Estate Planning

Welsh Law Estate Planning

The concept of Estate Planning involves the most tax effective and least cost manner for the passage upon death or, even before death, of the assets of a person to another person or persons selected to receive them.  The process involves an examination of what the assets are and to whom they should go at the choice of their owner.  An assessment or catalogue of what the assets are is the first step in the formulation of an Estate Plan.  Any real estate must be looked at rather specifically.  The manner by which title is held will determine even whether any real estate is part of an Estate.  Similarly, investments, bank accounts, life insurance, retirement plans and pensions may or may not (depending on the manner of registration and any designation of any beneficiary) form part of an Estate.

To help with this process, our office prepared an Estate Planning Guide you can download.  The Guide not only informs you of the issues you should consider, but also includes an outline to assist your solicitor in the preparation of the most advantageous distribution of your assets.

Please remember there are some strict legislative rules regarding the required manner for signing enforceable Wills.  If in doubt, before even starting or, for that matter, altering an existing Will, we strongly recommend that you seek the assistance of a lawyer.

Correlative to the preparation of an appropriate Will is the preparation of appropriate Powers of Attorney (one for “property” and the second for “personal care” the latter sometimes referred to as a “Living Will”).

In our office, we always complete Wills together with Powers of Attorney at the same time as they must work together to address not only a person’s wishes following death, but as well, his interests prior.

For a consultation, please do not hesitate to contact us.

One comment

  • Great post! It’s always nice to see lawyers giving out great information for free! I’ll have to check out more of your post and when we start posting on our blog I hope you’ll come take a look!

    May 29, 2018

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