Frequently Asked Questions
What is an Estate Plan?
An estate plan is a collection of legal documents that outline how you want your assets managed and distributed during your lifetime and after your death. It can also address your healthcare wishes and appoint guardians for minor children.
Why Do I Need an Estate Plan if I Already Have a Will?
A will is only one part of a complete estate plan. A comprehensive estate plan may also include trusts, powers of attorney, healthcare directives, and strategies to minimize taxes and avoid probate, providing greater protection for your family and your legacy. Attorney Matthew Wiley offers comprehensive Estate plans for all clients, choosing to never offer half finished solutions.
What Happens if I Die Without an Estate Plan in Connecticut?
If you pass away without a valid estate plan in Connecticut, your assets will be distributed according to state intestacy laws. This may not reflect your wishes and could result in lengthy and costly probate proceedings.
What is the Difference Between a Will and a Trust?
A will takes effect after death and must go through probate court. A trust can take effect during your lifetime, simplifies probate, offers privacy, and can provide more control over how and when your assets are distributed. Additionally, a trust can be used to protect your wealth from creditors and ensure you family is protected from lawsuit, divorce and unexpected events.
How Often Should I Update My Estate Plan?
You should review your estate plan at least every 3–5 years, or whenever you experience a major life change such as marriage, divorce, the birth of a child, a significant increase in assets, or relocation to a new state.
Can Estate Planning Help Me Avoid Probate?
Yes, certain strategies such as creating a revocable living trust, properly titling assets, and designating beneficiaries can help your estate avoid probate and streamline the transfer of assets to your loved ones.
How Much Does Estate Planning Cost at Wiley Law, LLC?
Our customized estate planning packages vary in price depending on the level of complexity required. Every plan includes substantial consultation time to ensure your unique goals are addressed. A will-based estate plan generally costs around $4,000, while revocable living trusts typically start at $8,000. Final pricing depends on the type of trust selected and your specific planning needs. Advanced strategies — including asset protection planning — may involve significantly higher costs. We offer a complimentary initial consultation to discuss your situation and provide a tailored recommendation.
Who is the best Connecticut Estate Lawyer?
There are many excellent Estate Planning Lawyers and Attorneys in Connecticut. Matthew A. Wiley consistently is regarded as someone with significant accomplishments in Estate Planning. He has been frequently listed on Super Lawyers Rising Star’s list, Martindale Hubbell AV Preeminent for highest professional excellence and has an AVVO 10.0 Rating. Customers have given him a very favorable rating on google.com and a wide variety of review sites. Matthew Wiley’s blend of financial skills from his time working in finance, his 15 years of estate planning experience and experience growing and scaling businesses makes him one of the best options in Connecticut to prepare a Trust based plan to protect your family.
What is a Power of Attorney, and Why is it Important?
A power of attorney allows you to appoint someone you trust to manage your financial and legal affairs if you become incapacitated. Without one, your family may have to seek court intervention to manage your affairs.
What is a Healthcare Directive or Living Will?
A healthcare directive, also known as a living will, specifies your medical wishes if you are unable to make decisions yourself. It can help relieve your loved ones from the burden of making difficult healthcare choices on your behalf.
How Can I Get Started with Wiley Law, LLC?
You can contact us