Trusts And Estates Lawyers in Dover, DE
Trusts & Estates Lawyers Help You Plan For The Future
Trusts and Estates law is an area of law that deals with the legal arrangements for the management and distribution of a person’s assets after their death. It encompasses a wide range of legal tools and strategies, including wills, trusts, powers of attorney, living wills, and Medicaid planning.
At Schmittinger & Rodriguez, the primary goal of our trusts and estates attorneys is to ensure that a person’s assets are distributed according to their wishes and in a way that minimizes taxes and expenses. It also involves making arrangements for the care of minor children and for the management of assets in the event of incapacity. Trusts and estates law is complex and requires careful planning and attention to detail in order to ensure that a person’s wishes are carried out effectively. An experienced trusts and estates attorney can help clients navigate this complex area of law, identify potential issues and provide tailored solutions to meet their specific needs.
Our trusts and estates attorneys in Dover, DE can provide the legal knowledge and guidance needed to ensure that a person’s legacy is protected and their loved ones are provided for.
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Who Needs Trusts & Estates Lawyers?
At Schmittinger & Rodriguez our trusts and estates attorneys believe that each person should consider their own needs, however, regardless of family or financial status, everyone should create an estate plan with the proper legal documents to plan for a catastrophic injury event and ultimately for their death. While Delaware law sets out some basic principles, after seeking the advice of experienced attorneys and sharing confidential information, each person can make an informed decision for long-term care, medical decisions, a basic will, and other actions that will protect themselves and their property.
Estate Planning
The trusts and estates lawyers at Schmittinger & Rodriquez offer a full array of estate planning services for our Delaware clients. These include the planning and preparing of certain documents and the handling of various estate matters including:
Drafting a will
Drafting an advanced healthcare directive
Creating a trust; revocable trust; and irrevocable trust
Special needs trusts
Estate planning
Elder law services
Probate services
Creating a power of attorney
Drafting living wills
While this is not a comprehensive list of all services, these are the essential ones each person should consider. At Schmittinger & Rodriquez we want each client to feel comfortable telling their lawyer what their concerns and needs are today and hearing back how those needs may change so each client and their family can have all their legal needs protected. You and your loved ones should not have to wait until the last minute or until it’s too late to make sure wishes are known and carried out.
What Our Clients Say
Most Common Questions
Do I Need A Will & Who Can Make A Will In Delaware?
In Delaware, it is highly recommended that every person who owns any assets creates a will to ensure their assets are distributed according to their wishes upon their death. A will is a legal document that specifies how a person’s assets will be distributed after their death. It can also name a guardian for minor children and designate an executor to manage the distribution of assets. If a person dies without a will, their assets will be distributed according to Delaware intestacy laws (no will), which may not reflect the person’s wishes. Therefore, having a will in place can ensure that a person’s assets are distributed as they intended, which can give them peace of mind.
In Delaware, anyone who is over the age of 18 and of sound mind can make a will. The will must be in writing, signed by the person making the will, and witnessed by at least two individuals who are not beneficiaries of the will. It is also important to note that if a person wishes to modify or revoke their will, they must do so in writing and follow the same formalities as creating a will.
Given the complex legal requirements and potential pitfalls of creating a will, it is highly recommended that individuals seek the guidance of the wills attorneys at Schmittinger & Rodriguez to ensure that the will is properly drafted and executed, thereby minimizing the likelihood of disputes or challenges after the person’s death. Additionally, a wills attorney can help individuals develop a comprehensive estate plan that takes into account their unique circumstances and objectives, including tax planning and asset protection.
Why Would I Need A Trust In Delaware?
There are many reasons why a person may need a trust as part of their estate plan. One of the primary benefits of a trust is that it can help to avoid the probate process, which can be time-consuming, expensive, and public. A trust allows a person to transfer their assets to the trust during their lifetime, which means that the assets will be managed by the trustee (who can be the person creating the trust) and distributed to the beneficiaries according to the terms of the trust, without the need for probate.
Another reason why a person may need a trust is to provide for minor children or loved ones with special needs. A trust can be established to hold assets for the benefit of these individuals and ensure that they are provided for in a way that meets their unique needs. A trustee can be designated to manage the assets in the trust and distribute them according to the terms of the trust, which can provide peace of mind to the person creating the trust.
Trusts can also be used for tax planning and asset protection purposes. For example, a person may establish a trust to hold assets that are expected to appreciate in value, which can allow the assets to grow tax-free and be distributed to beneficiaries in a tax-efficient manner. Additionally, trusts can be used to protect assets from creditors or to provide for the long-term care needs of a person without jeopardizing their eligibility for Medicaid benefits.
Ultimately, whether or not a person needs a trust will depend on their unique circumstances and objectives. The experienced estate planning lawyers at Schmittinger & Rodriguez can help individuals evaluate their options and develop a comprehensive estate plan that meets their needs and protects their legacy.
What Is An Advanced Healthcare Directive?
An advanced healthcare directive, also known as a living will or healthcare power of attorney, is a legal document that allows a person to express their wishes regarding medical treatment in the event that they are unable to do so themselves. It can specify the types of medical treatments and interventions that the person does or does not want, as well as designate a healthcare agent to make medical decisions on their behalf.
Having an advanced healthcare directive is important because it allows a person to maintain control over their healthcare decisions even if they are unable to communicate their wishes due to illness or injury. It can also help to ease the burden on family members and healthcare providers who may be struggling to make medical decisions on behalf of the person.
In Delaware, an advanced healthcare directive can also include instructions regarding end-of-life care, such as whether or not the person wishes to receive life-sustaining treatment or artificially administered nutrition and hydration. This can be a difficult and emotional decision for family members to make without guidance from the person themselves, so having a clear and legally binding document that reflects the person’s wishes can provide peace of mind to both the person and their loved ones.
It is important to note that an advanced healthcare directive is only effective if it is properly executed and reflects the person’s current wishes. Therefore, it is recommended that individuals review and update their advanced healthcare directives periodically, particularly if there have been any significant changes in their health or personal circumstances.
The DE lawyers at Schmittinger & Rodriguez can help individuals create an advanced healthcare directive that reflects their wishes and ensures that their healthcare decisions are respected. They can also help individuals understand their options and develop a comprehensive estate plan that addresses their unique needs and objectives.
Experienced Trusts & Estates Lawyer
Hiring an estate planning lawyer in Delaware ensures that you have the right attorney with whom you can share confidential information, make an estate plan, discuss estate taxes, and be confident that all your legal needs are being met in this specific area of the law.
At Schmittinger & Rodriguez, we understand how difficult and stressful it can be to deal with life-and-death decisions. Our team has decades of combined experience handling these sensitive matters offering clients peace of mind that they and their loved ones are legally protected.
If you or someone you love has estate planning needs, contact Schmittinger & Rodriguez today for a consultation. YOUR CASE. OUR PRIORITY.
Why Schmittinger & Rodriguez Is Right For You
At Schmittinger & Rodriguez, we understand how difficult and stressful it can be to deal with life-and-death decisions. Our team has decades of combined experience handling these sensitive matters offering clients peace of mind that they and their loved ones are legally protected.
If you or someone you love has estate planning needs, contact Schmittinger & Rodriguez today for a consultation. YOUR CASE. OUR PRIORITY.
Trusts & Estate Planning FAQs
A revocable trust, also known as a living trust, can be changed or revoked by the grantor at any time during their lifetime. An irrevocable trust, on the other hand, cannot be changed or revoked by the grantor once it has been established.
Estate planning is the process of arranging for the management and distribution of a person's assets after their death. This can include creating a will, establishing trusts, and making arrangements for the payment of taxes and other expenses.
Probate is the legal process of administering a person's estate after their death. This includes validating the will, identifying and inventorying assets, paying taxes and debts, and distributing assets to beneficiaries.
A power of attorney is a legal document that grants another person the authority to act on behalf of the person creating the document. This can include managing financial affairs, making healthcare decisions, or other important matters.
A living will is a legal document that specifies a person's wishes regarding medical treatment if they become incapacitated and unable to make decisions for themselves. It can include instructions regarding life-sustaining treatments such as ventilators or feeding tubes.
Medicaid planning involves arranging a person's finances and assets in a way that allows them to qualify for Medicaid benefits while preserving assets for their heirs. This can include establishing trusts, transferring assets, and making other financial arrangements.
What questions will I be asked when making a will?
What will my funeral arrangements be?
Who will get my property and assets?
What happens to my debts?
Who will look after my non-adult children?
What will happen to my pets?
What will happen to my business?
Will Inheritance Tax be payable?
Do I want to give anything to charity?
Common examples include life insurance policies, IRAs, 401(k)s, and pensions. Bank accounts with beneficiaries. These do not go through probate if they have a payable on death (POD) designation. Another property such as real estate or vehicles is a non-probate property if there's a transfer on death (TOD) designation.
