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.

Trust laws are a set of laws that provide legal oversight of both personal and real properties, entrusted for one person to another person or party. A trust is a set of rights regarding property and personal assets held or reserved between one party or individual and another party. A party may be an individual, a group of individuals or an organization.

Probate is the legal process that distributes allocated assets according to a valid will. A probate attorney is a legal representative that helps client(s) to establish a will or a living trust. Probate Attorneys in some cases may also oversee the administration of trusts and may provide legal protection to the deceased estate. Probate Attorneys are helpful in assisting clients in the preparation of legal documents such as a will or trusts by helping clients to cover all potential legal issues associated with probate.

There are two basic types of probate lawyers. The first type of probate lawyer is one that helps to oversee an estate as well as to represent the estate during legal action. The second type of probate lawyer is one that represents clients who dispute the legal validation of a will or trust or object to how property is distributed. When choosing a probate attorney or lawyer it is important to pick a lawyer or attorney that has experience in the needed area of law.

While most people do not wish to dwell upon their own deaths, it is prudent to consider the fact that everyone eventually dies. Providing a last will or living trust helps to ensure that a persons wishes are followed in regards to asset distribution, in avoiding or lessening taxation and directing medical care when incapacitation has occurred. Providing a will or trust will alleviate the burden that families will face when they have to deal with intestate succession. Finding a probate attorney or probate lawyer to help construct a will or trust can make dealing with the inevitable a great deal easier

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.

Estate planning lawyers are experienced in the formation of trusts. You can create a trust for the benefit of your family members and relatives. You can also transfer your assets to the trust for the benefit of your family members and relatives. An estate planning lawyer can prepare the documents necessary for the formation of the trust and can advice you on the right type of trust based on your circumstances. The estate planning attorney can also act as the administrator of the trust if you want him to.

Many of us are often worried that our creditors may seize our estate and as a result our legal heirs may not receive anything. Estate planning attorneys can help you in such a situation. An estate planning attorney knows the rules of asset protection. Asset protection is perfectly legal. Basically in asset protection, you transfer your chosen assets to another legal entity. The entity will hold the assets for the benefit of your family members and relatives. You can retain control over the legal entity. An experienced estate planning lawyer can review your circumstances and suggest the best possible asset planning strategy.