Four Important Tasks an Estate Planning Attorney Will Do
Planning your estate can be a stressful process. You may come across several challenges as you navigate the legalities that must be dealt with such as delegating power of attorney and creating a will of trust. But, you can save both money and time as well as ensure everything is done correctly if you work with a reputable law firm such as Weisinger Law Firm. The firm has experienced attorneys dedicated to helping clients deal with the estate planning process with ease and precision.
Great estate planning lawyers have years of experience in managing estate planning matters. Having the right help when making plans for your property and finances will ensure the financial security of your family and avoid future issues especially if you won’t be there to handle matters on your own. Keep reading to know what your estate planning attorney will do for you:
Explain Your Intentions
Disputes may arise and when this happens, you may no longer be there to voice out your side of the story or make important decisions for your family, beneficiaries, or heirs. While you are still alive, you can discuss important matters with your lawyer especially those related to your will. Your lawyer will let the people you leave behind know your intentions when you are not there to do this yourself.
Offer Expert Guidance on Tax Matters
Federal taxes imposed on estates tend to change often and have become more complicated than ever. It is important to plan carefully to realize the possible tax savings that you can achieve by understanding the available options to decrease estate taxes.
Create an Estate Plan that Addresses Changes in Family Relationships and Situations
Family events such as births, deaths, divorce, marriage, and incapacity can change a person’s life and the disposition of an estate. Your estate planning attorney will help you come up with a proper estate plan that addresses these changes and family situations.
Plan for Special Needs
Parents who have children with special needs or anybody who wants to leave assets to a child with special needs need specialized trust planning to avoid risking the child’s public benefits. An estate planning lawyer can prepare a supplemental needs trust for this child.
Prepare Estate Administration
Usually, an estate planning lawyer represents the trustees or executors in estate administration. This can benefit you since the lawyer is familiar with your assets, family issues, and other factors that may ensure assets can be quickly administered.