Estate planning is the process of planning for what will happen to your assets and property after you die. It’s important to have a plan in place so that your family doesn’t have to go through an emotional time while also going through the difficult process of settling your estate.
Wealthy people may want specific types of trusts, such as living trusts, which can help them manage their finances without having to worry about who will take care of it when they are gone. They might also use wills or other estate-planning tools like powers-of-attorney and healthcare directives.
Although you may not need complex Estate Planning, it can be difficult for someone to understand the basics of estate planning without consulting with an attorney who specializes in this area. One wrong word or missing signature can change the entire intent of your documents. If you are concerned about your future, it may be time to consult an estate planning attorney. You don’t want to risk losing assets or creating issues for your family members because you didn’t have legal advice when needed
Yes! We are able to accomplish everything that is required remotely. This allows us to help you with your estate planning or asset protection needs regardless of your location.
The main difference is that a Will does not avoid probate, whereas a Living Trust enables you to avoid Probate for your estate after you pass on. A Living Trust may also allow your loved ones to manage and disburse your assets for your benefit when you are unable. A living trust can also allow you to provide protection for your beneficiaries upon your passing and allows you to address the special needs of family members who may have physical or mental disabilities or other personal issues which interfere with their ability to manage their own financial affairs. A Living Trust may also allow you to reduce or eliminate Federal Estate Taxes.
Asset Protection is proactive legal planning to protect your assets from lawsuits and creditor claims. The goal of Asset Protection is to employ techniques to limit creditors access to both your personal and business assets. The key to successful Asset Protection is planning before the need arises, you must be proactive. Common Asset Protection strategies include corporations, partnerships, trusts, and other various entities. Asset and Estate Law will assess your risk and tailor the proper plan for you and your business.
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