Wills & Trusts
Losco & Marconi attorneys take pride in developing estate plans that achieve our clients’ objectives. Through careful listening and identifying of goals we help our clients to create an estate plan that provides protection for loved ones and assets as well as minimizes an estate’s exposure to taxes during the transfer of wealth.
A well-drafted estate plan can do more than simply provide a blueprint for distributing assets. Our role is to help a client arrange his or her financial affairs so that, upon the client’s death, the client’s assets are distributed exactly as he or she wishes and the tax consequences of distributing that property are minimized. We work with our clients to help them to implement their estate planning goals ranging from straight-forward to very complex.
Estate Administration and Probate involves gathering the assets of the estate, paying the decedent’s debts, and distributing the remaining assets. In Delaware, if the value of the assets in the estate exceeds $30,000 in solely owned personal property or the decedent owned Delaware real estate in his/her name alone an estate must be opened.
The estate administration process is necessary in order to pass legal title of assets and is accomplished either by probating the will or dividing the assets according the laws of intestacy.
When a loved one dies with or without a will, there are a number of estate administration documents that must be filed with the Register of Wills or Probate Court as well as tax returns to be filed. Our office would be pleased to prepare these documents for you and assist you with this process.