Estate Planning

When it comes to estate planning, it can be a tedious and confusing process. Many people are unsure when they need to consult a lawyer about their estate planning. However, it is useful for various reasons, including, but not limited to, solidifying a plan for loved ones, transferring property, avoiding probate, protecting assets, protecting the beneficiaries, communicating your wishes, and dictating how your assets and property are allocated. 

Estate planning essentially is the arrangement of steps and tasks that help manage an individual’s assets and liabilities in the event of their incapacitation or death. In order to avoid many of these problems in the future, our firm can help you be proactive by properly creating a plan for your estates and assets. A main focus will be on wills and trusts because it will be the first step in regards to your real estate planning. A will essentially transfers your property and gives directions for what to do with your property after death. A trust on the other hand transfers property to someone else while you are still alive. These property transfers are generally used with the transfer of homes, in which you are also given a title. A good indication if it is time to start estate planning is if you have children or loved ones you would want property to go to after death, however, everyone needs to consider if they need estate planning. 

A main reason why many people try to handle estate planning early is to avoid probate. Probate is a part of the court, which is put into use when the distribution of assets is not set in place. In this case, instead of an automatic transfer to the receiving party, the court decides who goes through the property and how it is allocated. This will also lead to a delay of anywhere from 6 months to several years, and an attorney will have to be involved as well, adding more legal fees. This process can be long and lead to having to handle more legal business while grieving. This is why proper estate planning is crucial in order to carry out your personal wishes. 

Overall, our firm wants to help you properly plan for the future in order to protect your property, your assets, and your family. Estate planning requires determining how your assets are distributed, handled, and preserved. Please give us a call to begin setting your estate plan up now.