Estate Planning
Estate Planning Attorney Services
Estate planning is an essential step in protecting your assets and ensuring that your loved ones are taken care of after your passing. If you are looking for an experienced estate planning attorney, you want to find someone who will listen to your needs and goals, and then help you create a plan that meets your unique situation.
Price & Price estate planning attorneys are dedicated to helping clients feel comfortable by taking the time to listen and educate them about their choices. We understand that estate planning can be a complex and emotional process, which is why we take the time to explain the legal options available. Whether you are just starting to plan your estate or need to update an existing plan, we are here to help you achieve your estate planning goals.
AREAS OF EXPERTISE
Common Estate Planning Terms
A will and testament outline an individual’s wishes for the distribution of their assets and property after their death. This document can name an executor who will be responsible for carrying out these wishes and can also appoint guardians for minor children. A will and testament can be used to make specific bequests of property or assets to particular individuals or organizations.
By working with a Price & Price estate planning attorney, you can ensure that your will and testament will be an important part of your comprehensive estate plan. It is the legal document that allows individuals to have control over what happens to their assets after their death. Without a will, the state’s default rules will govern the distribution of assets, which may not align with an individual’s wishes.
A Power of Attorney is a legal document that gives someone else the power to act on your behalf in financial and legal matters. This person, known as an agent or attorney-in-fact, can make decisions and take actions such as signing documents, managing bank accounts, or selling property. A Power of Attorney can be general or limited to specific areas and can be effective immediately or only upon certain conditions, such as incapacity.
A Healthcare Declaration, also known as a Living Will or Advance Directive, is a legal document that allows an individual to make decisions about their medical treatment and end-of-life care in advance, in case they are unable to make these decisions themselves due to incapacity. The document outlines an individual’s preferences for medical treatment, including life-sustaining measures such as artificial respiration or tube feeding.
These documents are important parts of a comprehensive estate plan, as they ensure that an individual’s wishes are respected and carried out in the event of incapacity or end-of-life care.
Estate administration and probate are legal processes that occur after someone dies and their assets need to be distributed to heirs and beneficiaries.
Estate administration involves managing and distributing an individual’s assets after they pass away. The process typically involves identifying and valuing assets, paying debts and taxes, and distributing assets to beneficiaries in accordance with the decedent’s wishes. Estate administration can be a complex process, and it often requires the assistance of an attorney or other legal professional.
Probate is a court-supervised process that validates a deceased person’s will and oversees the administration of their estate. Probate involves appointing an executor to manage the estate, paying outstanding debts and taxes, and distributing assets to beneficiaries. Probate can be a time-consuming and costly process, as court fees and legal expenses can be significant.
In some cases, estate planning strategies such as trusts or joint ownership can help assets pass to beneficiaries without going through probate. It’s important to work with an experienced estate planning attorney from Price & Price to ensure that your assets are distributed in accordance with your wishes and in the most efficient way possible.
Buy-sell agreements are legal agreements between business partners or co-owners that govern the sale or transfer of ownership interests in the event of certain triggering events, such as the death, disability, retirement, or termination of one of the owners.
These agreements can help ensure a smooth transfer of ownership and provide a mechanism for valuing the business and determining the price of the ownership interest. These agreements can also help prevent disputes between owners or their heirs and provide a plan for the continued operation of the business.
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Estate Planning Questions
- What is estate planning, and why is it important to have an estate plan?
Estate planning is the process of creating a plan for how your assets and property will be managed and distributed after your death. It is important to have an estate plan to ensure that your wishes are followed, your loved ones are provided for, and your assets are distributed according to your wishes.
- What services do estate planning attorneys typically provide, and how can they help you?
Our estate planning attorneys provide a range of services, such as creating wills, trusts, and other legal documents to manage your assets and property. They can also provide guidance on tax matters, probate, and other legal issues related to estate planning. Price & Price experienced estate planning lawyers can help you ensure that your estate is managed efficiently, your beneficiaries are protected, and your assets are distributed according to your wishes.
- What is the Price & Price estate planning process?
When you contact us for an appointment, we’ll send you a Planning Questionnaire based on your marital status. It’s best to complete this before our office conference, as it provides us with valuable information and prompts questions you may want to ask.
During the conference, we’ll analyze your assets, liabilities, and family dynamic, and work with your accountants and financial advisers if needed. We’ll present various options and associated legal expenses, allowing you to make informed decisions that achieve your planning goals.
Once you retain our firm, we’ll draft the necessary estate planning documents, allowing you to review and make revisions before executing them in our office with further counsel.
LET’S TALK ABOUT YOUR CASE
If you’re facing a legal issue or seeking legal advice, don’t hesitate to contact Price and Price attorneys. Our experienced and knowledgeable team is here to assist you every step of the way. We promise to help you achieve the best possible outcome for your situation.