Estate planning is the creation of a definite plan for managing your wealth while you’re alive and distributing it after your death. These assets may be owned by you alone or jointly with others. It is also a means to ensure your children never end up in the care of the state. Thus, everyone with small children needs some type of planning. You need to name someone to take care of your children if you can’t.
Estate planning is the preservation and the distribution of your assets, both during your life and upon your death. It is meant to accomplish your personal and family goals and ease the management of your financial and legal affairs. When we talk about an estate, we mean all assets of any value that you own, including real property, business interests, investments, insurance proceeds, personal property and even your personal effects. An “estate plan,” generally, refers to the means by which your estate is passed on to your loved ones upon your death. Estate planning can be accomplished through a variety of methods, including:
Revocable Living Trusts
Last Will and Testament / Probate
Problems often arise when people don’t coordinate all of these methods of passing on their estate. If you have a well-drafted estate plan in place, you will ensure that your estate passes to whom you want, when you want, and is carried out in the manner you’ve chosen. You can rest assured that your family won’t have to endure the public process and costly matter of probate. But you need to be aware of the many options that exist in estate planning – and you must choose your estate planning attorney wisely. Give Marty at Circle of Life Legal Services a call today.
TRUST AND PROBATE ADMINISTRATION
If your family has experienced the loss of a family member, the Circle of Life Legal Services office can assist you with the legal process that occurs after a loved one passes away. We will guide you through the often frustrating and lengthy probate process no matter if your loved one left a will or not. If you loved one created a trust, the process is much quicker but still requires specific steps to properly transfer assets. to the beneficiaries. Our firm’s guiding principle is to provide families with quality trust administration and probate services tailored to each client’s specific needs.
We offer free, no obligation consultations for any family who has experienced the loss of a loved one.
Many new business owners don’t realize how confusing the maze of legal decisions can be when creating a business structure for the first time. Circle of Life Legal can help guide you through this and ensure your overall well-being as a business owner.