Estate planning is the process of protecting and managing your assets should you fall ill or pass away. It is a critical part of preserving your estate and legacy, especially since your assets could fall into the state’s hands if you do not have a plan. A properly drafted estate plan will ensure your descendants and beneficiaries receive what you intend for them.
To ensure all your assets are properly cared for, it is essential to enlist the help of an experienced estate planning attorney. A qualified estate planning attorney can help you:
- Prepare a Last Will and Testament. Your Last Will and Testament dictates how your assets are distributed after you die. It is also a good place to nominate the guardians (back-up “parents”) of your minor children if they are orphaned. This legal document will help your estate’s probate process go smoothly, as well as protect your property, assets, and children.
- Create a Trust. There are many different types of trusts, and these documents are more involved than a will. Typically, a trust involves at least three parties: the trust-maker (Settlor), the trust manager (Trustee), and the trust beneficiary (or beneficiaries). A trust can help your estate avoid or minimize the probate process.
- Draft Powers of Attorney. Unlike a will or trust, powers of attorney give another person, or agent, the authority to make decisions upon your illness or incapacity. Our attorneys draft…health and wellbeing, respectively, concurrently or if you become incapacitated.
- Manage Digital Assets. Digital assets you own, such as online accounts in your name, digital files, financial accounts, and more, need to be managed just like physical assets. With an attorney’s help, you can create a digital estate plan to give your family access to your online accounts and digital devices in the event of illness or after your death.
You might not think you need estate planning now, but it’s an important part of your life regardless of your age. By taking control while you are able, you ensure that your wishes regarding what matters most to you are respected and followed in the future.
To begin working with a qualified estate planning attorney in North Carolina today, contact the Salines-Mondello Law Firm, PC office by phone at (910) 777-5734 and schedule your first, fully confidential consultation.