- Do I have to come to your law firm to change or update the trust?
No, but you must meet with a member of our firm prior to making changes to your plan. It is our firm policy to ensure that you and only you want changes to your plan. We won’t make changes over the phone. In some cases, we will arrange to visit clients’ homes or offices, to ensure proper changes and updates are made. We do not warrant that documents will be effective if modified or changed without our law firm’s involvement.
- What is estate planning?
Our firm’s philosophy is to guide our clients to leave a legacy to their loved ones in the right means, at the right time, and at the least cost possible. Other planners may be more narrowly focused—with goals to solely save taxes, offer the cheapest trusts, or only address a small portion of the family’s planning. We find that choice more often leaves loose ends that result in either administrative costs or more often emotional and/or financial pain for those left behind. Haymond Law offers our clients comprehensive solutions that provide their family with peace of mind that their legacy will be exactly as they design.
- Can any attorney create a Living Trust?
Any attorney can create a Living Trust. We have even seen non-attorneys help clients prepare Living Trusts. Not all living trusts are created equal. For the benefit of our clients, our documents are constantly changing, evolving, and updated to comply with tax and legal changes. Haymond Law invests in the education of its’ attorneys and staff to ensure the Living Trusts we provide offer our clients the best of protection in an ever-changing world.
- Do property taxes change if I create a trust?
Likely not. This can vary between states and counties. However, almost every family trust should have no impact on your property tax assessment or individual income tax reporting.
- What is a power of attorney?
This is a document that names an agent to manage a person's financial affairs. It has no effect or control of the person’s property in the event of death. It may take effect immediately or when the person is unable to manage their own finances because of the person’s disability or incapacity. It is also called a "Durable Power of Attorney" because it remains effective if the person granting the power is disabled or incapacitated.
- How can I leave my estate to my spouse or children tax-free?
Tax planning is an important part of our firm practice. We often review clients’ individual tax situation so that we can properly introduce options that fit their planning goals. We do not advise or assist our clients in tax evasion. Deacon practices before the IRS and has helped a number of clients in dealing directly when tax matters arise. While ensuring that proper tax reporting is done for clients (often with the assistance of tax professionals,) Haymond Law focuses on more important topics that pose a far greater threat to clients’ legacy.
Examples of these topics are:
- How do I ensure that my loved ones “don’t get too much too soon?”
- Can I build protection from creditors with my legacy?
- Will I be able to prevent my legacy from being dissipated from a subsequent re-marriage or divorce of my beneficiaries?
- Where can I ensure that assets will be available to provide for the long-term care of a surviving spouse or child?