Facts about Estate Planning

Spotlight on Estate Planning

January, 2009

Inheritance Rights Inheritance is a very complicated legal proceedure. Laws vary from state to state, notwithstanding any specific federal tax implications. Having a valid will in place helps to avoid problems typically associated with probate. There are a number of other methods available to minimize the financial obligations you might encure through an inheritance. More>> If you are seeking legal help regarding financial planning for the future, contact an estate planning lawyer in your area today.

Estate planning is the process by which an individual, or nuclear family with the person's consent and approval, arranges the transfer of assets to heirs or other beneficiaries. The reason for this is to provide the family, or anonymous miscellaneous beneficiaries, with legal rights to the property after the individual has passed away.

Aspects of Estate Planning include:

• Trusts
• Wills
• Uniform Probate Code
• Gift Tax
• Dynasty Trust
• Joint Tenancy

A good Estate Planning lawyer can do more than just manufacture a simple will. Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure that your wishes regarding which items are allocated and who the main beneficiaries are.

Many trusts are created as an alternative to or in conjunction with a will and other elements of estate planning. State law establishes the framework for determining the validity and limits for both.

An Estate Planner can assist you with organizing your personal and business records such as:

• Brokerage Accounts
• Retirement Plans
• Savings and Checking Accounts
• Insurance Policies
• Business and Partnership Interests
• Debt Personal Property

An Estate Planner can also assist all other possible estate planning law concerns.

If you are in need of an estate planning lawyer with solid experience in wills & estate planning, contact us. Let us help you with your legal concerns.