This firm has the ability to assist each client in the creation of an estate plan that meets his or her testamentary objectives, particularly in a climate of uncertainty regarding the future direction of the federal estate tax. At a minimum, we believe that each client should have the following documents in place as part of his or her estate plan:
If you do not have an estate plan, the State will provide one for you. Most likely that intestate result will be unsatisfactory to, and needlessly painful for, your loved ones!
- Advance Health Care Directive, which designates your Health Care Representative, who will make medical decisions on your behalf if you are unable to do so; and
- Durable Power of Attorney, which appoints an attorney-in-fact to manage your personal and financial affairs in the event of your absence or inability to do so; and
- Will, which directs the disposition of your assets.
The attorneys are pleased to work with your financial planner, private banker or your bank’s trust department in developing an integrated estate and financial plan. Where practical, clients are encouraged to consider the use of Disclaimer Trust Wills, Irrevocable Minor’s Trusts and Irrevocable Life Insurance Trusts as effective means for directing the disposition of their assets in order to minimize potential estate taxation. For those clients who want to avail themselves of additional financial and estate planning in the form of Private Foundations, Charitable Organizations, Qualified Personal Residence Trusts, Family Limited Partnerships and Limited Liability Companies, the firm is able to coordinate the creation of these entities into the overall estate plan.
For clients who spend a substantial amount of time in Florida, the firm can assist in establishing a domicile in Florida and drafting appropriate Florida estate planning documents, as well as handle estate administrations in Florida.
Dempsey, Dempsey & Sheehan maintains a large Estate and Trust practice, providing counsel to Executors and Trustees in connection with the fulfillment of their fiduciary responsibilities:
- Assistance in the probate of Wills, qualification of the Executor and general estate administration
- In cases of intestacy, assistance to the heirs at law and next of kin in the qualification of an Administrator and administration of the intestate estate
- Preparation and filing of federal and State estate tax and inheritance tax returns
- Preparation and filing of the required Refunding Bonds and Releases
- Preparation of the Executor’s or Administrator’s Account of the Estate Administration and the Beneficiary Agreement Approving the Account and Releasing the Executor or Administrator from any further liability or obligation with respect to same
- Trust administration
- Guardianships and conservatorship