions using gifts, trusts, beneficiary designations and joint ownership. A good estate plan has three primary goals:

1. To document plans to care for you, your family, loved ones and charities;
2. To minimize exposure of your assets to taxes and creditors;
3. To plan for the efficient distribution of your assets by a fiduciary who you choose in the manner you select.

Many people work their entire lifetime to accumulate assets: homes, cars, savings, retirement accounts, stocks and other property. The amount of time and money required to create an estate plan will make it more likely that your assets are passed on to the people you want, in the way that you want and with minimum tax costs. The more you understand the estate planning and probate processes, the better the chance that your estate plan will accomplish your desires.

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