Lancaster Estate Planning Attorney
You want your children and grandchildren to be secure. You believe the will you drafted 10 or 20 years ago will protect you and your children, or grandchildren, from creditors. However, in some cases, it may not. Life happens. America is a litigious nation. People are greedy and file frivolous lawsuits every day. If you have an old estate plan, or no estate plan, it is time to act. Every estate plan needs an asset protection element. A Lancaster estate planning attorney can help you draft an effective estate plan that protects your interests, as well as your loved ones.
Protecting Your Assets With a Lancaster Estate Planning Attorney
What does a sound estate plan achieve? Life is full of surprises and unpredictable events. A sound estate plan attempts to plan for these events.
First, the estate plan must protect you and if applicable, your spouse. This includes provisions that protect your estate from creditors and frivolous lawsuits during your lifetime. It must also protect your children against similar threats after your death. Relationships change. Your estate plan needs to protect against future divorces and marriages for your children or grandchildren. Do your children make poor decisions? You can manage how you children’s or grandchildren’s inheritance is dispersed.
Herbert Law Office is dedicated to protecting your assets and rights. Contact us today to speak with a Lancaster estate planning attorney.
What Is Probate?
Probate is a legal process, supervised by the court. Probate allows the appointment of someone (e.g. spouse or child) to administer a deceased person’s estate. This means the appointee must administer the estate. Tasks include paying taxes, inventorying assets, paying debts and transferring assets to beneficiaries.
Of course, probate can be time consuming and costly. If you die without a will or trust, your estate might be subject to probate. However, a carefully drafted estate plan can avoid probate, or limit the need.
“I always have tomorrow.”
“I am too young for a will.”
“We don’t have enough assets for a will.”
Wills are not just for the elderly or rich. Every adult should have a will. You never know what will happen and when. Therefore, it is important to draft your will sooner than later. Doing so ensures your plans will be carried out. It can also eliminate stress. Wills also need to be adjusted from time to time. If your will is old, it is time to re-evaluate the will. Furthermore, wills can help avoid probate.
Trusts are not just for the rich. There are many circumstances where a trust make sense for the “average person.” These instruments are powerful tools to plan for your current needs and well into the future. Trusts can be used for:
- Managing taxes
- Charitable contributions
- Controlling when beneficiaries receive assets
- Managing special needs distributions
- Business succession planning
Similar to wills, establishing a trust early is beneficial. A Lancaster estate planning attorney at Herbert Law Office can assist you in determining your estate planning needs. We assist with the following types of trusts:
- Living revocable
- Generation skipping
- Life insurance
- Special needs
- Credit shelter
Powers of Attorney and Health Care Directives
There are two very important documents integral to an estate plan. These are the power of attorney and health care directive. A power of attorney provides your consent for another to make critical financial decisions for you during incapacitation. A Health Care Directive provides for the same, but for important healthcare decisions. These two documents give another a lot of power. You should consult with a Lancaster estate planning lawyer to discuss your options.
Business Matters – LLCs and Corporations
During your lifetime you may engage in business matters, which may include starting, operating, acquiring or selling a business. There are many specific situations where businesses need legal guidance. Herbert Law Office can assist with all your business needs and therefore ease the burden of navigating business law. We can assist with:
- Contract review, preparation and negotiation
- Sole proprietorship assistance
- Purchase and sales
- Corporate formation
In addition to assistance with the specifics of contract formation, contract disputes happen. If you find yourself in a contract dispute, or foresee one happening, call us today!
Mediation is useful alternative to resolving disputes outside of court. Court and trial can be expensive and lengthy. In mediation, the parties agree to allow a mediator to assist in reaching a settlement or outcome. This can allow a dispute to be resolved out of court, quickly and privately.
Experienced Trial Attorneys
Sometimes, no matter how hard you try, the courtroom is unavoidable. If your matter is trial bound, you can count on our experienced litigation team. We provide meaningful guidance as well as skilled representation. Call us today.
Debt Collection Matters
Debt collectors can be intimidating. They bombard you with scary letters and calls. You do have rights and options when it comes to handling your creditors. A Lancaster estate planning attorney can assist you in stopping threatening debt collectors from harassing you. We can also discuss reduction in payments or potentially set up new payment plan.
Contact a Palmdale Estate Planning Attorney
The Herbert Law Office is your one-stop shop for all your estate planning needs. We offer competitive rates and discounts to military, first responder, firemen, sheriffs and LAPD. Contact a Lancaster estate planning attorney today for a free consultation.