Estate planning lawyers help people write instructions for the future handling of their property, finances, healthcare, and the future support and care of their loved ones.
In all your years as a parent, entrepreneur, spouse, investor, or small business owner, you have learned two things:
1. The future is always uncertain. Your younger self could never have anticipated the many changes that life has brought both to your fortune and circumstances.
2. While you can’t know what the future holds, you can make effective plans to deal with unexpected change. You can take steps to protect your assets from any changes the future may bring. In fact, the risk is greatest if you don’t act now to secure your future.
Wealth Preservation & Protection
Since each client’s concerns are unique, a lawyer creates a trust and estate plan to give clients the comfort of knowing that their loved ones will be prepared to respond decisively when the need arises. That level of comfort exists not just because of technical ability, but also because of excellent listening skills. Working closely with a client, a estate planning lawyer gets to know you, your family, and your trusted advisors. A commitment to that process allows you to better understand each client’s goals and objectives, to identify potential hazards and to develop creative estate planning solutions.
Wealth preservation and protection require an appreciation of the current and future needs of clients and of those who depend on them. Multi-generational planning requires cutting-edge legal and tax planning techniques, and an appreciation of the human dynamics involved in family relationships.
Trust & Estate Administration
Each executor, administrator, trustee and other fiduciary is bound to promptly create a plan to meet their legal, financial and ethical responsibilities. Without a timely and effective plan, a fiduciary cannot properly discharge the duties of office, thereby risking personal liability for opportunities lost and expenses incurred.
Estate planning lawyers are committed to ensuring that their clients have a complete understanding of their obligations and a clear plan for meeting those obligations before they accept fiduciary appointments. The lawyer will guide their client through the estate administration process so that deadlines are timely met and the administration is completed smoothly and efficiently.
In addition, strict deadlines, limited marketability of assets and volatile financial markets require beneficiaries to be proactive in protecting their interests. Beneficiaries who delay in asserting their rights could experience irreparable financial harm through missed opportunities, increased tax and other costs and changing economic conditions.
Since each trust and estate is unique, we work closely with our clients to evaluate the various relevant legal, financial, tax and business issues, and to understand the clients’ concerns, needs and expectations.
The illness or death of a loved one often evokes strong emotional responses, creating an environment that fosters disagreements. Disputes may center on the validity or interpretation of a Will or trust, the unintended consequences of unforeseen circumstances or the actions of a fiduciary being challenged by a beneficiary. Amicable resolutions to beneficiary-fiduciary, intra-family and administrative disputes are always best. The court system is available as a last resort.
An estate planning lawyer is always ready to enforce a beneficiary’s right to receive his or her full distributive share, as well as the right to expect that fiduciaries will discharge their duties faithfully, promptly, competently and without bias.
Rest Easier Knowing Your Family and Business’s Future is Secure
You have worked to build your business or to grow your estate for your heirs. However, without careful planning, you could lose the value of your hard-earned assets to taxes, lawsuits, or even the squandering behavior of someone you can’t trust.
Worrying about the future can keep you awake at night. For your own peace of mind and for the wellbeing of your family, turn to a reputable firm like The Yee Law Group, PC. and speak with an estate planning lawyer. They can assist you to set your future on the right course and give you the assurance you need today.