Estate Attorneys carry out a wide range of duties. What are some of the primary functions they fulfill? What exactly does an estate attorney in Cincinnati do?
Draft “Last Will and Testament” documents
Making sure these documents are properly drafted, signed, and executed is a central function of an estate attorney. Full knowledge of the intricacies of Wills, and the variety of legal provisions they can allow for, is a central requirement of the job. An Estate Attorney’s job includes offering advice on what a Will can provide, and what options are available.
Help with financial plans to avoid estate taxes
What can you do to avoid having your assets taxed at a higher rate? How can you transfer assets without incurring tax liability? These questions are elemental. Full knowledge of the economic instruments available is crucial in the world of estate planning. The laws governing these instruments changes from year to year, so this job requires vigilant attention to financial news and legislative updates.
Protect assets from creditors after your death
Creditors have a million ways to lay claim on an estate. A great estate attorney can build the legal protections in to keep these vultures at bay. A well-crafted estate plan can put safeguards in place to keep your assets protected from unscrupulous debt collectors.
Plan living trusts
There are documents that go into effect after death, and others that can make for smart asset management while you are still alive. A smart living trust can address your desires while you are still around to see those plans fulfilled. Setting a plan for moving your assets into trusts can help you bequeath those funds to your loved ones, while you are still here to see it. You can set a schedule that fits your needs, and put provisions in place.
Create health care directives and power of attorney documentation
In the event that a medical emergency — or an accident — leaves you unable to communicate clearly and easily, it is wise to have directives in place clarifying your preference when it comes to your medical supervision. Rather than leaving your family to guess, make your intentions clear now by working with an estate planning attorney.
Avoid probate processes and unnecessary legal fees
You want your heirs to have an easy time with logistics and legal concerns after your death. Careful planning will prevent them from needing to deal with lawyers and courts at all. A proper, precisely executed set of estate plans will save your loved ones time, money, and potential headaches. The less they have to deal with, the better. Paying for proper legal advice now will prevent them from needing to do damage control after you’ve left them.
Cincinnati Estate Attorneys – Donnellon, Donnellon and Miller
To contact an experienced Estate Attorney in Cincinnati, contact Donnellon, Donnellon and Miller today.