What is estate planning?

Estate planning is the process of arranging and managing your assets during your lifetime and distributing them after your death. It involves creating wills, trusts, and other legal documents to ensure your wishes are followed.

How can an estate planning attorney help me?

An estate planning attorney provides expert guidance in creating customized estate plans based on your unique circumstances. They can assist with drafting wills, setting up trusts, and advising on strategies to minimize taxes and probate expenses.

What is a living trust?

A living trust, also known as a revocable trust, is a legal document that holds your assets during your lifetime and transfers them to designated beneficiaries upon your death. It allows for efficient management and distribution of assets while avoiding probate.

Why is asset protection important?

Asset protection involves safeguarding your assets from potential risks, such as lawsuits, creditors, or financial instability. An asset protection attorney can help you establish legal structures and strategies to shield your assets and minimize exposure to risks.

How can a trust attorney assist with trust administration?

A trust attorney specializes in trust-related matters, including trust administration. They can guide trustees through the process of managing assets, complying with legal obligations, and distributing trust assets to beneficiaries according to the terms of the trust.

What is the role of a probate attorney?

A probate attorney helps executors and personal representatives navigate the probate process, which involves settling a deceased person’s estate. They provide legal guidance on probate requirements, handling debts and taxes, and distributing assets to beneficiaries.

What is a durable power of attorney?

A durable power of attorney is a legal document that designates someone (an agent or attorney-in-fact) to act on your behalf for financial and legal matters in the event you become incapacitated. It ensures that your affairs are managed according to your wishes.

What is trust litigation?

Trust litigation refers to legal disputes or conflicts arising from trusts. A trust litigation attorney can help resolve issues such as breach of fiduciary duty, contested wills or trusts, trust mismanagement, or beneficiary disputes through negotiation, mediation, or litigation.

How can I avoid probate?

Probate avoidance strategies include setting up living trusts, gifting assets, designating beneficiaries for financial accounts, and utilizing joint ownership or transfer-on-death provisions. An estate planning attorney can guide you on the best methods based on your circumstances.