Estate Planning Legal Services

Basic Pricing

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Basic Pricing for Brenden Kelley Law Estate Planning Services

Estate Planning Packages

Estate Planning Package

$750 per person. $1,250 for couples.

  • Last Will & Testament
  • Durable Power of Attorney
  • Healthcare Power of Attorney
  • Living Will

 

Estate Planning + Trust Package

$3,000

  • Last Will & Testament
  • Durable Power of Attorney
  • Healthcare Power of Attorney
  • Living Will
  • Revocable or Irrevocable Trust

 

Estate Planning + Dynasty Trust Package

$4000

  • Last Will & Testament
  • Durable Power of Attorney
  • Healthcare Power of Attorney
  • Living Will
  • Dynasty Trust

 

Estate Planning + Trust + Dynasty Trust Package

$5500

  • Last Will & Testament
  • Durable Power of Attorney
  • Healthcare Power of Attorney
  • Living Will
  • Revocable or Irrevocable Trust
  • Dynasty Trust

Estate Planning Documents

Last Will & Testament $250

A last will and testament is a legal document that specifies how a person’s assets will be distributed after their death. It also allows a person to name an executor to manage their estate and guardians for their minor children. Additionally, a last will and testament can be used to make specific bequests, such as gifting personal property or setting up trusts for beneficiaries. It is important to note that a last will and testament must be properly executed and witnessed in order to be considered valid by a court.

Durable Power of Attorney $250

Durable Power of Attorney $250

A durable power of attorney is a legal document that allows a person, known as the “principal,” to appoint another person, known as the “agent,” to act on their behalf in financial and/or legal matters. The authority granted to the agent under a durable power of attorney typically becomes effective immediately and remains in effect even if the principal becomes incapacitated. This means that the agent can make decisions and take actions on the principal’s behalf in the event that the principal is unable to do so themselves. The principal can also specify the scope of the agent’s authority and can revoke the durable power of attorney at any time while they are still capable of making decisions.

Healthcare Power of Attorney $250

A healthcare power of attorney, also known as a “durable power of attorney for healthcare” or a “medical power of attorney,” is a legal document that allows a person, known as the “principal,” to appoint another person, known as the “agent,” to make medical decisions on their behalf in the event that they are unable to do so themselves. This includes decisions related to treatment, surgery, medications, and end-of-life care. It is important to have a healthcare power of attorney in place to ensure that your wishes are respected and that someone you trust is making decisions on your behalf in case of incapacity.

Living Will $250

A living will, also known as an advance directive, is a legal document that specifies a person’s wishes for end-of-life care in the event that they become incapacitated and unable to make decisions for themselves. It typically includes instructions about the use of life-sustaining treatments, such as artificial nutrition and hydration, mechanical ventilation, and cardiopulmonary resuscitation (CPR). A living will allows individuals to have a say in their care and ensure that their wishes are respected, even if they cannot communicate them at the time. It is important to note that a living will is not the same as a healthcare power of attorney and it may be useful to have both in place in order to fully address one’s end-of-life care wishes.

Irrevocable or Revocable Trust $3,000

An irrevocable trust is a trust that, once created, cannot be modified or terminated by the grantor (the person who creates the trust). This means that the assets placed in the trust are no longer under the control of the grantor and are protected from creditors, lawsuits, and estate taxes. Because the grantor no longer has control over the assets, irrevocable trusts are often used for estate planning and tax reduction strategies.
A revocable trust is a trust that can be modified or terminated by the grantor at any time, and during the grantor’s lifetime. The grantor retains the right to change the terms of the trust, add or remove assets, and even dissolve the trust entirely. The assets placed in the trust remain under the control of the grantor, and are not protected from creditors, lawsuits, and estate taxes as in the case of irrevocable trust. This type of trust is often used for estate planning and asset protection during the grantor’s lifetime.

Dynasty Trust/Generation-Skipping Trust $4,000

A Dynasty Trust or Generation-Skipping Trust is a type of irrevocable trust that is designed to provide for multiple generations of beneficiaries. The trust assets are transferred to the trust and managed by a trustee for the benefit of the beneficiaries, who are typically the grantor’s descendants. The trust can be set up to last for many generations, potentially even perpetuity, depending on the state laws where it is established. The assets within the trust are protected from creditors, lawsuits, and estate taxes, and the trust can also be structured to minimize gift and estate taxes. The key feature of this trust is that it allows the assets to be passed down to future generations without the need for each generation to pay estate taxes on the assets they inherit, which is why it is called Generation-skipping trust.

Special Needs Trust (SNT) $2,500

A Special Needs Trust (SNT) is a type of trust that is specifically designed to provide financial support for individuals with special needs, such as those who have a physical or mental disability. These trusts are often established by a parent, grandparent, or other family member, but can also be established by a court or the individual themselves. The purpose of the trust is to ensure that the individual’s needs are met without affecting their eligibility for government benefits such as Medicaid or Supplemental Security Income (SSI). The trust can be used to pay for things such as medical expenses, therapy, education, and other items that improve the individual’s quality of life. The trust assets are managed by a trustee and are not considered as the individual’s assets for the purpose of determining their eligibility for government benefits.

Qualified Terminable Interest Property Trust (QTIP) $2,500

A Qualified Terminable Interest Property Trust (QTIP) is a type of trust that is used to provide for a surviving spouse while also ensuring that the trust assets will ultimately pass to the grantor’s chosen beneficiaries. The trust is typically established by the grantor during their lifetime and provides an income stream for the surviving spouse. The grantor can also specify that the trust assets will pass to a specific beneficiary or beneficiaries upon the death of the surviving spouse.

One of the key features of a QTIP trust is that it allows the grantor to use their estate tax exemption to reduce or eliminate estate taxes on the trust assets. Additionally, the trust assets are protected from the claims of the surviving spouse’s creditors and are not included in the surviving spouse’s estate for estate tax purposes. The QTIP trust is useful in situations where the grantor wants to provide for a surviving spouse while also ensuring that the trust assets will ultimately pass to other beneficiaries, such as children from a previous marriage.

Grantor Retained Annuity Trust (GRAT) $2,500

A Grantor Retained Annuity Trust (GRAT) is a type of trust that is used to transfer assets to beneficiaries while minimizing gift and estate taxes. The trust is typically established by the grantor, who transfers assets into the trust and retains the right to receive a fixed annuity payment for a specified period of time. After the end of the annuity period, the remaining trust assets pass to the trust beneficiaries, typically the grantor’s children or other descendants.

The key feature of a GRAT is that it allows the grantor to transfer assets to beneficiaries while potentially minimizing gift and estate taxes. Because the grantor retains the right to receive an annuity payment, the value of the assets transferred to the trust is reduced for gift and estate tax purposes. Additionally, if the grantor dies during the annuity period, the remaining annuity payments will be included in the grantor’s estate for estate tax purposes. GRATs are often used as a tax planning strategy by high-net-worth individuals to minimize the impact of gift and estate taxes on their assets.

Irrevocable Life Insurance Trust (ILIT) $2,500

An Irrevocable Life Insurance Trust (ILIT) is a type of trust that is used to hold and manage a life insurance policy. The trust is established by the grantor, who transfers ownership of the policy to the trust and names the trust as the policy’s beneficiary. The trust is typically managed by a trustee, who is responsible for paying the policy’s premiums and managing the policy’s cash value.
The key feature of an ILIT is that it allows the grantor to remove the death benefit of a life insurance policy from their estate, thus reducing the overall estate tax liability. Additionally, because the trust is irrevocable, the life insurance policy is protected from creditors and cannot be included in the grantor’s estate for estate tax purposes. An ILIT can also be used to provide for a specific individual, like a child with special needs, or to provide liquidity to the estate to pay off debts or estate taxes. It is important to note that for the trust to be effective for estate tax reduction, the grantor cannot retain any incidents of ownership of the policy, such as the power to change beneficiaries or to borrow against the policy.

Charitable Trusts (CLTs and CRTs) $2,500

Charitable trusts are a type of trust that is created to benefit a charitable organization or organizations. There are several types of charitable trusts, each with its own specific purpose and tax benefits.

A Charitable Lead Trust (CLT) is a type of trust where the income generated by the trust assets is paid to a charitable organization for a certain period of time, after which the remaining assets in the trust pass to non-charitable beneficiaries, such as the grantor’s children or other descendants. The grantor can claim an income tax deduction for the present value of the income payments to charity, and the trust assets may also be removed from the grantor’s estate for estate tax purposes.
A Charitable Remainder Trust (CRT) is a type of trust where the income generated by the trust assets is paid to non-charitable beneficiaries, such as the grantor or the grantor’s children, for a certain period of time, after which the remaining assets in the trust pass to a charitable organization. The grantor can claim an income tax deduction for the present value of the remainder interest that will ultimately pass to charity, and the trust assets may also be removed from the grantor’s estate for estate tax purposes.

Charitable trusts are a useful tool for individuals who want to support charitable organizations and also receive tax benefits, such as reducing their income or estate tax liabilities. It is important to note that for the charitable trust to be effective, the trust must meet certain requirements, such as the charitable organization must be a qualified organization and the trust must be established for a charitable purpose.

*Pricing Disclaimer: Please note that the pricing information provided on this page is for reference only and is subject to change. It is intended to provide general information and may have limitations. To engage the services of Brenden Kelley Law, it is necessary to contact the firm and sign an attorney-client service agreement. For more information, please contact us.

Related:  Estate Planning

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Why Choose Us to be Your Legal Representative in Ohio?

    • Experience: Brenden Kelley Law Firm brings a wealth of experience to estate planning, with years of practice, a diversity of cases handled, and a deep understanding of legal complexities. This experience translates into effective and sophisticated estate planning strategies tailored for Ohio residents.
    • Limited Clients: Our firm takes a selective approach to client management, working with a limited number of clients at a time. This ensures that each client receives dedicated, focused legal service and allows for a deeper understanding of individual estate planning needs.
    • Proven Results: Brenden Kelley Law Firm has a proven track record of successful outcomes in estate planning. Our history of achieving clients' estate planning goals in Ohio is a testament to our expertise and commitment to excellence.
    • Client Focus: Our clients' needs and goals are at the forefront of our estate planning process. We provide personalized attention, tailored advice, and a commitment to client satisfaction, demonstrated through regular updates, comprehensive consultations, and accessible communication.
    • Local Knowledge: Our deep understanding of Ohio's legal landscape is a critical asset in estate planning. We are well-versed in state-specific laws and regulations, ensuring that our clients' estate plans are not only legally sound but also optimized for Ohio's unique legal environment.
    • Clear Fee Structure: Transparency is a cornerstone of our practice. We offer a clear fee structure, ensuring that clients understand the costs associated with their estate planning services upfront, without any surprises. This transparency builds trust and ensures that our clients receive value for their investment in our services.

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