The ability to retain control over the future of your estate is essential for both your well-being and that of your heirs. While it can be comforting to think of an estate plan as being something that will only be necessary in the distant future, the reality is that a sudden illness or injury could make these documents immediately essential.
It is vital that all adults have a comprehensive estate plan, which they could craft with the help of a dedicated attorney. A Junction City estate planning could work with you to understand your goals and identify your assets, drafting documents that have the intended legal effect in the present and the future.
Possible Functions of an Estate Plan
An estate plan describes the legal steps that a person can take to retain control over the future of their assets. The typical example is that of the will. A will informs a probate court about what a person wants to happen to their property after their death.
It is important to have a durable power of attorney, which gives one party the ability to make decisions on behalf of another and helps to avoid guardianship or conservatorship issues in the future.
It is also possible for someone to transfer assets at any point in the future through the creation of a trust. A trust allows a party to move property to another by allowing a trustee to gain temporary custody. That trustee must then distribute the property to the nominated beneficiaries at the predetermined time in the future.
Comprehensive estate plans can also provide instructions for future medical care, allow others to make legal decisions on a subject’s behalf, and give business owners the ability to plan for eventual retirement with a business succession plan. A knowledgeable attorney in Junction City could help an individual craft estate planning documents in a way that best reflects their wishes for the future.
The Estate Planning Process in Junction City
The primary goal of creating an estate plan is to have documents that carry the intended and full legal effect. This is a multiple-step process that a local estate planning attorney could assist with from day one.
The first step of estate planning is for an individual to assess their needs. A person’s needs will vary based on their family structure, assets, and desires moving forward. It is only after a party evaluates their desires that the drafting of the documents can begin. A skilled attorney in the area could help to select personal representatives, trustees, or other trusted parties as well as ensuring that all documents meet the relevant legal standards.
Contact a Junction City Estate Planning Attorney Today
Every adult should have an estate plan. Not only do these plans ensure that a person’s wishes carry legal weight in the future, but they could also bring immediate tax benefits and improve your quality of life. Estate plans may include wills, trusts, advanced medical directives, and other testamentary documents.
A Junction City estate planning lawyer could help to create these documents. From identifying your needs, to suggesting legal documents, to drafting the plans that give them the best chance for acceptance in court, an attorney is ready to help. Reach out today to consult with a legal professional about the future of your estate.