Trust and Estate Planning

At Dallo Law Group, our top-notch and experienced estate planning attorneys have the very best handle on the ever shifting tax, trust, and estate laws.  We tailor plans for each individual client to fit you and your family’s goals and find the most strategic estate arrangement for you. In addition, our representation can include gift tax strategies, transitions of family owned businesses and other assets, as well as guidance for the protection of your family’s properties from any future liability such as divorce, among other circumstances.  Further estate planning areas include retirement goals, elder law, and trust administration. Our lawyers ensure that clients are well informed and all personal concerns are addressed and efficiently processed.  

You may be skeptical as to who really needs such services.  The answer is undoubtedly more people than you can imagine. If you own any assets, you should not delay in seeking trust and estate planning advice, otherwise, you may be exposing you and your family to unnecessary tax consequences and relinquish your wishes as to who receives your inheritance.   With our collaboration and counsel you can put your mind at ease in such areas as:

  • Equitable distribution of your assets and according to your desires
  • Transfer and valuation of your business entities
  • Objectives for your incapacity and death
  • Protection of your children and ensure their proper placement after your death
  • Mitigation of estate taxes and other transfer taxes

One of the first discussions with our attorneys would include analysis for forming a trust, which is a method to protect your assets after incapacity or death.  It could also provide a good way to avoid the complexities of probate. There are different kinds of trusts, so depending on your objectives, these will be discussed with you and will be included in your comprehensive review.  We take the complications out of the process for you.

In the end, our attorneys will assist with integrating all federal, state, income, estate, gift tax strategies to formulate the best estate plan for you.  While our clients include a wide range of varying backgrounds, our personalized approach helps in preserving and protecting each person’s assets and wealth in an efficient manner.  

Probate Administration

Probate is the process of validating the will of an individual or in some instances probate can determine that a person died without a will.  The probate administration process begins with filing the will in court and if no objections exist, the named executor will pay debts of the estate and distribute the assets to the beneficiaries.  In the cases where there is no will, the court will determine the beneficiaries and the distributions.  

The probate process is also used by the federal government to make sure taxes are paid.  Up until the date of death, income taxes for the individual must be paid. If the estate earned income during probate, a separate tax return must be filed as well and taxes paid; and in the case where the estate passed the maximum exemption (around $11,000,000), a federal tax return is required as well for taxes to be paid.  

The basic steps of the probate administration process include:

  • Appoint an executor or personal representative
  • Identify and notify heirs, beneficiaries, creditors, and the public about the deceased individual and the creation of the probate estate
  • Appraise the property and/or assets
  • Pay taxes, creditors, and distribute assets to beneficiaries

Probate administration may come with complications, stress, and deadlines that can be overwhelming, especially during the time of grieving.  Even if the deceased had a will, it may still be incomplete in certain areas and may trigger the emergence of other parties or creditors. In addition, will contests could arise or problems surrounding the personal representative such as breaching of fiduciary duty, which may get very knotty.  

If you find yourself in the position of probate responsibilities, Dallo Law Group can help you handle this process in a timely and smooth manner.  We have an expert lawyer and CPA team built that has exceptional knowledge in tax and estate law. Probate involves many moving parts to get it right.  We are here to get you through it. As always, our initial consultation is complimentary.