Few areas of law are more sensitive or more consequential than those dealing with wills, trusts, and other elements of the estate planning and administration process. Even if you have dealt with the probate process, been a beneficiary of a family member, or served as an executor of a loved one’s estate before, making your own estate plan or handling the upcoming administration of such a plan can be almost impossible without guidance from a seasoned legal professional.
Retaining a Mount Laurel trusts and estates lawyer could make a world of difference when it comes to the legal division of a deceased individual’s property and assets. Whether you want to plan ahead for your own affairs or handle those of a family member, guidance from a qualified attorney could be crucial to ensuring a positive and mutually agreeable outcome for everyone involved.
Establishing a Comprehensive Estate Plan
While a person’s last will and testament generally forms the backbone of their estate plan and overrides all other directives if there is any conflicting information, there are various other documents that a Mount Laurel trusts and estates attorney could help draft to be enforceable and incorporated into a larger plan. For example, placing certain assets into trusts may be able to help shorten the probate process following a testator’s death, circumvent certain tax obligations, and ensure that particular assets can be held on behalf of underage beneficiaries until they become old enough to manage them on their own.
Additionally, many estate plans include documents known as “Living Wills” which detail a testator’s wishes for end-of-life care, as well as designations for who should receive certain powers of attorney to act in their medical and/or financial best interests. In the event that an estate owner becomes severely incapacitated prior to their death, these directives can prove essential to making sure their last wishes are upheld.
Finally, guidance from legal counsel can make the process of forming a business succession plan much simpler, whether that plan addresses a few fiduciary interests, the division of a family-owned operation, or responsibilities to a large corporation.
Helping with Estate Administration
In addition to the estate planning process, skilled trusts and estates lawyers in Mount Laurel can also help execute on the instructions within an estate plan after the testator passes away. While the responsibility of managing the estate administration process will ultimately fall to the executor designated in the decedent’s will or a court-appointed administration, a qualified legal professional could offer irreplaceable advice about how best to follow a testator’s instructions in accordance with state law.
Legal counsel could help manage the probate process and ensure that it proceeds as efficiently as possible, collect and file all necessary documentation, handle fee payments, and facilitate the accurate valuation of estate property. They also could represent the interests of either the estate or an individual beneficiary if any estate-related matter requires court intervention to resolve.
Speak with a Mount Laurel Trusts and Estates Attorney Today
Trusts and estates law can be uniquely complex and difficult for those individuals to comprehend, no matter the size of the plan in question. If you want to minimize the hassle for your family or mitigate your own stress during estate administration, you should strongly consider seeking help from someone who has helped others through similar situations before.
A dedicated Mount Laurel trusts and estates lawyer could stand by your side throughout every step of estate planning or administration proceedings, working tirelessly to protect your best interests. Call today to learn more.