PRACTICE AREAS

  • Trust and estate planning is an essential aspect of financial responsibility. It involves carefully organizing and managing an individual's assets and affairs in preparation for their eventual passing or incapacity. This process includes creating legal documents such as wills, trusts, and powers of attorney, which serve to specify how assets will be distributed, designate who will make decisions on behalf of the individual if they are unable to do so, and outline strategies to minimize estate taxes and unnecessary legal fees. By taking the time to plan effectively, individuals can preserve their wealth for beneficiaries, reduce potential conflicts, and make a challenging time more manageable for those they leave behind.

  • Trust administration involves the management and oversight of a trust's assets according to the terms set forth by the trust creator (or grantor). This process typically includes duties such as collecting and managing the trust's income, investment of its assets, distributing funds to beneficiaries, and ensuring all tax requirements are met. The trustee is responsible for acting in the best interests of the beneficiaries and adhering to the fiduciary duties outlined in the trust document, as well as those set by law. Effective trust administration is crucial to safeguarding the trust assets and fulfilling the grantor's intentions.

  • Probate administration is the legal process for managing and distributing a deceased person's estate to their heirs and beneficiaries. This involves confirming the will, if there is one, and appointing an executor to oversee the estate. The executor settles debts, files tax returns, and distributes assets according to the will or state law if no will exists. Proper probate administration helps prevent disputes, minimizes delays, and ensures that the decedent’s intentions are respected throughout the probate process.

  • Trust litigation involves legal disputes between trustees and beneficiaries, with issues regarding the trust’s validity, mismanagement of its assets, or disagreements over the trust’s terms. Since trusts bypass probate, they do not require court involvement for asset distribution. However, conflicts can still arise, and when they do, they may be resolved through negotiation, mediation, or, if necessary, court intervention.

  • Estate litigation deals with disputes that arise after an individual has passed and their estate needs to go through probate - a process that involves appointing an executor to manage the estate, settling debts, and distributing assets according to the terms of the will or state law if no will exists. Common issues in estate litigation include challenges to the validity of the will, allegations of fraud or undue influence, and disagreements among heirs over how assets should be distributed.

estate planning services

At Katie Krispin Law, I offer comprehensive estate planning packages as well as individual services for clients who prefer a more tailored approach. There’s no one-size-fits-all solution. Each plan is designed to fit your unique needs and goals.

Comprehensive Trust Packages

This package includes everything you need for a robust estate plan:

  • A revocable living trust is a powerful estate planning tool that allows you to manage your assets during your lifetime and control how they’re distributed after your death. As the grantor, you retain full control and can alter or revoke the trust at any time, offering flexibility as your life or financial situation changes.

    One of the major benefits of a revocable living trust is that it allows your assets to bypass probate, a court-supervised process that can be time-consuming, costly, and public. By transferring ownership of assets into the trust, you ensure they are distributed privately and efficiently to your beneficiaries.

    But the advantages don’t stop there. This type of trust can also provide protection during your lifetime. In the event of your incapacity, your chosen successor trustee can step in and manage the trust assets without court intervention, maintaining continuity and easing the burden on your loved ones.

  • Even with a trust, a will is still an important part of your estate plan. A will provides clear instructions for how assets that weren’t included in your trust (intentionally or by oversight) should be handled. It also allows you to appoint guardians for minor children and name an executor to manage your estate.

    When paired with a trust, the will typically functions as a “pour-over will.” This means any assets left outside of the trust at your death are “poured” into the trust, essentially naming the trust as the beneficiary of those assets. While these assets may still go through probate, the process is streamlined because they ultimately get distributed according to the trust’s terms, rather than through a more complicated probate process involving individually named beneficiaries.

    Without a will, state law will dictate how certain non-trust assets will be distributed, which may not align with your preferences.

  • A financial power of attorney allows you to appoint someone you trust to make financial decisions on your behalf if you become unable to manage your affairs due to illness or other personal circumstances. This document ensures that your financial matters, such as paying bills and managing investments, continue to be handled according to your wishes while you are still alive. This document becomes void upon your death, at which point your will or trust takes over.

  • A health care power of attorney allows you to appoint someone you trust to make medical decisions on your behalf if you’re unable to do so yourself due to illness, injury, or incapacity. This person becomes your voice in critical moments, helping to ensure your wishes are respected and relieving your loved ones from having to make difficult choices during emotional and stressful times.

    A living will, also known as an advance directive, complements your health care power of attorney by outlining your specific preferences for medical treatment. It typically addresses things like life-sustaining interventions (such as ventilators or feeding tubes), pain management, organ donation, and end-of-life care.

    Together, these documents work hand in hand: your living will communicates your treatment preferences, while your health care power of attorney ensures those preferences are carried out by someone who understands and respects your values.

  • Properly managing real estate is a crucial part of estate planning. This may include transferring property into a trust, creating transfer on death deeds, or structuring joint ownership. Deeds help ensure that your real property is passed to the intended beneficiaries smoothly and without unnecessary delays or costs.

  • Estate planning can feel overwhelming, but it doesn’t have to be. During our initial consultation, I’ll walk you through the key elements of estate planning (such as wills, trusts, tax considerations, and more) and guide you through the process of making informed decisions about asset distribution, selecting individuals or entities to manage your affairs, and implementing strategies to help minimize estate taxes. With my step-by-step guidance, I aim to provide you with clear, practical advice that empowers you to make informed decisions at every step of the estate planning process.

Specialty Trusts & Individual Services

+ Special Needs Trust

+ Asset Protection Trust

+ Credit Shelter Trust

+ QTIP Trust (Qualified Terminable Insurance Property Trust)

+ Irrevocable Life Insurance Trust (ILIT)

+ Business Formation & Succession Planning

Don't wait TO start your estate plan.