Category Archives: Estates

Trust Estates

Estate Planning is the management of someone’s assets or belongings while the person is still living. Estate Planning also provides for an organized distribution of assets after the death of a person. Estate planning provides the management and administration of the distribution of property and personal assets.

There are three levels of estate planning: A will, a living trust and intestate succession. A will provides direction and is a statement of command in the voice of the deceased that dictates asset allocation. A living trust is a form of estate planning that helps to manage the assets of a person who is still alive. A living trust provides clear instruction about end of life medical care, distribution of assets, etc. in the case of incapacitation. Living trusts are usually revocable. An intestate succession occurs when there is no will or living trust and the state must then decide how to distribute assets. Intestate successions are avoidable by using probate lawyers to create a will or living trust.

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Estate Planning Lawyers

Estate planning lawyers can play a big role in ensuring that your estate is distributed according to your wishes. An estate planning lawyer can ensure that your heirs do not have to pay estate taxes on their inheritance.

If you are making a will, you should hire the services of an experienced estate planning attorney. Estate planning attorneys know the requirements of a valid will. If your will is not valid, then your estate must pass through probate which can be time consuming and costly. Also when your estate goes through probate, your estate will be distributed according to the state laws and not according to your wishes. So someone to whom you did not want to give any share in your estate may end up getting a huge share or someone to whom you wanted to give a large share of your estate might not receive any share at law. To avoid such things happening after you are no more, you should hire the services of an experienced estate planning attorney. The estate planning attorney can also act as the executor of your will if you want him to.

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