Estate Planning
For many leaving clear instructions about money, real estate and child care are important concerns.
Preparing detailed instructions for loved helps avoid family disputes, confusion and gives closure after passing. These instructions take the form of a will or trust. Otherwise, your property is distributed according to rules of intestate succession without regard for any desires you may have communicated to your loved ones during your life. This process is normally known as the feared word Probate.
JCM Law attorneys have helped clients secure peace of mind through estate planning. The process starts with setting your goals for passing on your property after you pass. We create a comprehensive estate plan based on achieving your goals in the most efficient fashion.
Importance of Wills
After you pass, your will shall be the effective communication of your final wishes. In drafting your final wishes we will work with you to avoid omissions and ambiguities which could result in disagreements among beneficiaries or confusion for family members.
Without clarity a family member or beneficiary feels may contest a which could become very expensive. In fact it could cost thousands in legal fees. At JCM Law we will use our knowledge of drafting and experience with the applicable laws to ensure estate plan is followed according to your goals.
Not all property is subject to probate, and one of the keys to effective estate planning is removing as much property from the probate estate as possible. Examples of non-probate property that transfers to your loved ones automatically and without court intervention include:
- Life insurance proceeds
- Bank and investment accounts with a named beneficiary
- Jointly held property
Often jointly held property will be the greatest help many avoiding probate. However, avoiding probate does not prevent that property from being counted for estate tax purposes and can have other tax implications as well. Our estate planning attorneys will help plan your estate to reduce cost for your beneficiaries down the road.