There is a popular misconception in Wheaton that estate planning is something you only need to think about if you are elderly. However, a Wheaton estate planning lawyer could assist with structuring arrangements to provide benefits at any age and any asset level.
When you work with a dedicated Wheaton estate planning attorney, you could feel confident that you are prepared to take advantage of opportunities in the future and to weather storms that may come your way. An estate planning attorney could also assist with the administration of trusts and estates so that you may be sure you are complying with applicable legal requirements.
Most people in Wheaton realize that an estate planning lawyer could help write, revise, or probate a will. However, an experienced estate planning attorney could do much more, and the best place to start is often with a comprehensive review to help you ascertain your goals.
Among other things, a Wheaton estate planning lawyer could:
To prepare for the future and enjoy benefits in the present, often an estate planning attorney might recommend a variety of vehicles to prepare to meet various needs.
Estate planning needs is particularly complex for those with an ownership interest in a closely-held business. In addition to concerns about personal assets, a business owner needs to prepare for the future of the business.
While many business owners hope to remain active in the company for as long as possible, it is wise to be prepared in case a medical emergency or a desire for full or partial retirement makes it expedient to put a plan for business succession into action. Early preparation with the assistance of a Wheaton estate planning lawyer could reduce the potential for conflict, provide for a smooth transition, and preserve the value of the business.
Various types of trusts could be used to fulfill a number of estate planning needs. Many people in Wheaton choose to establish a living trust so that when they pass, their assets could transfer quickly to beneficiaries without the delays and expense of probate. Many types of trusts may be established to reduce tax liability both now and in the future.
A trust could provide an outstanding way to meet the future needs of loved ones. An estate planning lawyer in Wheaton could set up a trust to accomplish specific objectives such as providing income to dependents with special needs without interfering with eligibility for government benefits.
Many of us do not know exactly what we need to do to prepare for the future, but we do know we need to do something. A knowledgeable Wheaton estate planning lawyer could review your circumstances, help you determine your goals, and suggest the tools to fulfill those goals.
In addition, an estate planning lawyer could assist with the administration of a trust, help establish a guardianship, guide an estate through the probate process, or help resolve a conflict involving a trust, estate or business succession. To learn more about how an estate planning attorney could help in your situation, call now for a consultation.