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Essay On Estate Planning Attorney

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An estate planning attorney is a vital factor in creating strategies to safeguard estate assets. Attorneys that specialize in this niche help people write a Will, establish trusts, power of attorney forms, and healthcare proxies. Employing an estate planning attorney is beneficial for people that want to avoid probate or minimize the amount of assets left in the estate. Probate is necessary in the U.S. to make certain estates are legally settled and heirs receive their rightful inheritance property. Probate can be a lengthy process that can make the estate vulnerable for having the last will and testament contested. Whenever relatives contest a Will the probate process can be prolonged for many months. Defending the estate can be costly and oftentimes forces estate agents to sell assets to cover legal expenses. …show more content…

A few of the most common methods include establishing assignment of beneficiaries for titled property, financial assets, and life insurance proceeds. The average amount of time to settle estates through probate court is 4 to 6 months. The process is further prolonged any time a person dies without writing a Will. This kind of estate is referred to as 'intestate' and will require additional time to fulfill compliance requirements. Employing estate planning lawyers can be particularly beneficial when family members do not get along very well. It is an unfortunate truth that death can bring about family disputes over inheritance. It isn't uncommon for family members to argue over valuable property and family heirlooms. If heirs feel entitled to property that wasn't gifted to them in the Will they can file a lawsuit against the estate. As mentioned earlier, legal fees can become expensive. Not only do estate agents have to hire a defense attorney they might also end up paying Plaintiff attorney fees if the judge rules in their

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At the closing of the estate there were no cash assets and realistically Sam would have had to sell his house to raise the funds to pay the debt. Having a probate sale would have cost more money and would have left Sam without a house to live in. As a family friend, I wanted to help prevent that, so I agreed to be paid outside of probate and attached a lien to the property located at 864 Del Rio, Encinitas, California, through a recorded order, signed by Honorable Judge Jeffrey Bostwick in the amount of $15,678.26. 4. Before his death, Samuel G. Hernandez paid $7,000 towards the probate fees.

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I MUST get the inheritance. I cannot lose it to my father’s thieving wife or get caught. August

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Answer: if someone passes away and they do not have a will, their estate will enter intestate procedures. Each state has different procedures for handling assets these assets, but the fundamentals are technically the same. Within most states a percentage of the assets (ranging from half to two thirds) will go to the deceased children, with the remaining going to the spouse. If one of the parties mentioned above are non-applicable, the assets would shift fully to the applicable party. Complication may arise is there are no children or spouse alive.

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I believe for the pro of the defense is to prepare for a trial. According to an article by Jane Portman, a defendant has a right to adequately prepare the defense because it typically takes a minimum amount of time between entering the plea

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My soon to be ex-wife Maria Luisa Paredes and I Arturo Paredes have purchased a burial plot under both of our names in the year 2003. I was informed by the Garden of Angels Cemetery that in cased I died before Maria the Cemetery would need Maria’s authorization so I can be allowed to be buried in the burial plot that we buy together. All I am asking to the court is for Maria to agree in writing that she will give her authorization to the Garden Angel Cemetery for my body to be buried in our burial plot in case I die before her. I also agree to give my authorization for Maria’s body to be burry in the case that she goes before me

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FitzGerald, Yap, Kreditor LLP attorneys know that handling and protecting all your assets can be an intimidating and complicated task. That is why FitzGerald, Yap, Kreditor LLP law firm included various practices to safeguard individual assets and one such practice is the estate planning. Their attorneys in the estate planning department helped different clients ranging from single parents to big Fortune 500 companies in finding lasting solutions of their complex legal and financial disputes. They work closely with their clients to fully realize their objectives and develop comprehensive plans to achieve those goals. Lawyers at FitzGerald, Yap, Kreditor LLP law firm provides a comprehensive estate planning solutions to individuals and families

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The Succession Act does highlight, however, what the courts can do if a testator is found to not have testamentary capacity. Sections 21-28 mention that if a testator does not have testamentary capacity, then the courts can either make, alter, or revoke a will for a testator. Having this procedure in place is helpful as it can be difficult to know what should be done when it is discovered that a testator does not have testamentary capacity, but still wants to draft a will or plan their estate. On the contrary to this, it is also difficult to know whether this route can be taken, if there are no procedures in place for testamentary capacity. This is where issues can begin to arise.

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The lawyer is a selfish and well off man who cares little about his

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Introduction Estate taxation has always been the controversial issues for tax policy for years. There are people who are adherent to this kind of levy but there are also people who are not in favor of this type of tax. Supporters of estate tax argue that this tax helps cut down controlling powers and promotes fairness of economic opportunity – to distribute the assets of the rich (ctj Q&A). Critics on the other hand argue that estate taxation lessens the incentives for wealth accumulation in two ways by reducing the incentive to make revenue and by adding the incentive to spend (Kopczuk & Slemrod, 2000). Estate tax discourages savings, harms small enterprises and farms, and death is an inappropriate time to impose a tax (Gravelle, 2003).

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It is the truth of life that death is inescapable. Though it is a disagreeable matter, it must be faced and be ready for. With a funeral insurance plan, not only does it ensure that one's funeral is prearranged and paid for in advance but also it unburden and helps to relieve the stress of the family members or beneficiaries left behind. Funeral insurance, also known as burial insurance or final expense plans, is a life insurance coverage that is designed particularly to pay for your funeral.

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For example, the parent of the child wants their property to be pass after their death, they will make a will and testament stating that after their death, their property will be transfer to their child. The child must be old enough to manage the properties. In contrast to testamentary trust is the living or "inter vivos" trust. Inter vivos trust is a non-testamentary trust which is the created through agreement and takes effect on the lifetime of the trustor. For example, if the wife don't own many properties or if she plan to leave it all to his husband, a will may serve her better.

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History of the Estate Tax Estate tax was imposed way back in ancient times about 3000 years ago. In Egypt in the early era, it had been required to have a 10 percent tax on the transfer of assets at the time of death. Even in the first century AD, Augustus Caesar imposed taxes on inheritance and transfer of properties to all but close kin. In medieval period, since all estates and properties are owned by the king, an heir who wished to transfer properties must pay transfer taxes in order to grant him the right of use of the property.

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Do you have minor children? Who will take care of the children if you die? This is the number one reason for you to make a will. You do everything you can to be a good parent. Make sure you make a will and have plans for your children’s care if you are no longer around to do it.

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