Estate Planning Attorneys in Salisbury
Helping Our Clients Build Better Futures for Their Families
People often imagine an estate plan in terms of a will that determines who gets what after you pass on. While this can be true for smaller, simpler estates, it can be a missed opportunity to not take advantage of other aspects of estate planning that look after your long-term care, tax planning measures, and more.
At Hearne & Bailey, P.A., we can help you achieve what you need to get done with your estate plan. Even if you don’t know where to start, we can guide you through the process so you will know all of the options available to you. Your input informs our advice, which means that we’ll carefully listen to what you want to accomplish and respond with options and services that can support your goals.
If you are someone who is currently dealing with matters concerning what a loved one left behind, we offer representation to help executors through the estate administration process. We can also provide estate litigation services if you need to initiate or respond to legal action concerning a loved one’s estate.
Don’t Pass on Without a Plan
Dying without an estate plan, even a simple will, can be problematic for your loved ones during the probate process. Your estate will be deemed intestate, and laws governing such estates will determine who your legal heirs are and what their inheritance will be in probate court. The administration of your estate can also be a time-consuming and costly experience for those you leave behind and can add to the heartache and grief they may already be feeling.
Needless to say, this is not an ideal scenario if you have any wealth or property you wish to pass on to your relatives or friends. A comprehensive estate plan prepared by our experienced estate planning lawyers in Salisbury can help you account for the details of how you want the artifacts of your life to be divided.
We can help you build or amend pieces of your estate plan with legal documents such as:
- A will, naming a personal representative for your estate
- Medical and durable powers of attorney
- Revocable living trust
- Advanced directives for medical care
- Long-term care plans
- Retirement planning
- Life insurance
Key Considerations for Building Your Estate Plan
Several key considerations every estate plan should account for include:
- What happens to your assets after you retire
- How you will afford a nursing home or long term health care
- The end-of-life medical care you want
- Who will inherit different parts of your estate
- Who will obtain guardianship of your minor children
- Who you will entrust your surviving pets to
- Any donations of your wealth to charity
Without answers to some of these vital questions, your estate may become subject to litigation after your passing. A thorough estate plan can ensure your wishes are fully known.
Estate Tax Planning Considerations
Most successful estate planning strategies include means of minimizing your estate’s exposure to income, estate, gift, and generation-skipping taxes. Reducing your estate’s tax liability means your loved ones can benefit from as much of your wealth as possible when you pass on.
Our estate planning attorneys in Salisbury can explain the potential impacts certain state and federal estate taxes may have on your estate. We can then advise you of your options for mitigating these circumstances.
At Hearne & Bailey, P.A., we can help you build an estate plan of any size or level of complexity. Our representation means you will get a personalized approach where we’ll invest time in finding out what’s important to you and providing options that can meet your goals.
When you’re ready to discover everything we can do for you, reach out to us online and request a consultation.