Trusts & Estates

Edward C. Pedersen, PLLC
Designing and implementing a plan to preserve, protect and transfer assets are most effective when completed before a crisis occurs. The crisis, however, sometimes arrives without warning, demanding immediate responses to complex legal, tax, business and healthcare decisions. Inadequate preparation for life transitions and delayed response often lead to increased costs and loss of control over important personal and financial choices.

Wealth Preservation and Protection
Because each client's concerns are unique, our attorneys create plans to give clients the comfort of knowing that their loved ones will be prepared to respond decisively when the need arises. That level of comfort exists not just because of our technical ability, but also because of our excellent listening skills. Working closely with our clients, we get to know them, their families, and their trusted advisors. A commitment to that process allows us to better understand each client's goals and objectives, to identify potential hazards, and to develop creative solutions.

Wealth preservation and protection require an appreciation of the current and future needs of our clients and of those who depend on them. Multi-generational planning requires cutting-edge legal and tax planning techniques and an appreciation of the human dynamics involved in intra-family disputes. Our clients rely on us to help them make prudent business, financial and personal decisions and we take that responsibility seriously.

Estate and Trust Administration
Each executor, administrator, trustee and other fiduciary is bound to promptly create a plan to meet their legal, financial and ethical responsibilities. Without a timely and effective plan, a fiduciary cannot properly discharge the duties of office, thereby risking personal liability for opportunities lost and expenses incurred. We are committed to ensuring that our clients have a complete understanding of their obligations and a clear plan for meeting those obligations before they accept fiduciary appointments.

Strict deadlines, limited marketability of assets and volatile financial markets require beneficiaries to be proactive in protecting their interests. Beneficiaries who delay in asserting their rights could experience irreparable financial harm through missed opportunities, increased tax and other costs and changing economic conditions. Because each trust and estate is unique, we work closely with clients to evaluate the myriad of relevant legal, financial, tax and business issues and to understand their concerns, needs and expectations. Our clients rely on us to help them make prudent decisions for meeting their legal, financial and ethical obligations.

Dispute Resolution
The illness or death of a loved one often evokes strong emotional responses, creating an environment that fosters disagreements. Disputes may center on the validity or interpretation of a will or trust, the unintended consequences of unforeseen circumstances, or the actions of a fiduciary being challenged by a beneficiary. Amicable resolutions to beneficiary-fiduciary, intra-family and administrative disputes are always best. We use the court system only as a last resort.

We are always ready to enforce a beneficiary's right to receive his or her full distributive share and the right to expect that fiduciaries will discharge their duties faithfully, promptly, competently and without bias. We are equally prepared to defend a fiduciary from claims. In administrative forums, we fight to minimize estate and gift tax liability and to secure needed public benefits.
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