estate planning Omaha - Resources

Wills and Trusts in Estate Planning

At Small Business Accounting & Tax, Inc., we understand the crucial role wills and trusts play in estate planning. These legal instruments help ensure your assets are distributed according to your wishes upon your passing. A will provides clear instructions on asset distribution, while trusts can offer more control over how and when your assets are passed on, often offering tax benefits and avoiding probate.

Powers of Attorney for Estate Planning

Financial and Healthcare Powers of Attorney are essential components of a comprehensive estate plan. These documents allow you to appoint someone to manage your finances and make healthcare decisions on your behalf if you're unable to do so. This preemptive measure ensures that your wishes are respected, even if you're incapacitated.

Advance Directives in Estate Planning

A Living Will, part of your Advance Directives, specifies your wishes regarding medical treatment in situations where you can't communicate your decisions. It's a critical document that guides your loved ones and healthcare providers through difficult decisions, emphasizing the importance of clear communication in estate planning.

Estate Planning for Blended Families

Blended families face unique challenges in estate planning. With stepchildren, ex-spouses, and shared properties, it’s vital to have a well-crafted plan to ensure that your assets are distributed according to your wishes. Customized trusts and clear wills are often necessary to address these complexities.

Estate Tax Planning in Omaha

While Nebraska doesn't impose an estate tax, federal taxes may apply to larger estates. At Small Business Accounting & Tax, Inc., we specialize in tax planning strategies that can reduce or even eliminate these taxes, maximizing the inheritance for your beneficiaries.

Guardianship and Conservatorship in Estate Planning

Designating guardians and conservators is a significant step in protecting both minor children and adults unable to make decisions for themselves. These appointments ensure that someone you trust is responsible for caregiving and financial management, respectively, in the absence of your ability to do so.

Charitable Giving in Estate Planning

Integrating charitable giving into your estate plan can fulfill philanthropic goals while offering tax advantages. Whether through donations, creating a charitable trust, or designating charities as beneficiaries, these actions can leave a lasting legacy and possibly reduce estate tax liability.

Special Needs Planning in Estate Planning

For families with special needs members, estate planning takes on added importance. Setting up a Special Needs Trust can ensure that a loved one continues to receive care and support without jeopardizing eligibility for government benefits. Our team can help navigate these sensitive considerations with compassion and expertise.

Business Succession Planning in Estate Planning

For business owners, succession planning is a key part of estate planning. It’s about ensuring the smooth transition of your business to the next generation or a chosen successor. We work closely with business owners to develop strategies that address leadership, ownership, and tax implications of passing on a business.

Probate and Estate Administration in Omaha

Probate can be a complex process, but it's a necessary step in administering many estates. Our team at Small Business Accounting & Tax, Inc. can guide executors through the probate process, helping with inventorying assets, paying debts and taxes, and distributing assets to beneficiaries as smoothly as possible.

As your partners in estate planning, Small Business Accounting & Tax, Inc. is committed to providing personalized solutions that reflect your unique situation. From drafting your first will to navigating the complexities of tax planning and probate, we’re here to support you and your family every step of the way, ensuring peace of mind for the future.