Protecting Your Assets, Heirs And Desires
Wills and estates law deals with how an individual or couple plans for the future – and, conversely, with the ways that an individual’s family did not plan for the future. When someone contacts a law firm for wills and estates representation, it’s essentially for one of two fundamental reasons:
- To arrange a will, a trust, or another estate planning tool(s) to protect one’s assets for children and other beneficiaries
- To get help when someone else’s will and/or estate is not “in order,” leaving behind problems for children/beneficiaries
Planning Well Into The Future
Although many people are reluctant to think about their death and its aftermath, they often find great reassurance and peace of mind when they obtain the help of a wills and estates attorney. These legal professionals know all of the details of the complex state, federal and even international laws that pertain to the settlement of a person or couple’s assets and liabilities, and they’re ready to step in when a contested will or another problem is encountered.
Wills and estate attorneys protect the interests of their clients by a number of means, including, for example:
- Writing wills that clearly define their clients’ wishes, leaving no room for confusion or disputes about how and to whom the clients want their property and other assets to go to
- Creating trusts or other tools that protect assets and their transfer to beneficiaries
- Avoiding the lengthy, costly process of probate
- Minimizing the portion of an estate that goes to the government
- Obtaining powers of attorney and naming an executor to appoint the desired person(s) to make decisions
- Planning for a funeral, donation of organs and charitable contributions
- Protecting hard-earned savings
Estate Planning Benefits – Not Just For The Wealthy
Anyone with any level of assets will benefit from estate planning. When someone passes away without having made a will, trust or another instrument (that is, without planning what to do with an estate), their estate (no matter how modest or magnificent) will be dealt with by state probate laws, which are not necessarily in accord with how that person would wish. The benefits of estate planning are many. When you work with an experienced and skillful wills and estates law firm, you can be confident that you will be able to:
- Choose the executor(s) or trustee(s) who will handle your estate after you’re gone
- Provide for your immediate family – e.g., for your surviving spouse and children’s future
- Minimize the cost of transferring your assets to the beneficiaries you’ve designated
- Get your property to beneficiaries quickly
- Reduce the taxes on your estate
- Help ensure that your business continues to prosper after your passing
- Help a favorite charitable cause
- Plan for the possibility of becoming mentally and/or physically incapacitated – with, e.g., a durable health care power of attorney
- Describe your wishes regarding your burial and funeral
These goals and many more are clearly attainable with the assistance of a wills and estates law firm.