Media stories about estate planning usually involve the ultra-wealthy and the famous. Oftentimes these individuals have neglected to utilize the appropriate legal documents to ensure that their assets are passed down without conflict. As a result, disputes sometimes arise which can leave an estate's assets diminished and deceased loved ones unable to recover the assets to which they feel entitled.
Although estate planning issues often arise with those individuals who are wealthy and have complex estates, the estate planning process isn't solely reserved for them. Instead, everyone can benefit from estate planning. By creating a thorough estate plan, an individual can ensure that his or her financial assets and health care preferences are protected in the event of incapacity, and that assets are distributed in accordance with his or her wishes. This can save time, money and familial strife. It can also leave an individual with peace of mind knowing that his or her estate is adequately addressed.
At Peppler Law, P.A., we know how to customize estate plans so that they meet the needs of our clients. We can utilize several legal vehicles to meet estate planning goals, including wills and a variety of trusts. With regard to wills, we work with our clients to ensure that they not only address all pertinent matters, but also that they are legally enforceable and free of any appearances of undue influence or incapacitation. When it comes to trusts, we help our clients identify their wishes for asset distribution and select trust options that further those interests. Additionally, we help create trust terms that dictate the conditions under which trust assets can be distributed.
Many individuals try to engage in estate planning on their own. This is usually a mistake. This process is highly detailed, and even a seemingly minor mistake can have enormous ramifications. With so much at stake, individuals of all economic walks of life should consider sitting down with an attorney who can guide them through the estate planning process.