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In part, what does Estate Planning Attorney do? Estate planning, in essence, deals with assisting clients to ensure that their estate passes to their preferred beneficiaries in accordance to certain terms agreed upon by the client and the attorney. Estate planning can also include retirement planning, asset protection, and business succession planning as well. The various services of an estate planning attorney provides can be utilized for a wide range of family situations, from minor children to entire estates. In some instances, people who pass away without leaving a will also have the right to utilize services of an estate planning attorney to help them handle various financial affairs in their absence.An elder law attorney can help you establish a will, establish a trust, handle estate assets and inheritance taxes, and even deal with probate. It is also their responsibility to determine the validity of a will, to file motions to have any outstanding debts or other property settlement issues settled, prepare and file the necessary paperwork, draft a living will for an elder or a health care representative, and prepare estate tax statements and other documents. Additionally, they can assist in the preparation of final wills, trusts, and other estate planning documents. For minor children, an elder law attorney can also be consulted to determine who will get which assets should minor children pass away.A number of other situations that may call for the expertise of an estate planning attorney include changing minor children's names to adult names, executing a Will, creating or revising a durable power of attorney for a beneficiary, or making adjustments to a loan agreement. These legal documents are particularly important when minor children are not living in their own homes. For example, revising or altering a Will could aid someone who does not presently live in the home to obtain funds they would otherwise be unable to obtain. A durable power of attorney for health care can also help to protect a beneficiary's interests should the patient become ill or pass away.
What does Asset Protection Planning mean? Asset protection is how one guards their assets from anyone that filing a lawsuit against them for any reason. This includes creditors and even litigants filing lawsuits against you. The way that people protect their money is by having a will or trust set up to handle their assets in the event of their disability or death. This helps to protect your assets from creditors and other people that can come after you.There are many different types of protection plans available. Many times people use insurance policies or bank accounts to protect their assets. Using an estate planning attorney will help you set up a plan that fits your needs. Protecting your assets with a will can make sure that your final wishes are followed and that your last wishes are not ignored by others. An estate planning attorney can make sure that this will never happen and will have your wishes respected.Protecting your assets is a necessity when you take risks with your finances. You want to have some form of protection for your money, your home, and other important investments in case something happens to you. You want to be sure that you are protecting the assets that you have earned and that you are taking the necessary precautions to ensure that your family is taken care of in the event of your disability or death. Estate planning can be very helpful and is often overlooked. If you are in need of someone to help you protect your assets then an Asset Protection Attorney may be able to help you take the necessary precautions.
If you are considering a will or trust for your estate planning and protection, there are many good local, reputable, Wills and Trusts Attorney available to assist you in making the best possible decisions for your future, as well as those of your loved ones. Wills and Trusts attorneys are experienced in dealing with all types of estate planning scenarios, including personal will, trust, and power of attorney. Many attorneys offer free initial consultations where they sit down with qualified potential clients, hear them out, and then recommend an appropriate estate plan for their individual needs. The Attorneys generally charge no fees for this initial consultation; however, you may want to make sure that the Attorneys are board certified, since this certification is indicative of the professionals expertise and commitment to ensuring your best interests are protected.The very first thing the Attorneys do is file a legal Will with the courts. Once this is done, they begin to organize and document all of the person's assets, including: bank accounts, real property, cars, boats, planes, jewelry, antiques, personal belongings, household furnishings, and any other items that may be of value. They then take care of paying off all of the debts associated with the Wills and Trusts and devise a Will in accordance with state statues and laws. In cases where the person may have many Wills and Trusts, the Attorneys will also draft several Wills and Trusts to cover multiple beneficiaries.
It's never too early to start the process of planning out your estate. Whether you are in a probate state or you are preparing to transfer the ownership of a family business to your sister, a trust, or your children, it's important to take action as soon as possible. There are so many decisions to make when determining your legacy to your loved ones.Wills and Trusts Attorney's will work with you and your spouse to prepare your will and trust for the probate process and to notify beneficiaries of any changes. Wills and Trusts attorneys can also advise you of any outstanding probate issues that may come up during your estate planning situation. Probate can put a great burden on the Wills and Trusts Attorney and other beneficiaries of the estate. The most common issue that occurs is when a beneficiary does not receive all of the inheritance that the deceased owner had left. If this occurs, the Attorneys can take over the probate process and make sure everything gets resolved properly.
Click Here to Call Us:(919) 424-8277
8801 Fast Park Dr., Suite 301, Raleigh, North Carolina 27617