Overbey, Hawkins and Wright has been engaged in estate planning for its entire existence. Judge Overbey drew wills for his clients during the Great Depression in the 1930’s. In 1972, David Hawkins began planning estates for clients under the supervision of Judge Overbey. Although trial practice constitutes a major part of the modern practice at the firm, our attorneys have not forgotten our roots.
Today, we have attorneys who are educated and experienced in the field of wills and estate planning. Our attorneys will explain what issues you should consider when preparing an estate succession plan. We will make sure that you consider all of the alternatives and advise you on how to plan for every contingency that fits your situation.
Estate and gift tax planning is essential for many clients. We have attorneys who have instructed tax courses at the graduate level who can guide you through the glorious complexities of the tax code and make sure that your estate passes to your family, not to the government. Our lawyers will teach you the intricacies of the law so that you understand why you need to do what is recommend for your particular circumstances. Planning is pivotal to ensure that your estate is taken care of and not subject to potentially massive estate tax consequences.
Our Lawyers can recommend:
It is also essential if you have young children and you want to ensure they are taken care of in your absence. It is always a good idea to purchase sufficient life insurance to replace your income after you are gone. That usually means 10 times your annual income. So if you make $50,000 per year, you should have at least $500,000 in life insurance. That way, if you have three kids ages 10, 8, and 6, then your income will last at least until your youngest is 16. It will probably last longer than 10 years because there are no income taxes on that $500,000 and if a portion of it is invested wisely, you could earn money on your money over that ten year period. While life insurance passes outside of your estate and your Will, it is essential to a complete estate plan designed to provide for your family.
If you need help with a simple will or a complex estate, our attorneys can help.
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