Estate Planning
Death of a Debtor
No matter the size of your estate, it is important to have as much control as possible over your investments, property and other assets. Estate planning refers to the many strategies and practices that can be employed to retain that level of control, even in the most dire of circumstances such as incapacity to handle your own affairs. It is important to understand that when you die, your personal debts do not get transferred to your surviving family members. The only way that your debt would be passed down to anyone else is if someone co-signed on a loan with you. What an estate planning lawyer can do is settle your estate (all your property) after death so that things like your home and other assets can go toward paying any outstanding debt.
Estate planning encompasses a wide variety of legal documents that can keep your assets safe from excessive taxation, probate and complete loss among other things. Price Law Group can help to establish trusts, wills, healthcare directives that not only serve to protect your assets, but can also include orders pertaining to who should become guardians of your children. These are all extremely important matters that simply should not be left to chance in the event that you can no longer execute the affairs of your estate. Taking care to plan for these events can set your mind at ease, knowing your loved ones will be taken care of and that your estate will be handled as per your wishes.
Settling Your Debts with Your Estate
Enlisting the services of a trustworthy and effective estate planning attorney is perhaps one of the most crucial things you can do to retain a comfortable level of control over your investments, property, possessions and the assets that make up your estate. You likely have concerns regarding what property can be inherited and what property will go toward paying off your debts. Each case will differ, as everyone’s assets are different and everyone owes a different amount of debt. Price Law Group has built a solid record of success through 20 years of practicing bankruptcy law and also helping clients to handle the affairs of their state. An attorney from Price Law Group can provide invaluable insight into matters of taxation and legal precedents related to estate planning issues, and will treat your concerns with the highest level of respect.