Estate Planning, Wills, Trusts, and Probate
An estate plan is used to control the way an individual’s estate is disbursed after death. This is possible by using various estate planning devices such as wills, trusts, and powers of attorney. Also, through a combination of these various devices, it is also possible to minimize estate taxes, court costs, legal fees, and other expenses that would otherwise reduce the value the beneficiaries would receive. An effective estate plan is also directed at avoiding probate since it is often a costly and time-consuming process.
Estate planning is for everyone and can be accomplished at any stage of an individual’s life. This includes newlyweds, divorcees with children, and individuals or couples with special needs children.
At MB Legal Services, we help you through the whole process on an individual basis. We believe that establishing a longstanding and personal relationship with each and every client allows us to provide the individualized service that each client deserves. Please feel free to contact us for a free consultation.
Probate is a process that is initiated at the time of an individual’s death. It can be a costly and time-consuming process that often is best to be avoided. Probate has several purposes including dispersing the estate among creditors, beneficiaries, and other necessary expenses such as funeral costs and taxes. One of the goals of an effective state plan is to avoid probate. However, probate is an inevitable process in your situation, we are available to walk you through and be there every step of the way.
At MB Legal Services, we provide an individualized service to help you through every step of the probate process. Please feel free to contact us for a free consultation.
A Trust is an entity created to hold title to the property. Trusts are commonly used in estate planning due to several major benefits it provides. One of the major benefits is that it avoids probate, which can be a costly and time-consuming process. Another very beneficial aspect of a trust is that the terms of the trust are kept private since it avoids probate. Further, a trust can also provide great control as to how and when the property is to be distributed at death.
At MB Legal Services, one of the things we consider as part of an estate plan is a trust. Please feel free to contact us for a free consultation.
A Will is a common legal device used in many estate plans. It is used to allow an individual to decide who will manage the estate after death and how the estate will be distributed at death. However, a Will is subject to probate, which can be a costly and time-consuming process. Despite that, together with a trust, a Will is often an essential part of an estate plan.
At MB Legal Services, one of the things we consider as part of an estate plan is a Will. Please feel free to contact us for a free consultation.
A power of attorney grants another person to act on your behalf, whether in private affairs, business, or legal matters. Powers of attorney come in many variations such as the durable, health care or springing powers of attorney. Depending on your individual needs, powers of attorney can be crucial to accomplishing your estate planning goals.
At MB Legal Services, one of the things we consider as part of an estate plan is a power of attorney. Please feel free to contact us for a free consultation.
Estate Planning, wills, trusts, and probate