TRUSTS, ESTATES, WILLS AND PROBATE
Estate planning attorneys advise clients on living wills, death wills and transfer of wealth from one generation to another. Well versed in tax laws, elder care laws and the general laws of family and real estate law, trust lawyers help individuals and families plan for the care of themselves or their loved one if he or she should become disabled and not be able to make their own decisions. Estate attorneys also plan for probate court and the taxes that will result, those being death tax, inheritance tax, or gift tax. Trusts and living wills, brokerage accounts and past debts incurred by the deceased are all under the guidance of trust attorneys.
Probate is a term that refers to the proving of the existence of an existing will. Probate is a process that allows property that was once owned by a recently deceased person to be passed along to a predetermined person as stated in a formal document drawn up by a will attorney. Hiring a probate attorney is necessary if the inheritors of funds or properties from estates want their court proceedings to go smoothly.
Wills and estates have the ability to enable persons to still care for their families after they die. These formal documents allow for the proper dispersal of funds, properties and also make provisions for who will care for dependent children should parents die before the children are grown. If there are no children or other relatives and there is wealth to be given, the deceased charity or foundation of choice can be stipulated as beneficiary (recipient) of funds. Wills and trusts also allow for designating executors to supervise the carrying out of specific wishes in a will.