Capehart Scatchard offers a full range of estate planning services, trust administration, business succession planning, and more. Our wills, trusts, and estate lawyers assist clients in New Jersey, New York and Pennsylvania to protect their assets and interests with thoughtful planning strategies tailored to meet their specific needs. Whether you need assistance with drafting a will or you are concerned about the tax implications of a trust, our responsive team works collaboratively to provide practical solutions that get results.

Elements of Estate Planning

It is never too early to create a will, trusts, and estate plan, but an unforeseen health issue or catastrophe can make it too late. There are several basic elements of estate planning that are helpful for anyone, regardless of age, financial circumstances, or family situation. The most vital elements of an estate plan should include:

• Last Will and Testament
• Power of Attorney for Health Care and Advanced Directive
• General Durable Power of Attorney

Last Will and Testament

A well-crafted will enables you clearly state how you want your assets to be distributed after your death.  It also enables parents of minor children to name guardians and designate monies or property for trusts. Our wills and trusts attorneys in NJ, PA, and NY thoroughly evaluate your finances, family situation, and other factors to help you create a will that reflects your wishes.

Powers of Attorney

There are two types of Powers of Attorney:  living will/health care directive and durable general power of attorney.

A living will/healthcare directive, sometimes known as a health care proxy or a power of attorney for health care, allows you to name an agent to make medical decisions on your behalf if you become incapacitated. An advance directive may be included with a medical power of attorney. An advance directive enables you to specify your wishes for end-of-life decisions such as resuscitation, feeding tube, ventilator, and other lifesaving treatment.

A general durable power of attorney, sometimes known as a power of attorney for finances, enables you to appoint an agent to handle financial matters in the event of your incapacitation. Your agent can do everything from paying bills to managing assets and real estate. You may be as general or specific as you would like and give your agent as much or as little power as you wish.

These vital legal documents protect your interests when you’re at your most vulnerable and help make things easier for loved ones at an already difficult time. Our wills, trusts, and estate lawyers in NJ, NY, and PA can advise you on important details to include in your powers of attorney.

Trusts

A trust is a fiduciary arrangement that enables your assets to be held for beneficiaries and managed by a third party, a trustee. Typically, assets in a trust do not have to go through probate, which allows your beneficiaries to receive assets soon after your death. There are many different types of trusts, some of which can provide tax benefits to your estate.  A trust can also protect assets for minor children and loved ones who may not be good at managing money. Our wills and trusts attorneys can help you understand how trusts work and provide guidance on which types may be best for you.

Estate Administration and Estate Tax Strategies

Complex and ever-changing state and federal laws present unique challenges when it comes to estate and tax planning. Our wills, trusts, and estates team includes three attorneys with an LLM in Taxation. These highly trained professionals put their knowledge and experience to work for clients to develop effective, personalized tax planning strategies.

Business Succession Planning

Whether you’re just starting out or you have been an entrepreneur for years, business succession planning is vital to the estate planning process to maximize the value of the business to your estate. Creating a plan for what will happen to your business if you retire, become incapacitated, or pass away can preserve the legacy you want to leave behind. It also protects your family’s interests and can make the transition run much more smoothly for partners, managers, and employees.

Other Estate Matters

Our wills, trusts, and estates attorneys have decades of experience handling myriad issues, including elder law, Medicaid planning, probate, and more. Proper estate planning can minimize the potential for family disputes and ensure your assets are distributed according to your wishes. Our estate planning lawyers can also assist you with:

• Estate and trust litigation concerning will contests, interpretation of wills and trusts, claims of undue influence, fraud, and duress
• Guardianship
• Administration of estates and trusts
• Creditor claims against estates and insolvent estates
• Estate and inheritance tax distributions and domicile challenges
• Spousal elective share
• Fiduciary litigation relating to the administration of an estate or trust
• Special needs trusts and supplemental needs trusts

Capehart Scatchard has been protecting families and their assets for more than 145 years. Our experienced teams of legal professionals take a collaborative approach and help clients work toward the best possible outcomes.

Contact Our Estate Planning Attorneys In NJ, NY, and PA

Our knowledgeable wills, trusts, and estate lawyers at Capehart Scatchard are dedicated to providing quality legal counsel in New Jersey, New York, and Pennsylvania. We offer competitive fees and the responsive, personalized service you deserve. To schedule a consultation, call 856-234-6800 or contact us online today.