An estate planning attorney helps and guides you in choosing the correct options for maintaining your estate after death or in the event of disability. An experienced attorney seeks to fully understand your wishes and goals regarding the maintenance of your estate and other property and suggests ways to achieve those wishes. Goals differ from person to person. While some people may want to involve their children and family in maintaining their estate, others do not.
You may want to distribute your wealth and property in a specific way, but you don’t know the best way to do it. A qualified estate planning attorney can not only describe the various options available, but also see that your wishes are carried out in accordance with the law. Your estate plan must meet state guidelines to avoid future problems and expenses.
Functions of the Estate Planning Lawyer
Here are some of the ways that an estate planning attorney can help:
- Prepare a legally complete power of attorney for property.
- Plan to eliminate or reduce the estate tax.
- Make a will and assist manage the probate procedure with or without the will.
- Form a living trust for avoiding probate and let asset management as it was of disability.
- Assists avoid custody of the assets of disabled people or minors.
- Pass the property on to your loved ones the way you want.
- Make sure your property is adequately protected from the creditors and predators of your heirs.
Help put your brokerage accounts, retirement plans, insurance policies, business and partnership interests, debts, and personal property in trusts or business entities.
Create irrevocable trusts or other special types of trusts.
Experienced barr& young attorneys can help ensure the smooth and ongoing management of your estate and, more importantly, ensure that your wishes are followed. Estate planning attorneys often charge a flat fee to help you draft binding legal documents, such as wills and durable powers of attorney.
An estate planning attorney can be used to guide anyone with a power of attorney over a recently deceased person’s estate through the probate court process. In fact, a good efficient attorney can help you avoid probate court entirely, but that largely depends on the type of assets in the deceased’s estate and how they are legally allowed to transfer.