Estate Planning for Individuals

Reinhart's Trusts and Estates Practice helps individuals achieve their short- and long-term testamentary objectives while minimizing estate and gift taxes. Our attorneys create flexible estate plans to allow clients to respond to future family changes, economic conditions and changes in tax laws.

Revocable Living Trusts

The revocable living trust acts as the centerpiece of a client's estate plan, as it either holds the client's assets during life or receives them after death. The trust allows the client to direct how his or her property should be managed and distributed. A revocable living trust can be changed or revoked at any time during the client's life. A revocable living trust is an important tool, since it may provide for property management during a disability or illness. It also avoids the costly and time-consuming process of a legal guardianship proceeding in case the client becomes incompetent. If a trust is fully funded during life, probate may be avoided.

Wills

A will decides who receives the client's estate upon death. It can work as the main dispositive document or as a "pour-over" to a revocable living trust. In the will, the client appoints a personal representative, who will have control over the assets and the responsibility to pay the client's bills and distribute the client's estate. A will is also the only estate planning document in which a guardian for minor children may be appointed.

Powers of Attorney for Property

A power of attorney is a written contract between the client and his or her agent, authorizing the agent to act on behalf of the client. There are two general kinds of powers of attorney for property:  a "Durable Power of Attorney," which gives the agent immediate power to act, and a "Springing Power of Attorney," which allows the agent to act when the client is no longer capable of handling his or her own affairs. The agent's powers may be as broad or as narrow as the client desires.

Health Care Powers of Attorney

A Health Care Power of Attorney is a document that authorizes a person the client names as his or her "health care agent" to make health care decisions on behalf of the client if he or she is unable to make decisions himself or herself. A "Living Will Declaration" may be included in the document, which will inform the client's physicians of the client's wishes as to life-sustaining procedures.

HIPAA Authorization

A HIPAA authorization permits custodians of health care records to disclose those records under specified circumstances to the client's family members, attorney, etc.