“I have recommended Richard to several of my clients to assist them with their real estate transactions and estate planning needs. My clients have been thrilled with Rich’s attention to detail, his persistence, knowledge, and timely completion of tasks. I would not hesitate to recommend Rich Grabowski to my friends, family, and clients for any of their legal needs.”
~ Mark N.
There are many different approaches and techniques involved in planning an estate. A proper estate plan must be formulated based on an individual’s particular circumstances and therefore is unique and personal to each individual. There are many different tools involved in estate planning, including but not limited to Wills, Trusts, Durable Powers of Attorney, Designation of Conservator, Appointment of Health Care Agents, and Living Wills.
When asked, many clients state that they do not have an estate plan. In fact, nothing could be further from the truth. Most people are surprised to learn that they actually do have a plan. In the absence of a formalized estate plan an individual’s estate will be distributed in accordance with the laws of intestacy set out by the State of Connecticut. Rarely, if ever, does the distribution allotted by the state intestacy statutes match what an individual would have wanted if given the opportunity. A properly drafted estate plan affords an individual with the opportunity to decide where, when and how there estate is distributed ensuring that there personal goals are achieved.
Contact The Law Office of Richard J. Grabowski to schedule a complimentary consultation today to ensure that you and your family receive the protection and peace of mind that a properly drafted estate plan affords.
More About Estate Planning Services:
Last Will and Testament
Your last will and testament is a crucial part to a comprehensive estate plan. When an individual passes away without a Last Will and Testament in place they are said to have died “intestate.” This means that state intestacy laws will now be triggered to determine exactly how their estate shall be distributed.
What you should know about Wills:
- A will does not become effective until after a person has passed. Therefore, will have no legal authority prior to death and cannot be used to assist in the management of an individual’s affairs while incapacitated due to illness or injury.
- Despite popular belief a Last Will and Testament will not help to avoid probate. However, a properly drafted Last Will and Testament will be submitted to the Court of Probate and used as a blue print for distribution in accordance with the individual’s intentions. It will alleviate much of the confusion, stress, and delay that many associate with the Probate process.
- Along with detailing the distribution of an individual’s finances, a Last Will and Testament is an extremely useful tool for nominating guardians for minor children and establishing Special Needs Trusts for minors, mentally handicapped family members, or family members struggling with addiction.
Revocable Living Trusts, Irrevocable Trusts, Testamentary Trusts, Special Needs Trusts, etc.
There are many different types of trusts which are as diverse as the precise uses of which they were intended. Trusts may be used to accomplish a myriad of different goals including, tax planning, investment growth and finance protection.
At its essence every trust follows the same basic form and has the same essential elements. A trust is a formal legal entity which is composed of a grantor (individual whose assets are used to establish the trust), a trustee (individual who manages the trusts assets), and a beneficiary (individual who is the recipient of the assets of the trust).
Contact The Law Office of Richard J. Grabowski to find out if a trust is right for you.
Powers of Attorney
A Power of Attorney is a legal document in which an individual (principal) grants permission for another person (attorney in fact) to conduct certain affairs that the individual can do. The powers bestowed on the attorney in fact are delineated specifically in the Power of Attorney Document. Therefore, the extent of the powers given are limited to the terms of the document. A Power of Attorney will terminate if an individual is incapacitated.
A Durable Power of Attorney mirrors an ordinary Power of Attorney, however it does not terminate upon the disability or incompetence of the principal.
A Power of Attorney or Durable Power of Attorney may be used for many different types of affairs including but not limited to:
- real estate transactions
- estate transactions
- business operating transactions
- personal relationships and affairs
- health care decisions
- banking transactions
Contact The Law Office of Richard J. Grabowski today to find out if a Power of Attorney is right for you.
Health Care Documents (or Advance Life Directives)
Health Care Documents or “Advance Life Directives” are documents which specify the type of medical and personal care which an individual would like or not like to receive when the individual lacks the ability to communicate their own decision. Advance Life Directives are used for an assortment of different purposes and Situations.
A Living Will is an Advance Life Directive in which an individual formally notates their decision not to be kept alive through the use of life support systems such as artificial respiration, feeding tube, or cardiopulmonary resuscitation in the event that their condition is terminal (resulting in death in a relatively short time) or if the individual is permanently unconscious or in a persistent irreversible vegetative state.
A Designation of Health Care Agent is a document in which an individual appoints a person to make health care decisions on their behalf in the event that they are incapacitated. This power can be used on a long term or short term basis for as long as the individual is incapacitated.
Designation of Conservator is a document in which an individual (principal) selects a person (conservator) to act on their behalf in the event that they are incapacitated for an extended period of time. A Designation of Conservator must be formerly approved by a Court of Probate. Once appointed the Conservator powers mirror those afforded by a Power of Attorney or Designation of Health Care Agent however they are different in one major way. A Conservator may apply for Probate Court approval of major decisions (such as sales of real estate) which will then insulate the conservator from personal liability resulting from improper decisions made on behalf of the principal.
Contact The Law Office of Richard J. Grabowski to find out if Advance Life Directives are right for you.