Wills and Trusts

At Bellock & Coogan, Ltd., we work closely with our clients to custom design a plan that addresses all of their specific needs.  There are no "boilerplate" or “cookie cutter” solutions, as each of our clients' needs are unique.  We work with high net worth individuals to create complex will and trust plans that may include private annuity trusts, charitable gift trusts, defective grantor trusts, and life insurance trusts.  We also assist individuals with simple wills, powers of attorney and living wills.  If you have a business to pass on, a family member with special needs, extensive real estate holdings, gift and estate tax concerns, or charitable intentions to fulfill, we will design a plan that achieves your goals, protects your assets, and provides for your loved ones.  In all cases, we discuss in great depth our clients' goals and visions for their estates, strategies to avoid excessive gift and estate taxes using various lifetime gifting techniques, and we draft documention to express our clients' wishes.  In addition, we will create a custom estate plan that is flexible, and that may evolve and may be changed as your life, your estate, and your family situation change.  Pre-nuptial agreements allow our clients to protect their assets for the benefit of themselves and their families in the unfortunate event of divorce or death of one or the other spouse.  As your family or business grows, you will have peace of mind knowing that you can come to us to adjust your plan accordingly so that your plan continues to meet your needs and goals.  We never view our relationships with our clients as "one-time" transactions.  We maintain long-term professional relationships with our clients so that they always feel comfortable coming to us--the attorneys familiar with their family, their business, and their financial situation--for sound advice and thorough planning.

Wills and Trusts - An Overview

A will is a written communication by which a person directs how his or her estate is to be distributed upon death. The estate consists of the property that one leaves behind after death. A trust is the legal right to the beneficial enjoyment of property to which another person holds the legal title. Wills and trusts are commonly used estate planning tools.

The advice and assistance of an experienced wills and trusts attorney are essential to making sure that the measures you choose comply with your state's law and truly carry out your wishes.

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Why Do I Need a Will?

Wills are the most basic element of estate planning. A will is a legal document that explains how you want your property and assets distributed after your death. It allows you to say who you want to carry out your wishes and provides you with the opportunity to nominate a guardian for your minor children.

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Trusts 101

A trust is a great estate planning tool for anyone who wants to avoid the costs associated with probate, decrease the amount of taxes paid at death and provide limitations on their young children's ability to access money left to them.

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A User's Guide to Probate

Probate is the court-supervised process of winding up your affairs after death. Many people believe the smart thing to do is to avoid the costs and hassles of probate. Contrary to this popular belief, the probate of most estates runs smoothly. The court's supervision ensures that any outstanding debts, taxes and claims against your estate are paid and that your remaining assets are divided among your heirs.

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Death and Taxes: Planning for Both

When you die, the assets and property interests you leave behind minus any debts make up your estate. Whether your assets go through probate or you have set up alternative means for transferring your property, any estate or other taxes owed at the time of your death must be paid.

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