Legal terms regularly sound rather confusing to consumers which makes them hesitate in getting an attorney, even when they need one. One of the more confusing terms is estate planning. What is estate planning?
As an estate planning attorney in Raleigh, let me help break that term down a bit. Estate planning law simply means an estate planning law attorney is going to work on anything an individual or family could need to help prepare them and their loved ones for when someone is incapacitated or dies. Let me give a few examples.
Examples of what an estate planning attorney does on a day-to-day basis to help clients are:
- Wills: A will is usually the cornerstone of an estate plan. The will, very simply, prepares your family for what happens at the end of life. It names caregivers for minor children, determines where assets are distributed, and so much more.
- Trusts: A trust can also be a very big part of an estate plan. A trust can help protect assets from probate and creditors after a person has passed away. A trust can help with the management of assets once the individual is no longer able to manger it themselves due to incapacity or incompetency. A trust can also hold assets for loved ones, like minor children, under the care of a responsible individual until they are mature enough to take over management themselves.
- Advanced Care Directives: Also advanced care directives can be a part of an estate plan. Advanced Care Directives can let an individual determine who will be able to make decisions about healthcare, finances and end-of-life matters if the individual is unable to.
There is so much more that goes into an estate plan overall. If this is still rather confusing to you, don’t worry! Many people feel just like you do. Contact me today and I would love to explain what this would look like in your family!
