The will and estate planning are interrelated with each other. Because the type of estate trust completely depends on the formulation of the will. While planning any estate before the estate attorney, the primary step is to compose the will and relocate the monetary distribution in that will. The process of this type of asset planning requires the person who wants to plan his estate, his descendant, the estate-planning attorney and most crucial his will. In the primary stage of the legal planning, the estate-planning attorney communicates and confirms the whole background of that person. While analyzing his character, the attorney understands the monitory condition of that person, his monitory assets, real estate and private estate. Also the attorney make clear the clients aspirations about his family members and also gets information about the necessities of client’s adorning family members after the death of the client.
Also one of the vital parts of the will and estate planning, the attorney elucidate from the client about his goals and future aspirations about the estate and also reveals about the health related desires from the client. Before making the will and estate trust, the attorney will display and describe various alternatives, which is obtainable to the client. He assures the client that such asset protection planning will work thoroughly with you and it is a perfect match for future expectations of the client towards his family members after his death.
The suggested estate protection by the attorney is completely in reference to terms and conditions in the will and in accordance with the desires of the clients about his wealth. So while making the will and estate plan, the attorney mostly gives emphasis to the monitorial security of the client’s family after his death, secondly more weight age on the equal distribution of the wealth as it is mentioned by the person in the will and thirdly physical requirements of client and his family members. While making the will and estate plan, the attorney mentions some rules, regulation, and strategy to save the estate. He suggests some precautionary measures to put aside the family members from financial problems like taxes, family budget and other household expenditure. After giving suggestions, guidelines and confirming all the requirements of the client for will and estate, finally he will carry out all essential living trusts documents, papers of will, documents of powers of attorney and testamentary trusts. Also in some cases, the attorney himself consults with expert accountant or tax consultant to secure the client from allegation of negative tax.
Consulting An Elder Law Expert Makes Estate Planning Simple
It can be difficult to watch our parents’ age, especially if they struggle for years with poor health or mental deterioration. Children find themselves in the role of caregivers sometimes gradually, sometimes suddenly and concerns about the day to day health and financial well-being of their loved ones become paramount. Caring for parents and worrying about their finances can be challenging, but the sooner a family can speak with an aging parent or relative about their plans for care (and the type of long term care they can afford, if needed), the better. Knowing their wishes will help you advocate on their behalf; ensuring they work under the guidance of estate planning attorneys will eliminate uncertainty when the time comes to divide assets.
When Your Family May Need The Services Of Estate Planning Attorneys
If your loved one wrote a will but there is uncertainty about whether it is valid, speaking with an elder law expert can help clarify the next steps. While laws vary from state to state, there are generally few reasons why a document of their final wishes may be considered invalid. Firstly, if it is not signed in accordance with state laws it may be considered invalid. For example, some states require that the testator have two witnesses in the room at the time the will is signed. Another reason a person may wish to consult estate planning attorneys is if a loved one may not have been of sound mind at the time the will was signed. Thirdly, if there is cause to believe a loved one was unduly influenced or pressured to write, change, or forced to sign a will against their wishes, it may be contested. And finally, if there are suspicions the document may be fraudulent that is, if a person was tricked into signing and it can be proven certainly contact estate attorneys at the earliest opportunity.
How Estate Attorneys Can Help In Kaysville Utah
When someone believes a will is incorrect or invalid, they may hire estate attorneys in Kaysville Utah to review the documents and decide on next steps. An attorney can help determine whether there are grounds to dispute the validity of the document, and can advise on the legal process and costs involved. In many cases, the cost of contesting may be prohibitive, or not worth the time and effort. If you have a strong case, estate attorneys can help you file the dispute and represent you by presenting your case in court. It is important to know in advance that the burden of proof will rest upon you. Before you meet with an attorney, make sure you are clear about your reasons for contesting the document and gather your evidence (which may include financial statements, previous wills, letters, or witnesses).
Get To Know The Law And Plan Ahead To Minimize Family Disagreements
You can reduce the stress of what will already be a challenging time for your family when a loved one dies by planning ahead. Help your elderly loved ones with end of life planning while they are of sound mind; while it may seem a delicate topic, it can be an enormous relief for an elderly person to have everything planned so they don’t need to worry. Meeting with estate planning attorneys when your elderly relative is well is a great idea, and will make the process of decision making about the estate much simpler. Avoiding disputes down the road by simple planning makes good sense, and can also help you avoid costly lawsuits later and in some cases, devastating disagreements that can leave families hurt, angry, disappointed, and unable to mend their relationships after a loss.
The Role of an Estate Planning Lawyer Kaysville Utah
How do you protect your assets and independence during your lifetime as well as clearly guide and protect your family after your death? Consult an Estate Planning Lawyer. It is important to consult with an estate planning attorney to ensure you not only have a plan established, but that your plan is valid and recognized under the current state laws.
An estate planning lawyer will help establish a power of attorney, living trust, and a health care proxy to protect you in your living years. The attorney will also work with you to establish a will and/or testamentary provisions within your living trust to protect those you leave behind. These measures can prevent your property from being distributed according to the provisions of Massachusetts intestacy statutes. Consequently, if these statutes are controlling your situation it means you have lost control over who receives your assets and who is appointed your children’s’ guardians.
Power of Attorney
The Power of Attorney is a legal document which authorizes another person to manage your financial affairs.
There are two types of powers of attorney. The first is a general durable power of attorney which gives power to another person known as an “attorney-in-fact” immediately. The second is a springing power of attorney which gives power to another person known as an “attorney-in-fact” only at the time which you have suffered a physical or mental incapacity. By having a power attorney drafted by an estate planning lawyer you can avoid the frustration, delay, and costly conservatorship process should you become incapacitated. The conservatorship process ultimately requires a judge to appoint a conservator who may in fact be a complete stranger to the family.
Health Care Proxy
The Health Care Proxy allows an adult to appoint another adult to make medical decisions should they not be able to in the future. This power includes the ability to decide if life sustaining measures should be taken.
By having a health care proxy drafted by an estate planning lawyer you can avoid the frustration, delay, and costly guardianship process should you become incapacitated.
Living Will
The living will needs express his or her desires regarding the use of extraordinary measures to extend his or her life when there is no reasonable expectation that he or she will regain consciousness.
Last Will and Testament
The Last Will and Testament is a tool that allows one to bequeath assets to specific individuals and/or entities, name guardians for your minor children and potentially prevents your property and children from being distributed under the state’s default intestacy statutes. Unfortunately, many Massachusetts residents are unaware that the Last Will and Testament can neither prevent the expense, delay, and publicity of a probate preceding nor can the Will override a beneficiary designation on a life insurance policy, retirement plan, or a joint form of ownership. Therefore, the estate planner should be aware of all retirement plan beneficiaries, insurance policy beneficiaries, joint accounts and review whether a living trust should be drafted in addition to the Last Will and Testament.
Issues To Be Addressed During Estate Planning
Estate planning requires the support and advice of an experienced estate planning attorney, to help with the processing of a person’s effects, including property, wealth, and even intellectual and non-tangible property. Once a person has chosen the estate planning attorney that suits one best, here are the issues that they need to discuss and address.
1. Asset Distribution: the most common document for asset distribution is the will. It is a legalized document which clearly states how a person’s assets will be divided among the heirs, in event of the owner’s death. An estate planning attorney makes sure that the will one designed consists of all the important aspects of distribution to avoid any disgruntled feelings among the survivors.
2. Asset Management for the Surviving Spouse and Others: in the will, designed with constant advice and legal counsel, the estate planning attorney may suggest forming a trust. This trust will hold one’s assets for the particular named person, say one’s spouse, and provide for them. Establishing a trust will also help decrease the tax burden on the survivors.
3. Guardianship of Dependents: the will can also help in ensuring the sustenance of any dependents, including minors, relatives with special needs, or mental or physical illness. In the will, a guardian can be assigned who will be entrusted with the responsibility of looking after one’s dependents. In the case of minors, this responsibility can be entrusted on the guardian till the children reach legal maturity. Appointed of a guardian should be done post discussion and counsel with the person one wish should take up the responsibility.
4. Charitable Giving: in the will, one can also designate assets they want should be given away to charity. Legal and tax counsel is important to ensure the gift is accepted and assigned as per the instructions in the will. Charity gifts include endowment, life insurance, property, financial accounts, stocks and shares, trusts and IRAs.
5. Healthcare Decisions: one of the most important issues that an estate planning attorney can help one with. This can involve everything, from medical procedures that one does not want, to whether one wants to be cremated or buried. Most of these decisions are taken considering the uncertainty of life, and how one may not be in a position to make decisions about how one want to be cared for. These advance directives are put down in a legal document, which is called the Living Will.
6. Power of attorney: this legal document puts a person in charge of making the decisions in one’s absence. Specific powers of attorney, like healthcare, financial, etc. can also be assigned to make sure not one person is burdened, or someone with specialized knowledge handles one’s assets after death. This is will help in solving any power struggles that the survivors may have. Power of attorney can also be mentioned in the Living Will, to entrust one responsible, most trusted person with complete authority over any decisions that may be required to be made.
Free Initial Consultation with Lawyer
It’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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