Estate Planning & Administration
When an individual passes away, the estate plan
becomes implemented. During this phase, a host of issues must be addressed, including gathering assets, paying debts, and filing tax returns. Mr. Nogowski works closely with the parties involved in an estate, including beneficiaries, executors, administrators, trustees and other fiduciaries, to ensure that they perform their responsibilities and, in the case of beneficiaries, obtain their rightful distributions.
Estate planning and estate administration go hand in hand.
Estate planning involves the steps one takes prior to death to preserve, control and protect assets in preparation for the future.
Estate administration involves all of the issues that must be dealt with at the time of death and thereafter. Ideally, it is the actual implementation of the estate plan.
Estate planning plays a critical role during and after one’s life. Proper estate planning benefits clients in numerous ways, through reduced taxes, providing for loved ones, preserving inheritances, controlling assets, appointing chosen people to handle matters at the time of incapacity or death, making health care decisions, caring for minor children or other persons with special needs, protecting assets from creditors, and simplifying the ultimate administration of the estate.
Charitable planning, including private foundations
Pension and profit sharing arrangements
Succession planning for owners of closely-held businesses
Tax-oriented trusts and other tax-related methods to create flexibility so that the estate pays minimum taxes
Wills, trusts, durable powers of attorney and other similar protection vehicles
Dispute Resolution & Estate Litigation
Major life events such as sickness, incapacity or death can bring about strong emotional responses, often setting the stage for conflict and dispute. During the administration of an estate, disputes can arise from a myriad of issues, such as the validity or interpretation of a will or trust, or actions of beneficiaries, executors or trustees.
Although resolving these issues amicably is the ideal, sometimes an amicable resolution does not occur. In such cases, Mr. Nogowski stands ready to enforce the client's rights through arbitration, mediation or litigation.