A common misconception about estate planning is that you need to have a lot of assets to need an estate plan. That is simply not the case.
Nearly everyone can benefit from estate planning.
Mothers and Fathers of minor children can benefit by choosing who will take care of their children, in the event of their premature passing.
Husbands and Wives can benefit from knowing that the other will be taken care of in accordance with their wishes.
The elderly can benefit by knowing that their property and affects will be passed on while minimizing the possible effects of estate taxes.
Domestic partnerships can benefit by ensuring that their life partner is able to visit them in the hospital should they become ill and speak for them if they cannot speak for themselves.
At Garner Law, we know that you do not want to spend a fortune to save your fortune. Because of that, powers of attorney and beneficiary deeds are $150 each, simple Wills are $300 for a single person or $500 for a couple; simple trusts start at $750.
But no two estates or estate plans are just alike, so get a free consultations to determine what solution best fits your needs and desires.
Probate and Estate Administration
Probate is the process whereby the assets of an estate are distributed to heirs and creditors. This process includes wills, as each will is validated and accepted through the probate process. Probate also includes a process where heirs can petition the Court to determine the distribution of assets where there is no will.
Like most areas of the law, you do not need an attorney to take an estate through probate. Whether you hire an attorney or not, there are rules and formalities which must be followed. If you do not know the process or do not follow the rules, it can delay the probate process substantially. Because of this, many people find it advantageous to work with an attorney to help ensure the probate is completed in an accurate and timely fashion.
Unlike wills, most trusts do not have to go through probate. That does not mean, however, that there are not significant pitfalls that can arise in trust administration. An attorney can help ensure that when you administer a trust or make final distribution of a trust that it is done in the correct fashion and that you take the necessary steps to help prevent any personal liability.
Contact Us or call 417-319-2290 to schedule your free initial consultation today.