In the Walker area, there are a number of situations people may find themselves in that require the services of an attorney. A popular issue an attorney can help people with is estate planning. Many people think estate planning is for the wealthy. Fortunately, nothing could be further from the truth. A person doesn’t have to have an excessive amount of wealth to benefit from estate planning offered by an attorney in Walker MN.
If an individual has people, they want to provide for following death, having a proper estate plan in place can make the dissemination of property much easier. For example, setting up an estate can help avoid certain taxes family members may have to pay when a decedent’s assets are distributed. If there isn’t a life insurance policy in place, an attorney can recommend purchasing different types of annuities that are free from taxes upon death.
Another benefit to estate planning via an Attorney in Walker MN is the ease of the dissemination of assets after a person passes away. Without proper planning, probate issues can keep the estate in court for an extended period of time. By naming a trustee, as well as putting assets in various different investments and annuities, the amount of time it takes to distribute assets after a person has passed away is greatly reduced.
However, estate planning offered by a law firm like Borden, Steinbauer, Krueger & Knudson, P.A. isn’t just about what happens after a person passes away. Estate planning also makes allowances for situations where a person is incapable of handling their affairs. In these instances, rather than a family struggling to figure out who can make decisions for a person who is incapacitated or what decisions are best, an estate plan names an individual to take over the affairs of another person should they be incapable of handling those tasks. This takes a lot of the guesswork out of dealing with various situations that may arise.
There are many other nuances to estate planning, which is why consulting an attorney is so beneficial. A lawyer can help a client to devise a proper estate plan to deal with things such as lifelong disabilities and death. Proper planning can make your life, and the life of your loved ones, much easier.