When an individual dies without a will in place, the state takes over deciding how their estate will be handled and dispersed. While no one wants to consider their own death, it is important individuals are proactive and work to finalize their estate, so their loved ones will be taken care of, should they die. Those who are considering drawing up an estate plan would be wise to seek legal help from an Estate Planning Lawyer in Hillsboro MO.
There are many services available from an estate planning lawyer:
* Parents of minor children will find setting up a living trust is crucial for protecting their children. This trust accomplishes three things: it provides income for the children, protects the estate from paying unnecessary taxes, and helps the heirs to avoid lengthy probate procedures.
* A will names, those who will inherit from the will and what they will inherit. The will appoints a guardian for any minor children, protects capital for the children and protects the estate from undue taxes.
* Setting up a power of attorney is another service the Estate Planning Lawyer in Hillsboro MO can help with. The person named as power of attorney has the legal right to make financial decisions and take care of property upon the death or incapacitation of an individual.
* Trust administration is also an important part of the process of estate planning. The administrator of the trust will be in charge of making sure all steps in the process of settling the estate are accomplished. Working with a lawyer ensures individuals have the information they need so they can fulfill their duties.
* Dealing with probate can be difficult for everyone involved. Whether individuals need assistance with settling an estate or setting up legal guardianship, a lawyer can help.
If you are in need of estate planning services and would like to learn more, Visit the website. They are a legal team you can rely on to meet your needs for extensive estate planning services. Call today, so you can schedule your appointment and get started on the process. They will help you through each step of the way.