While most people are familiar with the term estate planning, not many understand the role of estate planning attorneys. An estate planning attorney plays an instrumental role in protecting your assets and ensuring your wishes are adhered to after you pass. In this blog post, we delve deeper into what an estate planning attorney does.
A will is a legal document that outlines how a person’s estate should be distributed after they die.
Estate planning attorneys assist clients in drafting wills and ensuring that the will is legal, binding, and thorough.
In the absence of a will, the estate becomes intestate, and the court will distribute the assets according to the state law. By having a will drafted with the assistance of an estate planning attorney, the client can take control of how their assets are distributed after they pass.
Assisting with Trusts
Another role of an estate planning attorney pertains to trusts. Trusts are legal documents that outline how a person’s assets should be managed and distributed while they are alive or after they pass.
Estate planning attorneys can assist clients in establishing trusts, selecting trustees, and managing their assets.
Minimizing Estate Taxes
When a person passes, their estate is subject to federal and state inheritance taxes. An estate planning attorney can assist their clients in minimizing estate taxes by establishing trusts, gifting assets, and utilizing other legal strategies.
Minimizing estate taxes ensures that the assets left behind are not significantly reduced by taxes, but are instead used to support the clients’ heirs and legacies.
Planning for Incapacity
A person may not be able to make decisions on their own if they become incapacitated. Estate planning attorneys can assist clients in planning for incapacity by establishing a durable power of attorney, living will, and other documents. This ensures that a person’s finances, medical decisions, and other matters are managed by a trusted person of their choosing in the event of incapacity.
Estate planning attorneys may sometimes represent clients in estate and trust litigation. This may involve challenging a will or trust, defending against such challenges, or representing clients in disputes involving estate assets.
At the Rivas Law Group, We Are Focused on You
At the Rivas Law Group, we offer a wide variety of professional and efficient services that go from preliminary legal advice to litigation and civil law for both corporate and private clients.
We have offices in Riverside, California, and Chino, California. Contact us today to learn more about our services. Hablamos español.