Estate Planning Services in South Dakota

Legal Insights to Secure a Prosperous Future for Your Family

Aspen Legacy Planning focuses on estate and business planning, probate, trust administration, and elder law in western South Dakota. Since his introduction into law 30 years ago, Principal Attorney Stephen Wesolick has been there to help his clients obtain the future they want for their families. Our team takes a personalized, results-driven approach to ensure your needs are met and your loved ones receive that to which they are entitled.

Complete Care for Your Family’s Assets 

Using InterActive Legal (ILS), Aspen Legacy Planning is able to provide faster, more comprehensive estate planning for our clients. With an up-to-date understanding of modern laws on the subject, we can help you make the best use of your available legal options to preserve your family’s property for generations. 

We have worked hard to ensure that our firm is different than most because we have a passion for this work and feel there is a gap in most families’ plans. While many firms mainly address “after death” issues—leaving families vulnerable when the unexpected happens “during life”—we help families effectively plan their estate and leave a meaningful legacy. 

When clients come to us, they entrust us with their families, fortunes (family, business, wealth, values, memories, or any other good fortune), and futures, and we take that responsibility very seriously.

Estate Planning Services We Offer in South Dakota

At Aspen Legacy Planning, we provide a comprehensive range of estate planning services to help our clients in South Dakota plan for their future with confidence.

Our experienced estate planning attorneys work closely with clients to understand their unique needs and develop customized solutions that meet their goals and objectives. 

We provide a wide range of services, including:

• Drafting Wills 
• Drafting Trusts
• Asset protection
• Business Succession Planning
• Trust & Estate Administration
• Power of Attorney
• Probate Administration
• Transfer-on-Death Deeds

We understand that estate planning can be a complex and emotional process, which is why we take a compassionate and personalized approach to every case. Our attorneys are dedicated to helping our clients navigate the legal complexities of estate planning while providing peace of mind and security for themselves and their loved ones.

If you're looking for a reliable and trustworthy estate planning attorney in South Dakota, contact us today to schedule a consultation. We're here to help you plan for your future and ensure that your legacy is protected for generations to come.

Keys to a Successful Relationship: What You Can Expect

With Aspen Legacy Planning, you can trust that we will consistently and responsibly perform all requested services and remain available when you need us.

As your attorneys, we will:

• Treat you with respect, honesty, and dignity
• Act as your attorney and counselor, putting your interests first
• Strive to acquire a complete and accurate understanding of your concerns, needs, and circumstances to help you plan appropriately for your legacy
• Explain the implications and strategies we identify
• Update you by e-mail, mail, and phone
• Give you a clear schedule and budget for the completion of the steps involved in your estate plan

What Are the 5 Components of Estate Planning in South Dakota? 

The five components of estate planning include creating a will, setting up trusts, managing life insurance policies, managing your digital assets, and minimizing taxes. 

• Creating a Will: A will allows you to determine who will receive your assets after death. It can also be used to name guardians for minor children and to appoint an executor to oversee the probate of your estate.
• Setting up Trusts: Trusts can be used to manage assets during life or after death, and they provide a way for you to pass on wealth without having it go through probate court. Trusts also can protect assets from creditors and reduce taxes.
• Life Insurance Policies: Life insurance can provide a death benefit to your beneficiaries, as well as provide cash value that can be invested for retirement or used to pay estate taxes.
• Managing Digital Assets: Digital assets include anything from online bank accounts and social media profiles to digital music or photos. It's important to make sure these assets are properly managed so they don't end up in the wrong hands.
• Minimizing Taxes: There are a variety of strategies that can be used to minimize taxes, including gifting assets, setting up trusts, and taking advantage of tax exemptions and deductions. 

By taking the proper steps, you can create an estate plan that ensures your assets are distributed according to your wishes, protects them from creditors, and minimizes taxes for you and your beneficiaries. A comprehensive estate plan is a crucial component of any financial plan.

Benefits of Having an Estate Plan in South Dakota 

Having an estate plan in South Dakota offers several advantages:

• Comprehensive Statutory Scheme: South Dakota has a comprehensive statutory scheme around its trust laws that promote grantor sovereignty, meaning the grantor's wishes are prioritized.
• Tax Benefits: South Dakota has no state income tax, no capital gains tax, and no estate tax. These tax benefits, combined with the federal estate tax exemption, can be advantageous for large estates.
• Asset Protection: Estate planning allows you to organize, manage, and pass down your wealth in a structured way. It can also protect your assets from potential future liabilities.
• Speedy Probate Process: Having a will undoubtedly simplifies the distribution of your property and helps speed up the probate process because your wishes are already outlined.

Peace of Mind: Estate planning primarily benefits your family, but it also gives you peace of mind, knowing that you have done everything you can to provide for their future.

Financial Planning: Estate planning is a part of your overall financial plan because it involves the coordination of all your properties.

Keys to a Successful Relationship: What I Can Expect

Effective communication and mutual respect are essential to a successful relationship.

From our clients, we expect:

• Trust
• Respect
• Honesty
• Complete disclosure
• Sincerity
• Commitment

How Aspen Legacy Planning Can Help 

We expect you to understand that our recommendations are always based on your best interest. As our client, all legal advice and strategies will be based on the information you provide. We expect you to participate enthusiastically in the Forward Development Process (FDP).