People who want to spare their survivors the burden of settling their estates after they pass away may take steps now to plan out and settle their financial affairs. When people stipulate how they want their estates handled, they may need additional legal help to accomplish this task. Rather than rely on self-help books or unskilled individuals who may lack the proper training to handle this matter, people may be better served by hiring the Law offices of Cheryl Takabayashi for Estate Planning in Honolulu, HI. When they hire competent legal counsel, clients can be assured that their wishes are carried out and that their survivors are spared the challenge of settling their estates for them.
Lawyers in this area of law can advise clients on how to distribute their liquid assets. For example, if people want to make a charitable contribution to their favorite charities, their lawyer can tell them whether or not to make that donation now or to wait for that money to be sent after they have passed. Likewise, if people want to leave inheritances for surviving family members, their lawyer can tell them how to plan this out so that their estate avoids paying a large amount of taxes. The laws surrounding estate taxes continuously change. An attorney who practices in this area of the law will know the current mandates and be able to plan out a client’s estate in a manner that abides by the current laws.
If survivors are left to handle these matters, they may argue about how the money should be divided. Many people prefer to spare their loved ones this conflict by dictating to their legal counsel how they would like their assets and property settled after they are gone. This dictating typically involves people drawing up a will and making sure that this will is executed after they are gone. Their lawyer can keep a copy of the will on file in his or her office and read it to the survivors after the client dies. Having a will drawn up and ready for execution can ensure that surviving family members stay free of conflict and know exactly what the deceased loved one wants done to his or her estate. The will can include information on whether or not to sell a house, to whom the insurance policies should be paid, and other pertinent details.
