No one likes to think about mortality, but a bit of related planning and preparation can go a long way. Working with a law firm like Beress & Zalkind PLLC is the best way to ensure that a person’s hard-earned assets will be protected and distributed as wanted after their passing. As a variety of resources found online at bzlawgroup.com make clear, there are quite a few reasons to consider scheduling an appointment.
Safeguarding Assets So They End Up Where They are Wanted and Needed the Most
Hardworking individuals who spend decades amassing assets and personal wealth often face difficult decisions about what to have done with them later on. When a person of means passes away without having made sufficiently specific prior arrangements, the fate of so much of value can easily be cast into doubt.
Working with Beress & Zalkind attorneys at law or similarly qualified professionals will make it easy to put such concerns to rest. Some of the types of issues that lawyers will be able to resolve for their clients include matters involving:
Creditors. Before an estate can be divided up and distributed, creditors will normally be allowed to make claims based on amounts that they are still owed. Failing to address this issue is one of the most reasons for troublesome probate processes, and creditors will rarely be inclined to cooperate in order to make things easier. Fortunately, assets can almost always be protected such that they will be distributed as originally hoped, even when significant debts remain after a person’s passing.
Charities. Many wealthy people hope to leave significant amounts of their assets not just to relatives but also to worthy organizations. In just about every such case, it will be advisable to make corresponding legal arrangements while the individual in question is still alive. Establishing a trust or analogous legal structure can make the process of asset transfer far simpler and more secure.
Taxes. Many large estates end up succumbing to unnecessarily unfavorable tax treatment that can reduce their overall value significantly. Once again, attorneys will often be able to help their clients arrive at arrangements that help keep the associated toll as low as possible.
Providing Confidence and Peace of Mind
Spending even a bit of time going over such issues with an attorney can pay off far more than many would expect. Taking an active stance regarding the protection and disposition of a person’s estate while still alive will always be by far the best policy.