Estate Planning At KSR we aim to guide individuals and families in the process of planning for the transfer of assets when a loved one passes. The individual’s estate is unique and we strive to understand each person’s planning goals, taking into consideration the size of the estate, nature and location of the assets, family members and their special needs, and any limitations they want to put on the use of their assets after death. Estate planning also involves preparing for incapacity and/or serious illness during a person’s life through powers of attorney and healthcare proxies. Everyone needs a will, power of attorney and healthcare proxy as basic estate planning documents. However, more complex estate planning can involve revocable living trusts, testamentary disclaimer trusts, irrevocable income only trusts (medicaid trusts), supplemental needs trusts, charitable remainder trusts and other specialized trusts. Estate planning for small business owners and farmers often involves very complex planning and requires an understanding of the relationship between their business operations, business entities, real estate holdings and their estate planning goals. At KSR we have the experience and expertise to guide clients through that complex process.

Estate & Trust Administration When a person dies, his or her estate is commonly administered by a fiduciary under the supervision of the Surrogate’s Court, either an executor named in the will or an administrator appointed by the Court. We will prepare all of the documentation necessary for the appointment of the fiduciary and assist him or her with the often complex tasks of locating and collecting
assets, ascertaining legitimate claims and paying the legitimate debts of the estate, selling estate assets if necessary, arranging for the preparation of estate tax returns, distributing assets to beneficiaries and closing out the estate with a formal or informal accounting as appropriate. When a person has transferred assets into a trust, we advise Trustees regarding their duties administering the Trust while the beneficiary or beneficiaries are alive and regarding distribution of assets upon termination of the Trust.