Estate planning is the process of disposing of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses. Guardians are often designated for minor children and beneficiaries in incapacity.
Estate planning involves the will, trusts, beneficiary designations, powers of appointment, property ownership, gift, and powers of attorney, specifically the durable financial power of attorney and the durable medical power of attorney. Virtually all estate planning attorneys now advise clients to also create a living will. Specific final arrangements, such as whether to be buried or cremated, are also often part of the documents. And more sophisticated estate plans may even cover deferring or decreasing estate taxes or winding up a business.
If you or someone you know is in need of an Estate Planning lawyer, please contact Warren McGraw Law Firm for a free case evaluation.