Without a proper estate plan, you have no control over where your assets will go and who will manage them if you become incapacitated or suffer an untimely death.
Other important considerations, such as who will become your child’s legal guardian, will be left up to the court to decide. When you need help creating an estate plan, make sure you have an experienced legal advocate working for you.
Contact a reputable Angier estate planning attorney at Breeden Law Office to find out how to get started today. You can reach us through our online contact form or by phone at (919) 809-6599 to schedule your confidential consultation today.
Having an estate planning attorney on your side is crucial as you plan for the future. Our estate planning lawyers at Breeden Law Office are here to help you:
You may not be sure whether having an estate planning attorney is in your best interests or necessary. However, suppose you do not plan for the worst and determine how your estate will be handled before you pass away. In that case, your estate will fall under North Carolina intestate laws, which means the state will remain in control of your assets and how they are distributed.
This could mean your assets are distributed in a way you would not have determined, cause strife among family members, and cause a loss of inheritance due to estate taxes. Having qualitative estate plans means you can decide how your estate is handled.
You can determine how your children will be taken care of, who will be responsible for them once they start receiving distributions from your estate, and ensure they have a steady income stream for the rest of their lives. While you still have the physical and mental capacity to make these decisions, now is the time.
With Breeden Law Office working for you, you can set up thorough estate plans to protect your family, help you avoid probate, and ensure your documents are correctly completed. That way, they are legally valid and enforceable upon your passing.
Here are some of the top estate planning services we offer:
Your will determines how your property and assets will be distributed to beneficiaries after you pass away. Your estate planning attorney in Angier will help draft your will in accordance with North Carolina estate laws. The benefits of having a will are undeniable. They include:
Trusts allow you to avoid having your estate go through probate and be subject to taxes. By setting up a trust, you are placing your assets into a trust with a designated beneficiary.
Then, the trustee of your choosing will be responsible for managing the assets within the trust, handling beneficiary disbursements, and acting in the trust’s best interests. You can discuss how revocable and irrevocable trusts work when you go over your estate plans in further detail with your attorney.
It is crucial to make important medical and financial decisions now in case you cannot do so in the future. It would be best if you assigned a power of attorney who can make these decisions on your behalf. Your medical or healthcare power of attorney makes vital medical decisions.
This might include keeping you on or removing you from life-support or other extenuating measures. Your durable power of attorney handles all of your estate’s financial matters. This might include paying monthly household expenses, handling investment and retirement savings accounts, and other relevant financial decisions.
When you become critically ill or pass away, assigning your dependent or minor children guardianship is crucial. Otherwise, the court system would need to decide who will be responsible for caring for your children until they reach legal age or are physically capable of doing so. Your Angier estate planning lawyer can help you select the best guardian to protect your children and their future.
No one wants their estate to go through probate. Your estate planning attorney can handle your estate as described in your will and other estate plans through estate management and administration. If your estate plans are thorough, going through probate can be much easier than having many unanswered questions or concerns.
If you built or purchased a business, business succession planning is crucial to your estate plans. If you become suddenly ill or pass away, having robust business succession plans in place can help reduce the chaos of ownership transfers and help your business remain open and prosperous despite your death.
Your estate planning lawyer will help you determine which assets should be included in your estate plans. Some of the most common assets to consider include:
In addition to selecting a power of attorney, assigning guardianship, and creating a well, there are multiple other considerations to remember when working on your estate plans.
Adding a life insurance policy to your estate plans may be in your best interest if you are the primary person supporting your family financially. When you pass away, your life insurance policy financially supports your dependents. This way, dependents can continue to cover household expenses, avoid financial distress, and be prepared to cover unexpected costs, such as estate taxes.
After completing your estate plans, make sure you obtain copies of these documents for your estate planning attorney and the administrator of your estate. You should also keep these documents in an accessible but safely stored area, such as a personal safe. Keep your estate plans out of a safety deposit box, as these may not be easily accessed after you pass away.
Do not forget to include your funeral arrangements as part of your estate plans. You can set up a payable-on-death account to ensure that your funeral costs are fully funded in advance. You should also include instructions on whether you want a funeral, whether you want to be cremated or buried, and any other wishes you have regarding how your death should be handled.
The estate planning process can be notoriously complex. If you have extensive estate plan questions, our team at Breeden Law Office has answers.
Contact an experienced Angier estate planning attorney at our firm today to learn more about how to begin with your estate plans. You can reach us through our online contact form or by phone at (919) 809-6599 to schedule your confidential case review today.
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