Estate planning is an essential step a person needs to take ensures his final property and health care wishes are honored. It is a legal document similar to a will and helps in safeguarding your loved ones’ future. A comprehensive estate planning is effective and resolves multiple legal questions that may arise after the person’s demise. Questions like financial affair state, real and personal property splits, the breakups and the family structure get answered. A person’s estates, by and large, comprise of real estate like housing and property, bank accounts, stocks, bonds and securities, life insurance policies and other tangible assets like automobiles, jewelry, and artwork! Irrespective of your age or property and other paraphernalia, a legal person can help you plan.
Who is an estate attorney?
An estate planning attorney is an experienced lawyer who has long years of education in the legal field along with clients and effective mentors. He has dealt with multiple cases with different levels of complexities. An experienced estate planning attorney like Walnut Creek estate planning attorney can explain all options available to a person in meeting one’s estate planning and goals along with the revision of an existing will or creating one from scratch.
The attorney also helps you understand and identify family members and other loved ones who will be the recipient of your property after your demise. This is followed by a proper transfer to those are identified thereby resolving all the legal hurdles quick. He will also minimize the property tax, which will be levied by the government upon demise along with the costs associated with the probate process by using estate planning devices. These include living trusts and ‘payable on death’ bank accounts. Additionally, funeral arrangements and death wish if any including related expenses to be paid can be integrated.
The role of an estate attorney
Estate planning does not begin and end with a will and testament. The attorney and his team are specialized in this field and draft living trusts, strategies plans to mitigate or reduce taxes and work effectively to ensure that your life’s savings and assets are safe. They also ensure that the assets and savings go to your beneficiaries only after your demise. He has the authority to create health care directives along with arranging and nominating people to take care of your affairs in case you become mentally challenged. The attorney and his team are also capable of helping you avoid guardianship or conservatorship issues in case the needed arises.
What to look for when hiring a firm?
You need to do your background check before opting for a law firm. A general practitioner may not be your best match as he might lack the specialized knowledge required. Opt for firms that have an experience in this domain like Walnut Creek estate planning attorneys who are expert in this field. While interacting with your planner you need to be comfortable enough to share your life’s details such that the plan does not fall short of your demands and needs. Likewise, your attorney should also be well versed in and up to date with the laws of your state.