Estates & Trusts
The example provided below is hypothetical and is only included to illustrate Farr, Miller & Washington’s understanding of and approach to the unique concerns of this particular client group. Please note there is a minimum account requirement for management by Farr, Miller & Washington.

Estate planning is often an uncomfortable subject for many families, encompassing a variety of unique issues and decisions. Distribution of assets, evaluation of wills and trusts, legal and tax implications are just a few of the issues that we try to guide our clients through in order to make the process a little easier. Farr, Miller & Washington encourages our clients to take action early in order to be prepared for the future. We work closely with the executors of trusts, helping to lay groundwork to accomplish long term objectives. We know first hand the difficulties clients face when their estates have not been well planned. For example:

Mr. Simon, a 65 year old client, recently lost his wife. She left him with a substantial amount of money. Unfortunately, Mr. Simon and his wife never discussed their individual assets and Mr. Simon was not prepared to tackle the details of his wife’s estate. The distribution of his wife’s assets to his children and grandchildren was a major source of concern for Mr. Simon.

Our approach to Mr. Simon’s concerns would be to review his plans, goals and objectives with our in-house trusts and estates attorney. Our attorney would help Mr. Simon recognize some of the key issues unique to his individual situation, from distribution of his assets and establishment of trusts to paying estate taxes to preservation and growth of his current wealth. We would take the burden of estate planning away from Mr. Simon while offering the solutions we believe most suitable for him and for his specific needs.