Creation of an effective estate plan requires a full understanding the unique assets, goals and values of each individual client. Given the wide variety of options available to individuals and families involved in the estate planning process, it is also essential that counsel work closely with each client to craft a comprehensive plan that ensures the protection of beneficiaries and the fulfillment of the carefully determined wishes. Proper titling of assets is likewise crucial to an effective estate plan, as trusts and wills have no effect on improperly titled assets. Finally, client guidance should always include assistance with beneficiary designations and the myriad ways in which assets can — and should — be held.
Estate planning encompasses a range of services, from drafting basic wills and trusts to designing complex trusts that accomplish family goals in a tax-efficient manner. At Troutman Sanders, our lawyers appreciate the fact that our role is not only to create estate plans for clients, but to help them understand all of the options available to them and the long-term implications of each of those options. Once a plan has been created, we can help clients follow through on those plans throughout life by monitoring the accomplishment of action items.
Our estate planning services include the following: