What is Estate Planning?
One of the most important steps a person can take, in the care and planning of their personal estate is legally referred as Estate Planning.. Every possession including cars, cash, investments, real estate, life insurance, household furnishings, investments, businesses and personal possessions, collected over a lifetime, are part of one’s estate. No matter the value, all of the property within the estate must be disbursed as to the decedent’s final wishes, simply because “you cannot take it with you.” In order to accomplish this well, there are many complex issues that arise in designating final distribution.
Ressler Law Firm Estate Planning Attorneys have the expertise to manage every aspect of the Estate Planning process, from inception to completion. With a well designed, legally sound plan, which ensures the assets of the estate are passed to the intended destination, the process for the heirs of the estate will be as seamless, timely and efficient as possible.
What Do Estate Planning Attorneys Do?
While assessing the breadth of one’s estate, it becomes clear that some of the assets of the estate carry with them regulatory and legal constraints. This is where the assistance of the Ressler Law Firm Estate Planning Attorney becomes critical. Compliance with all federal, state and local legal regulations is the purpose of comprehensive level of planning. Final wishes are achieved.
Many of the areas of expertise an Estate Planning Attorney address:
- Eliminate the need for unnecessary legal fees and court costs
- Streamline the potential tax liability for the estate and its heirs
- Design tangible means to include personal values such as faith or education
- Plan for disability care, if it becomes necessary
- Ensure ongoing care for minor or special needs dependents
- Monitor life, disability and long term care insurance management
- Plan for the potential contingencies for the transfer of proprietary businesses
Providing for the most comprehensive Estate Plan will protect the estate from federal, state and local enforcement regulators stepping into a void left by the decedent’s possible oversight. The court will step in upon a disability or death, on each area not addressed, without the legal benefit of an Estate Plan.
Ressler Law Firm Estate Planning Attorneys will ensure that each key component of the estate is clearly and legally contained within the final Estate Plan. Once finalized, the Estate Plan will be regularly monitored, to ensure that any necessary personal or regulatory changes are incorporated, as addendum, to the official Estate Plan.
Do I Need an Estate Planning Attorney?
As indicated, everyone with possessions should create an Estate Plan. This becomes even more essential with the inclusion of assets, or a family. The following personal questions indicate a clear purpose for finalizing a comprehensive Estate Plan:
- What stage of life are you entering?
- How important is your personal privacy?
- Are minor dependent children in the family?
- What is the estimated value of your possessions?
- Are retirement account eligible for personal instructions, such as stretching?
- Are “values” donations important to you, as in civic and charitable groups?
- If a business owner, what is your succession plan?
- Are there special circumstances in the family?
- What is the state of residence, and location of real property?
Ressler Law Firm Estate Planning Attorneys have the expertise to assess and guide clients with these and all potential Estate Planning questions. Peace of mind is the goal, and a comprehensive professional journey is the path.
When to Start Estate Planning?
Now is the best time to begin Estate Planning. Life is a gift, that can change in an instant. Protecting one’s family, business and heirs from being caught off-guard, along with the peace of mind that buoys one’s life, are the key ingredients for beginning the journey of a comprehensive Estate Plan. Contact Ressler Law Firm, and begin the process.