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Estate Planning Basics and the Law
By Eric Gehler
Estate Planning Basics And The Law
Having a plan that determines how your assets are used during your life and after your death is a
critical process that requires expert legal advice. Estate planning can help you decide how your assets
are distributed. You may need to set aside resources for your long-term care. Plus, you might need to
appoint someone to manage your estate in the event that you lose your own ability to do so. You may
decide that a portion of your estate should be given to certain charitable organizations. Each of these
circumstances can be included in an estate plan with the help of a lawyer.
Benefits Of Planning Your Estate
Without an estate plan, your assets can be distributed in a way that's contrary to your wishes. When
you die, a number of important legal issues regarding your assets emerge. The manner in which your
estate is divided amongst your heirs, how taxes are handled, donations to charities and transfers of
property are only a few of the many concerns an estate plan can address.
With the help of an experienced estate planning lawyer, you can ensure that your assets will be used
according to your wishes. Your plan can distribute assets from your estate to your beneficiaries quickly
and seamlessly. Your lawyer can help you determine an executor of your estate in the event of your
death. An estate plan can minimize the taxes owed by your estate by giving the allowable maxim