Miller Law Firm Ltd.

At Miller Law Firm Ltd., we concentrate on estate planning, asset protection, business planning, and real estate litigation.  Our mission is to create estate plans that suit our client's unique needs, goals, and concerns and to serve our clients with the highest degree of compassion and integrity.

should i have an estate plan?

People have a tendency to put off planning for their own death.  Life is very fragile, and none of us know when our time on earth will be over.  By planning in advance for the protection, conservation, and distribution of your assets, you reduce stress for your family in an already difficult time.  The most expensive estate plan is no estate plan.  Also, when you die without a written estate plan, the State provides you with a default estate plan under the laws of intestacy.  Your assets may pass to someone other than the person of your choosing.  Everyone should have an estate plan to avoid confusion, save money, and guarantee that your assets pass according to your wishes.

Some Differences between

a Trust & a will 

• Effective date- A trust takes effect when you sign the document.  A will takes effect when you pass. 
• Incapacitation- Trusts make  managing a person's finances easier and provide more flexibility. Since a will is only effective at death, a power of attorney may be used to appoint temporary decision makers.
• Privacy- A trust is usually a private document.  A will is made public during the probate process.
• Asset Protection- A trust can prevent a beneficiary from losing his or her assets to creditors or a divorce.  A will does not provide asset protection.
• Spendthrift or Minor Beneficiary - A trust can make distributions to a beneficiary over a period of time.  A will provides for a lump sum distribution to a beneficiary.  If the beneficiary is a minor, a costly guardianship may be required.
• Estate Taxes - A trust can minimize estate taxes for married couples by doubling estate tax exemptions.  A will does not provide the same tax savings.