What is estate planning?
Estate planning involves setting up a person’s collection of assets. In case the person passes away or is incapacitated, the estate plan sets out how the assets are distributed to the heirs and how the estate taxes must be paid off. An experienced lawyer can help make this happen.
Do you need an estate plan?
When someone dies without a will or estate plan, the state transfers the deceased’s assets to his closest relatives. The state must also decide where the deceased’s children will be sent off to live, if the other parent proves unsuitable or in the event that both parents perished.
Should you hire a lawyer?
If you don’t own a lot of assets or your finances are easy to manage, then you can probably get this done on your own. However, if you have extensive assets—trusts, several insurance policies, properties and more—then it would be better to hire a Mineral Ridge Estate Planning lawyer to help you.
What can a lawyer do for you?
Estate planning is complex. A single missing signature or phrase could make things legally difficult for your heirs or surviving family. A lawyer can help you establish a power of attorney and create an estate plan that’s compliant with state and federal laws, eliminates or reduces estate tax, protects the guardianship of your estate for your heirs and ensure the property is passed onto your heirs in the manner you wish, among a number of things.
So if you want to make sure your heirs or family members are financially secure and protected in the future, that your assets are distributed according to your will and that your heirs suffer no legal problems, get legal assistance and support. Hire a lawyer to help you put together an estate plan today.