Estate Planning & Administration
Estate planning is the process of organizing your assets and clearly communicating your wishes as to how your assets should be handled in the event of your incapacity, disability and/or death. Each estate plan is tailored to the client’s specific goals and designed to achieve the client’s distribution wishes. A basic estate plan consists of a Health Care Proxy, Durable Power of Attorney and Last Will and Testament. Advanced estate planning incorporates trusts that provide legal protection for your assets, ensure your assets are distributed according to your wishes and possibly eliminate or reduce estate taxes. At Sullivan & Comerford, we partner with our clients to understand their assets, distribution wishes and financial goals in order to draft the appropriate estate plan to meet each client’s needs.
Estate Administration is the process of winding up a loved one’s property and assets and properly distributing them after they have passed. Being named a personal representative under a will or a trustee under a trust agreement can be overwhelming, especially if you are grieving the loss of a family member or close friend. At Sullivan & Comerford, we assist you with your fiduciary responsibilities as a personal representative or trustee. These responsibilities might include probating the will at the appropriate courthouse, marshalling the decedent’s tangible property, taking inventory of the decedent’s assets, paying expenses and bills, filing tax returns (income, fiduciary, estate), dealing with creditors, and/or selling real estate.