Estate planning involves a number of strategies, each designed to ensure your financial and medical affairs are in order so that an orderly management and, if applicable, transfer of property plans are in place at the time of your disability or death. Proper planning and documentation can play a significant role in tax reductions, the way your estate is handled in probate and ensuring your intended heirs receive the assets you wish.
Estate planning in Essex Junction Vermont can be complex, but without adequate protections in place, it could be costly for your loved ones after your death. It’s important your estate plan is accurate, complete and properly prepared so that all of your assets, whether you own them alone or if they are jointly held, don’t become a burden once they’re distributed.
Fortunately, there are a number of methods used to accomplish this. A few of those include:
- Revocable Living Trusts
- Last Will and Testament / Probate
- Lifetime Gifting
- Joint Ownership
- Beneficiary Designations
- Life Estates
Problems often arise when people aren’t thorough in their efforts of preparing a well-drafted estate plan. While your goal may be to leave all of your loved ones a portion of your assets, you also don’t want the government to end up as the primary beneficiary of what you’ve spent your life building.
Your first best step should be your choice of Essex Junction Vermont estate planning lawyers. A qualified legal advocate will be able to answer all of your questions, understand and then apply the latest and most effective strategies that maximize your estate planning efforts while also recognizing vulnerabilities and then address them so that they don’t become problems at the time of your death.
Our team of Essex Junction Vermont estate planning lawyers are ready to assist in these and many more areas of wealth management, estate planning and asset protection strategies. We also offer a digital library of complementary information on estate planning, setting up trusts, special needs planning and legacy planning. Be sure to attend any of our free estate planning seminars, too.
If you want to learn more about how to better protect your estate in Essex Junction, we invite you to contact us today for a complimentary consultation. Let us show you how to cover all of your bases while leaving no vulnerabilities for your loved ones. We want you to feel confident about the choices you make – let us be your guide on the path toward preserving your family’s future.