Estate Planning and Succession Planning

Estate planning is not just for the rich. A common misunderstanding is that unless you have millions of dollars in assets to consider, you don’t need to worry about carefully planning your estate. That simply isn’t true. After you have passed, there will be people left behind who need to settle your affairs and divide your remaining assets according to your wishes. To make life easier on them and to make sure your money goes where you want it to go, reach out to an estate planning attorney for help. Rinaldi & Poveromo would be happy to serve as your estate attorney to prepare the necessary documents in this matter.

 

Estate Planning Can Be a Complex Task

You might currently be underestimating the amount of work required to plan for how your estate will be handled after your death. No matter the size of your asset portfolio, there is a considerable amount of work to figure out what is going to go where. Attempting to plan your estate is likely to become a frustrating process that does not lead to a fruitful conclusion. By working with an estate planning attorney like Rinaldi & Poveromo, you can cut down on the stress involved with organizing your estate.

There are a number of pieces that you will want to include in your estate plan. Of course, the exact elements that you need to include will depend on your particular set of circumstances – which is why it’s so helpful to work with an experienced estate attorney. By getting advice from a member of our team, you will understand this process and what needs to be covered in the planning process. In addition to a will, there are plenty of other elements to consider, like power of attorney, guardianship, life insurance, and more. Every case is unique, so Rinaldi & Poveromo will approach your needs with fresh eyes to develop a plan that suits your requirements.

 

Succession Planning for Business Owners

If you own your own business, accounting for what will happen to that business after your passing adds another layer of complication to the overall estate planning process. Succession planning refers to the work that needs to be done to ensure your business is handled correctly once you are no longer in charge. As you might imagine, this can be quite complicated, but our experience at Rinaldi & Poveromo comes in handy. Not only are we experienced estate planning attorneys, but we also work frequently in the business world.

It’s common for businesses to be passed down to future generations, but that is not always a viable option. Sometimes, the future generation will simply not want to continue running the business, or they won’t feel the company is viable moving forward. If it is not going to be passed down, a plan should be put in place for how the business will be sold and who will be responsible for that process. Addressing succession considerations as soon as possible puts your business on firmer footing moving forward, as there will be a plan of action in place in the event of your passing.

 

Get Started Today with Estate Lawyers Near Me

Don’t wait any longer to plan how your estate will be handled after your death. Hopefully, this documentation won’t come into play for many years to come, but it will be nice to have it in place. To get started, reach out to Rinaldi & Poveromo to consult your needs and how we can help. Our team looks forward to speaking with you soon.