You have two choices about how your assets will be distributed to your heirs in the event of your death. First, it can be distributed in accordance with the express wishes contained in your estate plan attractive with the help of an estate planning law firm.
Second, they can be distributed in accordance with the laws of inheritance are set by the state legislature to you because you never found the time to make a will. You can also get professional support from experienced attorneys in Durham, NC.
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If you have an estate to leave to future generations and you reach your retirement years, it is only natural that your family will be curious as to who gets what.
Any one you owe money to at the time of your death has to be paid before any of the family can have anything. This is why it is important to have liquid assets available in order to clear up any bills that are outstanding, so that the family can start getting paid. An estate planning law firm can set this up for you.
There are many ways to make your estate look meager and non-taxable to the court in order to keep your estate intact and pass the bulk of it on to your family. The idea is to separate your estate from your assets and keep them out of the probate process.
An estate planning law firm can develop gifting strategies and living trusts that can be arranged to be available at a specified later date.
Finally, estate planning law firms can give you guidance in deciding on your final health care directive, or living will.