Estate planning is the creation of a definite plan to manage your assets while you’re alive and to distribute your assets after your death.
Estate planning involves topics that most people would rather avoid: incapacity, death, and taxes. Many people do not give proper thought to the possibility of becoming incapacitated, or the certainty of their own death, yet incapacity will happen to most of us, and death will happen to all of us.
Estate planning forces us to face the financial and emotional consequences of incapacity and death and take action to minimize the effects on our families. But estate planning is not all that complicated. When people are asked to summarize their estate planning wishes, most simply say that:
1) They want their assets to be managed efficiently if they become incapacitated;
2) They want their estate to be distributed at their death to the people they choose according to their wishes;
3) They want to minimize executor and legal fees and court costs, and avoid unnecessary delays in passing on their property; and
4) They want to avoid, or at least minimize, the payment of death taxes (the Federal Estate Tax).
Thompson Painter Law P.C. helps you accomplish your estate planning goals. Our services include:
- Estate Planning. You receive consultation and planning to ensure that your estate is distributed according to your wishes.
- Living Trusts. Our firm specializes in Revocable Living Trusts. Read about what a Living Trust can do for you.
- Special needs and divorce protection. You learn how to protect family members and you get informed advice on these important estate planning issues.
- Long-term health care. You can make sure that you have properly outlined necessary health care instructions.
- Creditor protection. You find out how you can protect your estate and your heirs from lawsuits.
- Trust administration. Your family can get help in distributing your estate after the first and second spouses pass away according to your Trust dictates.
- Structured buy-out plans. You can plan for your children to sell land and assets.
- Retirement planning. You can ensure that your tax-deferred accounts are properly structured to give your family the greatest tax advantages possible.
- Probate assistance. You can get the assistance you need on the death of someone with or without a Will.
- Asset protection. You can receive guidance on protecting your legacy.
- Updating documents. You can ensure that your affairs are in order with regular estate reviews, and amend or restate your existing estate plan to ensure its effectiveness.
- Tax planning. You can preserve your wealth and reduce taxes with proper planning.
- Advanced planning. You can get assistance with matters such as Family Limited Partnerships, Irrevocable Life Insurance Trusts, and Charitable Remainder Trusts, among others.
Do you need Estate Planning?
Thompson Painter Law P.C. is located in Billings, MT (Yellowstone County). We assist clients from all over eastern Montana, as well as Livingston and Bozeman, with living trusts and other estate planning needs.
If you are unsure if you need estate planning, just call our office: 406-294-4230 or 1-800-814-1248, M – Th 8-5 and Friday 8-3 (closed over the noon hour). Ask for our free initial telephone interview. One of our staff members will ask you some no-obligation questions to determine if our estate planning services can help you and your family.
Or send us an email with your telephone number and estate planning concern. Our staff will contact you during our business hours.