One of the primary reasons why it is a good idea to work with an estate planning lawyer when you are interested in creating a holistic plan for the future is because of the personalized service that they provide.
Every family is unique, and every individual has his or her own particular vision. Exactly what you want to accomplish may be different from the next person, and this is why there is no “one-size-fits-all” estate plan.
Another reason why personal attention is key is because of the fact that estate planning is a form of financial planning. Exactly what you have and how you have it positioned is going to impact how you should arrange for the transfer of your assets. And of course the realities of the federal estate tax are something to take into consideration if your assets exceed the exclusion amount.
One should also consider the difficulties that can arise during the probate process. Depending on your situation and the precise nature of your intentions your estate planning attorney may recommend a revocable living trust rather than a last will to avoid probate.
Incapacity planning is something else that you should address, and this requires the execution of specific legal documents.
When it comes to something as important as your legacy you need expert representation. The wise way to proceed is to develop a good ongoing relationship with an Ashland KY estate planning lawyer or northern Kentucky estate planning attorney who will gain an understanding of your situation and give you sound advice every step of the way.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
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