Attorneys Cohen & Winters are estate planning lawyers in Nashua NH. Estate planning laws are in place to ensure that assets are passed down without the associated expenses and delay that often comes with issues related to probate and estate administration. This can include will drafting, trust formation and dispute resolution.
What is Estate Planning?
Estate planning refers to the process of planning for the disposition of your estate (money and property) after your death. Typically, estate plans include a last will and testament, trusts, and powers of appointment. Estate plans are important because they allow you to control what happens to your money and property during your lifetime and after your death. It minimizes complications in the event of death, which can be very expensive and time-consuming for surviving family members. Estate planning laws are in place to ensure that assets are passed down without the associated expenses and delay that often comes with issues related to probate and estate administration. A good estate plan can also minimize taxes, eliminate the need for probate, and control the distribution of assets upon your disability or death.
What Does Estate Planning Involve?
The estate planning process involves a series of steps, including: determining if your assets will be subject to probate, deciding who should receive which assets, and deciding how much tax liability you want your heirs to face. If you have minor children, it also involves naming a guardian.
What Can Estate Lawyers Do?
An attorney specializing in this area will be able to advise you about what kind of trust is appropriate for your situation, what type of will best meets your needs, whether you need to set up a guardianship or conservatorship for your children if something happens to you or your spouse, whether you can avoid probate, whether you should have a living trust (and what kind), how best to minimize taxes on your estates, etc. An attorney can help you create any document that is necessary to achieve your objectives. Estate lawyers can provide many different services to help you with estate planning. An estate planning lawyer can help you legally determine how your assets will be managed during your lifetime and how to distribute them after your death. At our firm we offer services such as Wills; a will is a legal document that describes how you want your estate distributed upon your death. If you die without a will, or if your will is found to be invalid, the state has a default plan for distributing your assets. Trusts; a trust is another way to distribute assets after death. You can place certain conditions on the distribution of assets in a trust, making a trust useful when you want some control over what happens after you pass away. Powers of Attorney; a power of attorney (POA) allows one person to act on behalf of another person in business and personal matters. POAs are often used in cases where someone becomes incapacitated.
Estate planning is important and when it comes down to it, you need a lawyer to help you do things the right way. To speak with our estate planning lawyers in Nashua NH, Contact us now for more guidance.