Rice and Rice

Estate Planning

Estate Planning

The old adage that “You need a will” represented one of the most basic parts of an estate plan. The fact is, you may or may not need a will. However, you need some legal vehicle(s) to organize what happens to the things you own, owe, and the people you need/want to take care of, including yourself, in the event of incapacity and ultimately your death. That collection of legal vehicles is what compromises your estate plan.
Purpose

The purpose of an estate plan varies from person-to-person. The goal of an estate plan is to proactively arrange for the organization, protection, and distribution of your assets in such a way that they benefit your designated beneficiaries in a way that you define. It could be planning for or avoiding probate, keeping a family farm in the family, passing an heirloom, valuable asset, or a business to another person, or provide a stream of income and assets for your surviving spouse after you pass.

An estate plan is unique to an individual or couple based on the type and volume of assets owned coupled with desire to leave a personal or family legacy. Creating an estate plan is not exclusively for the “rich.” Instead, it is a plan that leverages various legal strategies to protect assets, to put them to work, or to transfer to your beneficiaries whether you have $50,000 or more than $5,000,000.

Types

Estate planning strategies like revocable living trusts, protective/spray trusts, IRA Preservation Trusts, special needs trusts, pet trusts, Miller trusts, last wills, transfer or payable on death, property ownership, powers of attorney, and other strategies are blended into an umbrella strategy that is your estate plan.

The concept of estate planning may be new to you or maybe you have been researching it for a while. Either way, put the more than 40 years of estate planning experience of Cliff Rice and Rice & Rice Attorneys in your corner to help develop not just an estate plan, but estate solution.

Why You Need a Rice & Rice Living Trust Centered Estate Plan

You may think you don’t have enough in assets to need any sort of Estate Plan. The reality is that most people who own property and/or who have children, especially from a previous relationship, need to have a well-organized, well-planned Estate Plan to protect their assets, interests and family.

The “What if’s” can cause a lot of lost sleep:

Rice & Rice uses a Living Trust Centered Estate Plan to protect assets, reduce fees (court, attorney, publication, etc.), limit taxes and create the legacy that you want to share with future generations. Absence of a plan can result in paying thousands of dollars in unnecessary fees, avoidable taxable incidents, loss of assets and an extended amount of time spent working through a process in which you and your heirs have little control.

The Rice & Rice Living Trust includes:
In addition to the Living Trust, which is the core of your Estate Plan, your Rice & Rice Plan may include:

We invite you to learn more about the Keys to a Good Estate Plan and Rice & Rice by joining us for an Upcoming Seminar/Dinner. We look forward to providing you with an experience you will want to share with others.

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