Your Loved Ones Deserve The Best Planning

While no one likes to think about it, it’s essential to plan how your assets will be distributed in the event that you pass away or are mentally incapacitated. After all, in the worst cases, family members or dependents who most need financial support end up struggling to meet basic needs.

Without proper legal counsel, your assets are handled using the court-supervised probate process. This usually entails the loss of assets through far heavier taxation and increased fees than that which occurs with more careful legal planning. Probate processes also tend to place far more stress on family members as well as delay their acquisition of valuable assets and properties. The best thing you can do to avoid these imposed difficulties is to contact a trust and estate law firm that will do everything they can to get your affairs in order in a timely manner.

How Philadelphia Trust and Estates Lawyer can help you

Attorneys that specialize in trusts and estates help each client and their family or beneficiaries. They provide this needed assistance by legally organizing and planning the detailed distribution of assets when the person passes away. Following are just some of the common daily actions for this type of lawyer:

• Preparing final income tax returns
• Filing insurance claims
• Monitoring assets and/or investments
• Considering how to minimize financial loss through taxes or maximize deductions
• Arranging for the distribution of the estate

What Can a Trusts and Estates Attorney Do For You?

Trust and estate attorneys help their clients plan for the transfer of assets to relatives or loved ones such as children or spouses, as well as any other recipients such as charity organizations. To go through this process thoroughly and to ensure the highest level of efficiency and speed possible when the time comes, many legal practices are involved. Estate attorneys may help their clients prepare wills, powers of attorney, and several other types of agreements or documents. All these actions are completed in ways that help to save immensely on taxes and fees. Following are a few details about the specific types of legal work that a trust and estate attorney can complete on your behalf:

• Trusts: Qualified attorneys will consult with individuals, corporate trustees, and beneficiaries about the details of trust asset distribution. They may also have to litigate for their clients, including updating the terms of a trust or will or even defending or prosecuting for issues related to the trust.
• Estates: While trusts allow a person to create ongoing asset transfers for beneficiaries, whether before or after death, estates are a one-time redistribution event. An exhaustive will or plan greatly saves on taxes and fees, avoids litigation, and most importantly, protects a client and their beneficiaries. There are many different types of estate planning documents, from fairly standard wills or power of attorney to more advanced planning such as SLATs or business succession plans.
• Wealth planning and protection: The highest quality financial planning is both an art and a science. While each client may have unique needs, everyone likes knowing that their loved ones are fully prepared for whatever comes up. A great trust and estate attorney will leave no blind spots in a long-term strategy for financial prosperity and protection. Planning for future generations necessitates a legal ally with creativity, a keen eye for detail, and emotional intelligence with regard to family dynamics.

 If you pass away or encounter a life-changing event, you won’t be able to make sure your attorney is doing the right thing—that’s why proper planning today is so essential. If you need an experienced trust and estate attorney who will do everything to ensure your happiness with regard to your financial planning, use Premier Legal Solutions, PLLC to find the attorney that fits your exact needs.

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