At JDB Estate Planning, we specialize in creating customized trusts to protect your assets and ensure your family's future.
Safeguard your wealth and investments with our comprehensive asset protection services, tailored to your unique needs.
Our Power of Attorney service enables a trusted individual to make significant decisions your behalf. We assist in documenting your preferences, offering vital support for your needs.
A living will states your healthcare preferences if you're unable to communicate. We help you create this document to ensure your choices are respected.
We assist families in planning their wills, providing expert guidance to secure their legacies.
Minimize tax burdens on your estate with our strategic estate tax planning solutions.
Practice Areas
The Signature Problem
• Assets in your name require your signature to be transferred in and out of your estate. When you become incapacitated or when you die, you are unable to sign the required documents needed to make such transfers. Your assets get stuck in legal limbo.
Probate = the State’s way of solving the Signature Problem
• Probate is the court process where a judge appoints someone to be your Personal Representative (aka Executor). This person then has authority to sign on your behalf, thus solving the Signature Problem.
• Probate is also the court process where your assets are liquidated, final expenses paid and then your remaining estate is transferred to your heirs. The question is, how does the court know who to appoint, what to do with your assets or who should inherit assets and money from your estate?
Last Will & Testament
• Everyone has a Last Will & Testament that they probably are not aware of. It is called State statute. If you die without a written Will (aka dying intestate), the probate court will look to State intestacy statutes to make decisions about what to do with your estate’s assets and money. Thus, at the very minimum, you need to execute a written Last Will & Testament to give the judge your wishes instead of relying on the State Legislature to do it for you!
Do I want to avoid probate?
• Probate is not fun. It takes a lot of time, costs a lot of money, and there is no privacy. We have never heard anyone who went through the probate process exclaim that they couldn’t wait to go through
probate again. So yes, you want avoid probate if you can.
Living Trust = the easier way to solve the Signature Problem and avoid probate.
• A Living Trust is a living, legal entity. When you follow State law in setting up a Trust, it can legally own property. Think of a Trust as an empty box that you can put your property in for safekeeping. This is similar to setting up an LLC or Corporation, but instead of running a business, a Trust owns the property you give to it.
• During your life you serve as the Grantor, or the person who grants ownership of property to your Trust (aka you put property into and take it out of your box). You also serve as the Trustee of your Trust. That means you get to manage the affair of your Trust – just like you manage your personal affairs, now you will continue doing so as Trustee over the property in your trust. You are also the Beneficiary of your Trust. This means you get to benefit and use the assets you have put into your Trust.
Learn More
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What is estate planning and why is it important?Estate planning involves creating legal documents to manage and distribute your assets after death or incapacitation. It’s important because it ensures your wishes are honored, protects your loved ones, minimizes taxes, and avoids probate delays.
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How can I avoid probate in estate planning?To avoid probate, you can establish a revocable living trust, use beneficiary designations on financial accounts, and hold property in joint ownership. These methods ensure assets transfer directly to heirs without court involvement.
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What is a power of attorney, and why do I need one?A power of attorney is a legal document that allows someone you trust to manage your financial or legal affairs if you become incapacitated. Without one, your family may need court approval to make important decisions on your behalf.
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Can estate planning help reduce estate taxes?Yes, proper estate planning can minimize estate taxes through strategies like setting up irrevocable trusts, making lifetime gifts, and utilizing the marital deduction and charitable donations, helping preserve more wealth for your heirs.
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How often should I update my estate plan?It’s recommended to review and update your estate plan every 3-5 years or after major life events like marriage, divorce, the birth of a child, or significant changes in assets or laws to ensure it reflects your current wishes.
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What happens if I die without a will?If you die without a will (intestate), state laws determine how your assets are distributed, which may not align with your wishes. This can lead to family disputes, higher legal costs, and delays in asset distribution.
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What documents are essential in an estate plan?Key estate planning documents include a Last Will and Testament, Revocable Living Trust, Durable Power of Attorney, Healthcare Proxy, and a Living Will. These documents protect your assets and outline how decisions should be made if you become incapacitated.
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What is the difference between a will and a trust?A will takes effect after death and goes through probate, while a trust becomes active once created and can manage assets during your lifetime and after death. Trusts offer more privacy, control, and can help avoid probate.
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