Estate planning is a term that scares many individuals, as they simply don’t understand what it involves. They believe it is a long and complicated process, one that will take a great deal of money. The truth is, it is nothing like that. All an individual needs to do to plan their estate is to determine what they own and contact an attorney that offers services involving wills, estates, trusts in Huntersville, NC. The attorney will then help them determine which plan best meets their needs and how to go about protecting their assets for their loved ones.
Begin the process by creating a will, as this is the most basic of the estate planning documents. Once this has been done, determine if a trust is needed. Property in a living trust escapes probate and makes the process easy for those expected to inherit. While completing these tasks, be sure to look at the current life insurance policy and see if it needs to be changed in any way. This money may be used by your spouse and children as they adjust to life without the deceased. If minor children are involved, name someone to manage any money and property they will receive upon your demise.
An estate plan comes into effect even before the person passes away, in certain situations. For example, health care directives are helpful when a person becomes incapacitated and can no longer make decisions for themselves. Business owners particularly need to take care of this task, as they want the business to continue until they return to their position, or they pass and their successor, as named in the documents, takes over. These are only a few of many tasks that may be involved in estate planning.
Contact Lake Law, PLLC, a firm offering services related to wills, estates and trusts in Huntersville, NC, for assistance. With the help of the attorneys at this firm, anyone can create an estate plan that meets their needs, protects their assets and ensures their loved ones receive the desired items. Don’t let the process become so overwhelming that you can’t finish it. We are here to help and answer any questions you may have. Our goal is to ensure each individual obtains the protection that they need, and avoids probate during a difficult time in their life.
