Experienced Estate Planning Attorneys
Estate planning is something that Farmington families need to consider, if they have high net worth with lots of assets or even if all they have is a personal residence, the importance of good planning doesn’t change. Your planning can be modified anytime as your needs change. Hence, it’s never too soon to start talking about estate planning. Here are some estate planning tips that every Farmington family should consider:
Start thinking about estate planning early.
An early start to estate planning will prevent last-minute stress for you and your loved ones and add clarity when you are gone. Your estate plan can always be updated if circumstances change, so it’s best to begin the process as soon as possible.
Hire an experienced estate planning attorney.
There is an abundance of capable, compassionate estate planning attorneys in Farmington and nearby areas. Schedule complimentary consultations with several attorneys to discover whose legal services are best suited for your needs while making you feel comfortable and empowered.
Plan for a division of assets.
Properly preparing your loved ones for the eventuality of your death typically minimizes hard feelings and even legal disputes. If you have an asset that cannot be divided, such as a home, you may want to consider an estate plan that includes selling the home and dividing the proceeds.
Work to minimize your estate taxes.
Estate tax, inheritance tax, or “death tax,” is a key component of estate planning because you want your hard-earned money to go to your loved ones, not the government. Your estate planning attorney will educate you on available strategies to minimize your estate tax and will work with you to determine the best course of action for your particular situation.
In addition to estate planning, Voyant Legal offers a number of legal services for Farmington families, including VA benefit planning.
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