Conflict often occurs when valuables are passed on. An estate plan is a method of simplifying the process of leaving your things to loved ones and making sure your wishes are carried out. An estate plan attorney is the person who can help you through the process.
What is an Estate?
The word “estate” means all of the things that you own. This can include several things. It can include money, houses and other items that you own. It can also include things that are not physical, such as if you own rights to a book. Whether it’s physical or not, if you own it and it has monetary value, it is called an “asset.”
Physical assets are often referred to as “tangible assets”. Non-physical assets are referred to as “intangible assets.” “Tangible” just means you can touch it.
Some examples of tangible assets are: cash, land, cars, furniture and art. Examples of intangible assets are: patents, copyrights, trademarks and cryptocurrency (like Bitcoin).
So, your estate includes all of those things that you own.
What is an Estate Plan?
Perhaps in your lifetime you have seen the grief and anger that can surround the passing of a loved one who did not plan out how their things were to be distributed to family and friends. People are upset because of the death already. In addition, there is fighting over the assets.
A plan is a series of steps you take to achieve a goal. Your goal with an estate plan is to make sure your estate is treated the way you intend it to. By planning out these things in advance, you save yourself worry. You also save your family from the burden of a fight over assets.
What Does an Estate Plan Attorney Do?
An estate planning attorney has a series of steps they do to ensure that all your assets are known and accounted for. You will make your wishes known to them so that they can draw up a plan to carry out those intentions. They make sure you know all the laws involved so that you can make effective decisions on how to handle your estate. It’s an estate plan attorney’s duty to help you through the process from beginning to end.
Helping Your Loved Ones
You want your loved ones to inherit possessions that can help them after you pass. You don’t want them to inherit the terrible stress and pain of an estate that is being fought over. Or, an estate that simply can’t be distributed because of legal snags. Improperly handled, an estate in the courts can be stalled for months or even years, denying the people you care about the very things you intended to leave for them.
Contact Bolinger Law Firm for Your Estate Planning Needs
There’s no better time for preparing for the future than today. Bolinger Law Firm is here to help you simplify the process of making sure your wishes are carried out.
Located in Manchester, Missouri, we proudly serve clients throughout the St. Louis area such as Chesterfield, Wildwood, Earth City, Maryland Heights, Ellisville, Ballwin, Manchester.