The fact of life is death. You have a right, and perhaps a responsibility, to spell out where and to whom you want your property to go when you die. If you want to make sure your property ends up where you intended, you must have a will or trust. A Butte estate planning lawyer from Everett Cook Law can be your partner in estate planning.
Estate planning is not an area of law that many people want to interact with, however, it is one of the most important ways that you can protect your hard work and secure the future of your loved ones. Your loved ones may be left vulnerable and confused if you become incapacitated or die without an estate plan.
To protect your estate and legacy, reduce taxes, and provide support for your family long after you are gone, you need an experienced estate planning lawyer on your side to help you put together a plan. If you want to develop an estate plan that is right for you and your family, the estate planning lawyers at Everett Cook Law can help you. We understand Montana law and will work with you to develop a plan that fits your specific financial situation. Contact us today at (406) 563-5005 to get started on your estate plan.
What is Estate Planning?
Estate planning is the process of determining how your assets will be managed and disposed of after your death or if you become incapacitated. There are different legal instruments that are used to achieve this, and your estate planning lawyer will advise you based on your financial situation and your goals for you and your family. A good Butte estate planning lawyer will consider your individual needs, no matter the size of your estate, and develop a tailored plan to protect your family’s future.
Estate Planning Instruments
There are different instruments that are used to actualize your estate planning goals. Your assets, financial obligations, and goals will determine which ones are necessary in your estate plan.
Last Will and Testament
A last will and testament is typically the foundation of an estate plan. It identifies the properties in your estate, as well as the beneficiaries of your estate. It also names an executor who is in charge of managing your estate, settling the debts of your estate, and distributing your property to your beneficiaries. While a will is the most widely used legal instrument in estate planning, it may not be the most cost-efficient option for you and your family because of the probate process.
A trust is another option for managing your property for the benefit of your beneficiaries. One of the advantages of a trust over a will is that the transfer of property in a trust to your beneficiaries does not go through the probate process. This helps to keep your dispositions private and minimize the tax obligations of your beneficiaries.
Power of Attorney
A power of attorney authorizes an appointed person to act and make decisions on your behalf if you become incapacitated and unable to do so yourself. A power of attorney can be used to appoint different people to make business, financial, and health care decisions for you.
Get In Touch With A Butte Estate Planning Attorney Today
At Everett Cook Law, our caring and professional attorneys will work with you to develop an efficient estate planning solution to suit your individual situation. We take the time to explain your options and the legal process involved. We understand how critical an estate plan is for every individual and our experienced Butte estate planning lawyer will put in the time and resources to ensure that your plan represents your goals and objectives for your beneficiaries. Contact us today at (406) 563-5005 to schedule a free consultation.