Although we’re all concerned about the future, we sometimes hesitate to look too far ahead because it can make us uncomfortable. But the reality is that none of us lives forever, and we have to ensure our families will be taken care of when we’re gone. Luckily, with a good estate planning lawyer in NH, the process doesn’t have to be complicated or difficult. Our team at Feniger, Uliasz & Stacey will help you work through the entire process so you can rest easy knowing everything is in order.
Estate planning doesn’t have to be complicated. Here’s how a lawyer in NH can help you settle these important matters.
Creating a Will
If there’s anything everyone knows about estate planning, it’s that you need a will. A lawyer can draft a will that specifies how you want your assets distributed after your death. They can ensure that your will is legally sound and compliant with state laws, reducing the risk of challenges or disputes. They can also help you appoint an executor so you can ensure that your wishes are followed.
Setting Up Trusts
Many people choose to establish trusts to avoid probate or minimize estate taxes. A trust can make it easier for your surviving family members to access and distribute your assets. There are also several different types of trusts. Lawyers can help you choose and establish the best type of trust (e.g., revocable, irrevocable, living trusts) to manage your assets during your lifetime and to provide for their distribution after your death.
Establishing Powers of Attorney
Estate planning isn’t just about settling affairs after your death. There are also circumstances when someone will have to make decisions on your behalf while you are still alive. Lawyers can help you establish power of attorney so only your chosen representatives can make those decisions. A lawyer can draft documents that designate someone to make financial or medical decisions on your behalf if you become incapacitated. These designations include durable powers of attorney for financial matters and healthcare proxies for medical decisions.
Planning for Estate Taxes
Not even death lets you escape paying taxes. Estate planning lawyers can advise on strategies to minimize estate and inheritance taxes, including gifting strategies, charitable donations, and tax-efficient trusts. These strategies can help your beneficiaries keep most of your estate or distribute your assets according to your wishes.