Quick Estate Planning Overview
Asset Protection Planning - Asset
protection planning involves figuring out and applying a lawful series of
techniques that protect your assets from claims of future creditors.
Elder Law - Elder Law is a
relatively new specialized field of law that deals with the issues faced
by the fastest growing segment of the US population, the elderly.
Estate Law - The term
"estate" consists of all the property a person owns or
controls, whether in his or her sole name, held in a partnership, in a
joint ownership arrangement.
Estate Planning Overview -
While you're living and healthy, you value being able to make your own
Estate Tax - The estate tax is
payable by your estate - it is usually paid by the estate of the decedent
before property is distributed to the beneficiaries of the estate.
Inheritance Rights - Leaving a will is
the best way to ensure heirs or descendants may inherit from your estate.
IRA & 401(K) Planning -
The new law gradually increases the amount you can contribute each year
to a traditional IRA or Roth IRA.
Last Will and Testament - A
Will is a written document, generally prepared with the help of an
Living Will - Living Will is the
popular name for a document spelling out the general kinds of medical
care you would want.
Power of Attorney - Some people simply
are not able to manage their own financial affairs. For these people,
there are a number of courses of action.
Probate Court - Probate will is the
process by which legal title of property is transferred from the
decedent's estate to his/her beneficiaries.
Probate Court Records - A probate court
record is a record that contains all information that was involved in a
probate court case.
Special Needs Trusts - A special needs
trust holds title to property for the benefit of a child or adult who has
Trust Planning - Trusts come in a variety
of forms and can be established in many different situations.
Our firm handles Estate Planning matters which is the area
of law dealing with the distribution of an individual's property at his
or her death, using wills, taxes, insurance, property and trusts so as to
gain maximum benefit of all laws and, at the same time, carrying out the
Estate Planning is the preparation for the distribution and
management of a person's estate at death through the use of wills,
trusts, insurance policies, and other arrangements, especially to reduce
Estate planning and probate administration are linked
together, but they do have their differences.
In estate planning, individuals and/or businesses map out
where and what they want to happen to themselves, their legal property,
and their assets. Specifically we can draft wills and trusts (revocable
Probate administration occurs after death. An individuals’
will is put into effect and orderly distribution of assets occurs. This
is the phase when inheritance tax is paid and where will
contest may occur.
At Kaba Law Group, P.L.L.C., we understand the complexities
that go into estate planning and probate administration. We help our
clients understand what they need to do in order to protect what they
have worked so hard for. We will litigate matters if necessary to ensure
that our clients wishes are carried out.
While you're living and healthy, you value being able to
make your own decisions about your finances, property, health care, and
raising your children. Should you die or become incapacitated, you hope
others will handle these matters for you according to your wishes.
The only way to assure that will happen is through estate
planning. This process involves weighing various personal and financial
decisions and creating legal arrangements to carry out those decisions.
Good estate planning is more than just a simple Will. It
minimizes potential taxes and fees (including Federal and State gift and
estate taxes), and sets up contingency planning to make sure wishes
regarding health care treatment are followed before and after death. A good
estate plan also coordinates what happens to a home, investments,
business, life insurance, employee benefits (such as a 401K plan) and
other property in the event of disability or death.
If you or someone you know needs the assistance or legal
counsel of an experienced probate lawyer, contact the Law Office of Kaba
Law Group, P.L.L.C.