Estate Planning & Probate Services
The Law Office of Attorney Russell P. Canevazzi is ready to give your case the attention it deserves. In the area of finances, we provide you with estate planning and probate assistance, allowing you to determine how your assets will be pided after you are gone.
What is Estate Planning and can I do it myself?
Estate planning is a term describing the process of preparing for your future. Most lilkely you have already become involved in the process by getting life insurance, insuring your home, having a joint checking account or having your home in both your name and your spouse.
In the legal profession, we interview clients to determine thier goals and then make recommendations as to how to secure those desires. We discuss and recommend the legal instruments that can be employed. We design a plan that binds future actions and sets out your intentions so that they can be legally enforced, or provide that combination of control and instruction that make you comfortable.
When should I have a Will?
Wills are utilized to express your intentions and directions regarding your property and family subsequent to your decease. Consequently, wills are important once you own property or have a family. Younger people generally put off generating this instrument because they associate the document with their death which won't happen for many years. However, realistically we all know young people who have expired prematurely and left their families with many unanswered questions. Consequently, if you have thought about a will, now is the time to make one.
What should be in a basic estate plan?
A basic estate plan should address matters both now and in the future. It should exhibit thought and consideration over issues of heath care and finances while you are alive as well as upon or after your demise. Commonly an estate plan will utilize a homestead, health care proxy, durable power of attorney, designation of a guardian, and creation of a will. The plan may also utilize one or more types of trusts, some of which provide for minor children and family, or control of real estate, or as a means of diminishing the impact of capital gains taxes or more commonly, estate taxes.
The preceding comments are illustrative of the matters that are discussed with your attorney. Anyone can study these instruments and issues for themselves. This course of action is even recommended, but the creation of the necessary documentation is a task best performed by an attorney with indepth experience because the choice of language can be absolutely critical. Lawyers who dabble in this field frequently don't ask enough or the right questions, or don't properly set out the necessary terminology thereby frustrating the intent of the client or causing the plan to fail.