Russell Law specializes in estate planning and administration, with a focus on Philadelphia and its surrounding counties, as well as the New Jersey area.
The Trusts and Estates practice of Russell Law focuses on the following areas:
Basic and Advanced Estate Planning
Regardless of the size of an estate or a client’s family situation, every individual requires a basic estate plan which is typically comprised of the following three documents: (1) an advanced health care directive (living will and medical power of attorney); (2) a durable power of attorney; and (3) a Will or possibly a Will and Revocable Trust combination. Once a basic plan is in place, a client’s needs may require more advanced planning, depending on the size of the estate, the types of assets in the estate or the client’s family situation. These needs are assessed and the appropriate estate planning tool is utilized, which may include trusts (irrevocable or revocable), Family Limited Partnerships (geared towards business succession), Family Charitable Foundations, as well as other estate planning tools.
Business Succession Planning
Critical to the continued success of a business are the transition plans of its owners. Whether those plans include transfers between owners or between the owners’ families, important planning must take place to insure the continued viability of the business entity.
Once the proper plan is in place for a client, we help to administer and execute it effectively. Our firm assists the executors and trustees of the estate in understanding and fulfilling their responsibilities with a full range of estate administration services.