Everyone has an estate; some are far larger than others but everything you own; your home, your cars, your money, your investments, life insurance and more forms your estate. There is one other thing that needs to be said; “you can’t take it with you.”
The wise individual wants to be responsible for determining where his or her estate goes. To ensure that this happens, it starts with hiring an estate planning lawyer in Orange. When you plan for the disposition of your estate properly you can mitigate the amount that is taken out to pay taxes and court costs.
What does an estate planning lawyer do?
An estate planning lawyer, often called a probate lawyer is a legal professional that has a thorough understanding of all laws; state and federal, which have an impact on how your assets will be valued dispersed and taxed upon your death. Your lawyer will:
* Assist in creating your last will and testament
* Designate those you wish to be beneficiaries of your estate
* Establish a power of attorney in the event you are not in a position to manage your own affairs
* Look for legal ways to mitigate or avoid estate taxes
* Establish any trusts that may be needed to ensure your assets are protected during your lifetime and after
Estate planning is for everyone:
Although there is a natural tendency to think more about planning the disposition of your assets as you get older, the sad truth is; we can’t predict how long we will live. Illness and accidents happen every day of the week, and not only to the elderly.
You may think that only the very rich have to worry about their estate. An estate planning lawyer in Orange will certainly disagree. The truth is, those with a more modest estate are extremely important to those left with a more modest income stream as they can’t afford to lose it.
If you are wise you will engage the professional services of an estate planning lawyer in Orange; your estate does not have to be big to be important to your family. You are invited to contact the Law Offices of Norman J. Homen online at http://lawnjh.com/other-areas-of-law/wills-and-trusts-attorney/