Estate Planning

An Estate is the entirety of a property, real and personal, owned by an individual prior to distribution through a trust or will.

Estate planning is the process by which an individual, or nuclear family with the person's consent and approval, arranges the transfer of assets to heirs or other beneficiaries. The reason for this is to provide the family, or anonymous miscellaneous beneficiaries, with legal rights to the property after the individual has passed away.

Aspects of Estate Planning, include:

• Trusts
• Wills
• Uniform Probate Code
• Gift Tax
• Dynasty Trust
• Joint Tendency

A good Estate Planning lawyer can do more than just manufacture a simple will. Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure that your wishes regarding which items are allocated and who the main beneficiaries are.

Many trusts are created as an alternative to or in conjunction with a will and other elements of estate planning. State law establishes the framework for determining the validity and limits for both.

An Estate Planner can assist you with organizing your personal and business records such as:

• Brokerage Accounts
• Retirement Plans
• Savings and Checking Accounts
• Insurance Policies
• Business and Partnership Interests
• Debt Personal Property

An Estate Planner can also assist all other possible estate planning law concerns.

Article courtesy of http://www.estateplanninglawfirms.com/, a site that lets you find estate planning lawyers in your area by your zip code. The the site  also has estate planning related news and legal topics.

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