The development of an estate plan using the services of an attorney is strongly recommended. Estate planning typically includes the development of a variety of documents, including a will, health care proxy, and durable power of attorney.

Working closely with his clients on the decision-making process, Gregory assists with comprehending the often intricate consequences that need to be considered. He also helps clients to plainly convey their desires, eliminating errors, minimizing taxes, and adapting plans as conditions change.

A trust, a fiduciary agreement that enables a third party (the trustee) to maintain assets on a beneficiary or beneficiaries behalf, is customarily used for avoiding probate court and can provide additional advantages as a component of an estate plan. Trusts can be organized in various manners and can specifically stipulate how and when assets are distributed to beneficiaries.

The benefit of working with Kotsonis Law on estate planning is that Gregory has prepared hundreds of estate plans and trusts for individuals, all designed for his clients to maximize their assets and leave as much as possible to their beneficiaries.

Probate is the legal procedure of administering the estate of a deceased individual, settling the claims against the estate and dispersing the deceased person’s property. As a probate lawyer, Gregory Kotsonis advises executors and beneficiaries of an estate on how to settle the final affairs.

During the official probate proceedings, assets are determined and valued, creditors are informed, any tax matters are acknowledged, and the Court ultimately announces an Order listing the creditors who will be compensated and who will obtain a dispersal of the remaining assets.

There is a potential to go through probate whether or not the deceased had a will. The way in which the possessions are titled and the estate scope are the standards that usually determine whether formal probate is necessary.

While a probate lawyer is able to assist you through the process, Gregory strongly encourages appropriate estate planning in order to eschew or diminish probate. With suitable planning in place before death, loved ones are saved the difficulty of having to sort through the affairs of the deceased in probate court.