The advice and direction of your attorney will be essential to implementing an estate plan that addresses the handling of your assets according to your wishes and meets your other personal objectives.
Some advertisements claim you can save time and money by drafting your own will using do-it-yourself software or fill-in-the-blank will kits. It is unlikely that these systems will generate a suitable will that accomplishes all of your objectives. However, you can save time and money by preparing thoroughly for a meeting with your estate planning lawyer. You can organize information regarding your assets, liabilities, and title arrangements and discuss your feelings about providing for various family members. You should provide copies of important documents such as previous wills or trusts, powers-of-attorney, life insurance policies, employment benefits, and prenuptial agreements or divorce decrees.
Every adult should consult an attorney regarding their estate plan. Our firm offers a no-pressure, free consultation with a qualified estate planning attorney.
In addition to federal and state laws that exempt certain types of property from creditors’ claims, taxation, or both, there are numerous estate planning tools that may be able to shield assets from future creditors and reduce or eliminate estate or income taxation.