An Estate Planning Law Firm St. Peters Counts on for Guidance
If you are perplexed with what estate planning entails, you can rely on an attorney from Legacy Law Center, a trusted estate planning law firm in St. Peters. Estate planning can feel overwhelming and confusing. For some, it is emotionally difficult to think about where their assets should go when they pass away or if they become unable to take care of themselves. Our legal team can help you make the difficult decisions when it comes to what to include in your estate plan and last will.
In advance of contacting an estate planning law firm in St. Peters such as Legacy Law Center, below are some guidelines you may which to consider following. It may be helpful to make notes of the following questions and answers. Later, when meeting with an estate planning attorney you can speed the process by referring to your notes.
- Drafting a Will
You may want to start off by thinking about those who are closest to you. Who are the people you want to have your most treasured belongings? Who do you feel deserves and can handle receiving financial gift? Start by writing down the names of all your potential beneficiaries. Take plenty of time to complete this list of people. Decide who should inherit which items or cash, and how much of each gift they should receive. In some situations, this can be a complex list, especially if there are substantial assets. An estate planning law firm in St. Peters such as Legacy Law Center can help make sure your wishes are clear.
- Creating a Living Trust
Many people can benefit from creating a living trust as it can help prevent loved ones from having to undergo probate court. During a time of grief, the last thing your family will want to do is participate in a grueling and potentially expensive legal proceeding. As an estate planning law firm in St. Peters, Legacy Law Center understands the importance of living trusts and we are happy to provide you with more information about them.
- Assigning a Power of Attorney
A person who holds the power of attorney on your behalf can oversee many aspects of your assets. This person can handle your finances including writing checks, depositing funds, selling your home or vehicles, and making decisions for your solely owned business. Who you appoint to be your power of attorney should be trustworthy and someone who has only the best of intentions for your continued legacy.
- Safekeeping Important Documents
When starting your estate plan, you will want to keep important related documents in a safe and secured place. Create a safekeeping method that includes your will, trust, real estate deeds, insurance policy, bonds, stocks, mutual funds, bank account information, 401K/Individual Retirement Account, retirement plan, final arrangements and other estate planning documents. An estate planning law firm in St. Peters such as Legacy Law Center can help you decide which documents should be included.
Planning Your Estate and Don’t Know Where to Start?
An estate planning law firm St. Peters, Missouri offers can help you make arrangements for what will happen to your legacy after you pass away. Have you been thinking about what will happen to all you have built when you die? It is sometimes a scary and uncomfortable thing to think about. However, with the assistance of a St. Peters estate planning law firm such as Legacy Law Center, the process can be much easier than you may realize.
Here are answers to some common questions about the process of planning one’s estate:
Does “estate planning” really have to be more complicated than just writing a will?
Estate planning encompasses many aspects of planning for what will happen to your assets after your death. An estate planning law firm St. Peters, Missouri locals recommend can review all of your options with you. Most people have heard of a last will and testament, or just a “will.” It is a document that designates who will receive which of your assets after you die. Wills are a relatively simple way to make your last wishes known. However, there are also potential pitfalls.
First, you will need to make sure that you write your will so that it complies with the requirements of your state’s laws. For example, some states require that a will be witnessed and signed in a particular way so that it can be deemed authentic without the need to present evidence in court. Charles J. Moore of Legacy Law Center can guide you through the will-writing procedure. As an estate planning law firm St. Peters, Missouri families turn to, we have helped many individuals navigate this legal process.
Second, almost all wills must go through a process called “probate.” Many people have heard of or dealt with probate directly. If you have, you know that it can be an onerous and time-consuming process. The court will consider the validity and authenticity of your will, assess your assets and any liens that others may have against those assets, and, eventually, distribute the assets to your designated beneficiaries. This process is public and can significantly delay the time between your death and when your loved ones receive their inheritance. Experienced estate planning attorneys such as those at at Legacy Law Center, may be able to help you avoid probate. However, an estate planning law firm in St. Peters, Missouri can potentially save your loved ones time, hassle and money.
Do I need to have an estate plan, even if I just want everything to go to my spouse?
In a word, “yes.” Life can be unpredictable and even though your spouse may survive you, there is a chance that he or she may not. In the event your spouse passes before you, or very close in time, having an estate plan is an important failsafe. This is especially true if you have minor children or a business that will need immediate care and attention in the event of your death. State laws prescribe who will receive assets if you die “intestate” (without a will). Typically, if you die intestate, your assets will flow to your spouse. However, if your spouse is no longer living, you may wish to designate someone other than the default beneficiary in your state. This may be particularly in important to you if you are the owner of your business or have a complicated family tree. It is important to consider all possibilities when planning for the end of your life. Consider contacting the attorneys at Legacy Law Center, an estate planning law firm St. Peters, Missouri community members rely on for assistance.
If you have any questions about the information above, or any other question about estate planning, call Legacy Law Center today for a free consultation. We have gained experience and knowledge about estate planning through helping many people. Call today to reach an estate planning law firm St. Peters, Missouri residents choose when they want to protect their legacy.
At Legacy Law Center, we make no secret of the importance of an estate plan for your loved one’s future. After your passing, your loved ones will want remembrances of you. Let us help you create an estate plan that offers you relief and confidence that your family is taken care of. Contact us to meet with a trusted attorney from an estate planning law firm St. Peters families turn to for guidance.
