Omaha Estate Planning - Resources

Omaha Estate Planning

Introduction to Omaha Estate Planning

As part of Small Business Accounting & Tax, Inc., a trusted firm based in Omaha, Nebraska, we understand that estate planning is an integral part of financial management. Whether for individuals or small businesses, having a comprehensive estate plan in place is crucial for ensuring long-term success and peace of mind. In this article, we will delve into various aspects of estate planning, from wills and trusts to elder law considerations.

Wills and Trusts

Creating a Will: A will is a foundational document in estate planning. It dictates how your assets will be distributed upon your death. Without a will, your estate may not be distributed according to your wishes.

Establishing Trusts: Trusts are versatile instruments that can help manage your assets during your lifetime and beyond. They offer privacy, can reduce estate taxes, and avoid the probate process.

Power of Attorney Documents

Designating a power of attorney is a critical step in ensuring that your financial affairs can be managed in the event you become incapacitated. This document allows you to appoint someone you trust to make decisions on your behalf.

Estate Tax Planning

Estate tax planning is essential for minimizing the taxes your estate might owe upon your death. By leveraging gifting strategies, trusts, and other methods, we work to preserve as much of your estate as possible for your beneficiaries.

Asset Protection Strategies

Protecting your assets from creditors, lawsuits, and other threats is a proactive step in estate planning. Through the creation of certain types of trusts and business entities, we can help shield your assets from potential risks.

Guardianship and Conservatorship

Appointing a guardian or conservator is crucial in planning for the unexpected. This ensures that your loved ones, particularly minors or those unable to care for themselves, are looked after by someone you trust.

Healthcare Directives

Living Wills and Advance Directives: These documents specify your preferences for medical treatment in case you can't communicate your wishes. They are essential for all adults, regardless of health status.

Charitable Giving

Incorporating charitable giving into your estate plan can reduce your taxable estate while supporting causes that matter to you. Various strategies can be employed to maximize the impact of your gifts.

Business Succession Planning

For small business owners, planning for the eventual transfer of your business is critical. A clear succession plan can ensure a smooth transition and help maintain the business's viability for the future.

Probate Process and Administration

The probate process can be complex and time-consuming. Understanding how your estate will be handled through probate is essential in planning and can lead to strategies that might minimize the estate's exposure to probate.

Special Needs Planning

Creating a plan for loved ones with special needs ensures they are cared for without jeopardizing their eligibility for government benefits. Special Needs Trusts are a common tool used in these situations.

Trust Administration Procedures

Proper administration of trusts is vital to ensure they function as intended. This includes managing assets, filing taxes, and distributing assets to beneficiaries according to the terms of the trust.

Elder Law Considerations

Elder law addresses issues such as long-term care planning, guardianships, and Medicaid planning. As people age, these considerations become increasingly important in estate planning.

Medicaid Planning

Proper Medicaid planning can help protect your assets while ensuring eligibility for long-term care benefits. Strategies might include the use of certain trusts or other legal tools.

Estate Planning for Blended Families

Blended families may face unique challenges in estate planning. Ensuring that assets are distributed according to your wishes, while also considering the dynamics of a blended family, requires careful planning and clear documentation.


At Small Business Accounting & Tax, Inc., we are committed to helping our clients in Omaha navigate the complexities of estate planning. By focusing on personalized solutions that align with our clients' unique situations, we aim to secure their financial futures and provide peace of mind. Whether you're just starting the estate planning process or looking to update an existing plan, our team is here to guide you every step of the way.

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