Hiring a good estate planning attorney is one of the most important things that you can do for your family. It can save you money and protect your wishes in case of incapacitation or death. It also ensures that your loved ones don’t have to go through probate, which can be very expensive and can lead to family conflicts.
An experienced estate planning lawyer can help you prepare a complete estate plan and minimize or even avoid the need for your family to undergo probate after your death. They can also help you create a trust to save on taxes, manage your assets and protect your family’s privacy. They can also help you make tax-efficient transfers and gifts, as well as handle other types of estate issues, such as planning for a disabled beneficiary or protecting a spouse’s rights after remarriage.
The estate planning process is complex and involves creating a variety of legal documents. These include a will, living will and medical power of attorney. The attorney will also consider your financial goals and determine how to distribute your assets. They will also take into account your family relationships and charitable inclinations. In addition, they will consider the impact of federal and state estate, gift and generation skipping transfer tax laws on your estate planning goals.
A good estate planning lawyer will guide you through the process of naming trustees and beneficiaries and establishing the proper form of property ownership (joint tenancy with rights of survivorship, tenancy in common, or tenancy by the entirety). They will also advise you about the advantages of using trusts to transfer property to children, and the benefits of setting up disability trusts for beneficiaries who qualify for public assistance.
They will discuss your preferences for the care of minor children and other dependents, as well as any special needs beneficiaries you want to provide for. They will also advise you about the appropriate amount of life insurance and other protections to establish. They will also discuss the best way to make gifts and provide for charitable giving.
The attorney will review all of your documents and answer any questions that you may have. Then, they will draft a complete estate plan and help you execute it. They will also assist you with filing all necessary estate and gift tax returns. They will also ensure that all of your estate planning documents are properly executed.
Davis & Associates Attorneys at Law provides guidance on reducing exposure to trust, estate and inheritance taxes. They can help you avoid paying unnecessary taxes, while ensuring that the assets you have worked so hard to obtain are passed on in the manner you desire.
They focus on creating estate plans that are tailored to each client’s unique situation. They offer a free initial consultation to discuss your desires, goals and circumstances. They will also assist you with creating a medical and durable power of attorney. They are a trusted resource for clients and offer friendly, personalized service throughout the process.