Estate Planning, Wills, Trusts, Powers of Attorney, Living Wills

Overview

The lawyers at Gray, Thompson & Associates are prepared to assist you develop your estate plan. They dedicate time to get to know you by understanding your family, thoroughly reviewing asset information, and providing recommendations for the best way to achieve your planning goals. Our attorneys can assist you with advanced and customized planning designed for blended families, family business succession, and high net worth individuals with prospective federal estate tax liability.

Services

  • Will and Revocable Living Trust consultation and drafting
  • Powers of attorney (financial and health care)
  • Living Wills
  • Prenuptial and antenuptial agreements
  • Irrevocable trusts and Life Insurance Trust (ILIT) consultation and drafting
  • Advice and assistance regarding:
    • joint tenancy, payable on death or transfer on death clauses and beneficiary designations;
    • title to real estate;
    • Federal estate tax and Iowa inheritance tax liability;
    • electing portability (deceased spouse's unused exemption); and,
    • disclaimers.

Representative Client

  • Individuals and families with "ordinary" needs (e.g. with children)
  • High net worth individuals
  • Closely held corporations of any size

Cases and Transactions

  • We have prepared estate plans capable of saving our clients millions of dollars in federal estate taxes, using both time-honored methods and state-of-the-art tactics.
  • We have minimized the income tax consequences normally encountered when a person dies owning significant pension, 401(k), IRA, or similar assets by stretching the distributions over many years or even decades.