Confidence That Your Heirs Will Receive Everything You Intended For Them
Documents such as a last will and testament, durable power of attorney and trust, are key estate planning tools that ensure your wishes are honored, and that your estate is handled as you wish. Vorzimer Masserman - Fertility & Family Law Center assist our clients in drafting these documents to avoid costly probate hearings and tax liabilities after your death.
Probate entails authenticating the decedent’s will, paying off the assets of the estate, and distributing the estate’s assets to the heirs. Without the correct planning, this can be a long and drawn-out process.
When someone passes with a trust, a successor trustee is placed in charge of paying the debts of the estate and distributing its assets. This process does not involve the courts, which means the process is far quicker, simpler, and less expensive. Often, a trust also bypasses estate taxes, leaving more to your surviving heirs.
Pioneers In Reproductive Estate Planning Legislation
VM created the very first-of-its-kind Reproductive Estate Plan (REP), which has now become an industry standard in the reproductive community. An REP is designed to offer clients the same type of asset protection they use for their financial estate, but for their reproductive estate, i.e. frozen embryos, eggs and sperm.
Put simply, an REP protects the rights and interests of clients and their unborn children in the event of legal separation, divorce, legal incapacity or death.
Among other things, the REP is designed to:
(1) Resolve intestate parentage/inheritance issues that would result if intended parents and/or recipients decease after contracts have been executed, but before their parental rights have been finalized;
(2) Enable intended parents to designate legal guardians to make legal and medical decisions, and take custody of their existing and unborn children in the event of their legal capacity or death;
(3) designate a third party as an “attorney-in-fact” to act in their stead if the intended parents are deceased or unavailable;
(4) Expressly manifest their intent regarding, the future use and/or disposition of their genetic property, and/or cryo-preserved sperm, eggs or embryos, and the creation of a child(ren) after their death.