PRACTICE AREAS

  • Trust and estate planning is an essential aspect of financial responsibility. It involves carefully organizing and managing an individual's assets and affairs in preparation for their eventual passing or incapacity. This process includes creating legal documents such as wills, trusts, and powers of attorney, which serve to specify how assets will be distributed, designate who will make decisions on behalf of the individual if they are unable to do so, and outline strategies to minimize estate taxes and unnecessary legal fees. By taking the time to plan effectively, individuals can preserve their wealth for beneficiaries, reduce potential conflicts, and make a challenging time more manageable for those they leave behind.

  • Trust administration involves the management and oversight of a trust's assets according to the terms set forth by the trust creator (or grantor). This process typically includes duties such as collecting and managing the trust's income, investment of its assets, distributing funds to beneficiaries, and ensuring all tax requirements are met. The trustee is responsible for acting in the best interests of the beneficiaries and adhering to the fiduciary duties outlined in the trust document, as well as those set by law. Effective trust administration is crucial to safeguarding the trust assets and fulfilling the grantor's intentions.

  • Probate administration is the legal process for managing and distributing a deceased person's estate to their heirs and beneficiaries. This involves confirming the will, if there is one, and appointing an executor to oversee the estate. The executor settles debts, files tax returns, and distributes assets according to the will or state law if no will exists. Proper probate administration helps prevent disputes, minimizes delays, and ensures that the decedent’s intentions are respected throughout the probate process.

  • Trust litigation involves legal disputes between trustees and beneficiaries, with issues regarding the trust’s validity, mismanagement of its assets, or disagreements over the trust’s terms. Since trusts bypass probate, they do not require court involvement for asset distribution. However, conflicts can still arise, and when they do, they may be resolved through negotiation, mediation, or, if necessary, court intervention.

  • Estate litigation deals with disputes that arise after an individual has passed and their estate needs to go through probate - a process that involves appointing an executor to manage the estate, settling debts, and distributing assets according to the terms of the will or state law if no will exists. Common issues in estate litigation include challenges to the validity of the will, allegations of fraud or undue influence, and disagreements among heirs over how assets should be distributed.

estate planning services & PricinG

At Katie Krispin Law, I offer comprehensive estate planning packages as well as individual services for clients who prefer a more tailored approach. Prices may vary based on the complexity of your estate, specific needs, and level of customization.

Comprehensive Trust Packages

Single Person: Starting at $2,500 | Married Couple: Starting at $3,500

This package includes everything you need for a robust estate plan:

  • A revocable living trust is an estate planning tool that allows you to manage your assets during your lifetime and determine the distribution of those assets after your death. This type of trust can be altered or revoked by you, the grantor, at any time, providing flexibility in how assets are handled. By transferring ownership of assets into the trust, you can avoid the probate process, which can be time-consuming and costly for heirs. It can also help in the management of assets in the event of your incapacity, making it a useful option for comprehensive estate planning.

  • Even with a trust, a will is still an important part of your estate plan. A will provides clear instructions on how any assets that may not have been included in your trust should be distributed, appoints guardians for minor children, and names an executor to manage the estate.

    Combining a will and a trust can cover all of your bases. The trust can hold the bulk of your assets, allowing them to bypass probate and be distributed directly to your beneficiaries. Meanwhile, the will can address any assets that were inadvertently left outside of the trust and will be subject to probate. This is often called a “pour-over will” because it "pours" those assets back into the trust, ensuring that they are distributed according to the trust’s terms, avoiding the need for separate probate proceedings.

    Without a will, state law will dictate how certain non-trust assets will be distributed, which may not align with your preferences.

  • A financial power of attorney allows you to appoint someone you trust to make financial decisions on your behalf if you become unable to manage your affairs due to health issues or other personal circumstances. This document ensures that your financial matters, such as paying bills and managing investments, continue to be handled according to your wishes.

  • A health care power of attorney allows you to designate an individual to make medical decisions for you if you are unable to do so yourself. This can be crucial in situations where you are incapacitated or facing life-threatening health issues. It ensures your healthcare choices are honored and helps relieve your family of the burden of making difficult medical decisions during an already challenging time.

    A living will, also known as an advance directive, outlines your preferences for medical treatment in the event that you are unable to communicate your wishes. It typically addresses life-sustaining treatments, organ donation, and end-of-life care. This document works in conjunction with your health care power of attorney to ensure that your health care decisions are followed.

  • Properly managing real estate is a crucial part of estate planning. This may include transferring property into a trust, creating transfer on death deeds, or structuring joint ownership. Deeds help ensure that your real property is passed to the intended beneficiaries smoothly and without unnecessary delays or costs.

  • Estate planning can feel overwhelming, but it doesn’t have to be. I offer a free initial consultation to discuss your specific needs and answer any questions you may have about the process. During this session, I’ll walk you through the key elements of estate planning—such as wills, trusts, tax considerations, and more—ensuring that you understand the process and your options moving forward. If you choose to move forward, I’ll provide a personalized consultation to guide you through the process of making informed decisions about asset distribution, selecting individuals or entities to manage your affairs, and implementing strategies to minimize estate taxes. With my step-by-step guidance, I aim to provide you with clear, practical advice that empowers you to make informed decisions at every step of the estate planning process.

Specialty Trusts (Standalone or Add-On Services)

+ Credit Shelter Trust - $3,000 - $5,000

+ QTIP Trust (Qualified Terminable Insurance Property Trust) - $3,000 - $5,000

+ Irrevocable Life Insurance Trust (ILIT) - $2,500 - $4,000

+ Special Needs Trust - $2,500 - $3,500

+ Asset Protection Trust - $3,000 - $5,000

Individual Services (Standalone Documents or Updates)

+ Will-Based Estate Plan (Will + POA documents) - $1,500 - $2,000

+ Power of Attorney (Financial or Healthcare) - $300 (each) or $500 (both)

+ Standalone Will - $750

+ Basic Deed or Transfer on Death Deed - $300 - $500

+ Trust Amendment - varies based on complexity

+ Operating Agreement - varies based on complexity

Don't wait TO start your estate plan.