McReynolds & Tye, P.C.


Estate Planning

Estate planning is the process of arranging for the transfer of a person's estate in the most cost-effective manner, considering the specific needs of the family, nature and amount of assets, and taxes. Estate planning normally begins with an assessment of the client's family relationships, personal goals, and assets. After the client has selected the most appropriate planning techniques, legal documents are prepared that will implement the estate plan.

We provide services to implement the following estate planning techniques:

Last Will and Testament

  • Basic Last Will and Testament
  • Complex Last Will and Testament (with estate tax planning, testamentary trusts, or complex beneficiary designations)
  • Credit Shelter Trust ("By-Pass Trust")
  • QTIP Trust ("Qualified Terminable Interest Property Trust")
  • Generation-Skipping Trust

Revocable Management Trust ("Living Trust")
(With and without estate tax planning, QTIP, and/or generation-skipping provisions)

Advance Directives For Financial and Medical Needs

  • Statutory Durable Power of Attorney
  • Medical Power of Attorney
  • Directive To Physicians and Surrogates or Family
  • Declaration of Anatomical Gift
  • Declaration of Guardian in the Event of Future Need

Life Insurance Trusts

  • Irrevocable Life Insurance Trust
  • Revocable Life Insurance Trust

Trusts for Minors or Incapacitated Persons

  • Section 142 Trust (management trust for lawsuit damages awarded to a minor)
  • Section 867 Trust (management trust used in lieu of a guardianship of the estate)
  • Section 2503(c) Trust For Minors ("Grandchildren's Trust")
  • Medicaid Qualifying Trust ("Miller Trust" and "Supplemental Needs Trust")

Marital Property Agreements

  • Community Property Survivorship Agreement
  • Premarital Agreement
  • Marital Property Agreement

Charitable Giving Methods

  • Charitable Remainder Trust
  • Charitable Lead Trust
  • Fully Charitable Trust
  • Private Foundation ("Family Foundation")
  • Gift of Remainder in Residence or Farm

Planning to Avoid Probate

Qualified Personal Residence Trust

Family Limited Partnership

Preparation of Federal Gift Tax Return (IRS Form 709)

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