There is no one-size-fits-all estate plan because every situation is unique. Depending on the specifics of your wishes, the nature of your assets and the dynamic of your family there are a number of different ways to go about making preparations for the future. Because of this expert guidance is extraordinarily important.
It would be possible to make a mistake that your loved ones would be left behind to pay for if you do not proceed in the optimal manner. There are some advanced estate planning techniques that are appropriate under certain circumstances and the typical layperson would simply be unaware of them.
And frankly, not all attorneys are particularly well-versed in the intricacies of estate planning and elder law. This is why it is wise to work with someone who has dedicated his or her professional career to these particular aspects of the law.
For example, let’s say that you have someone in the family with special needs. This person may be relying on government assistance to one degree or another. Arranging for this individual to inherit something from you without losing his or her benefits involves specialized knowledge.
In addition, the complexities of the tax code come into play as well. Depending on the form that your resources are in a number of different approaches can be appropriate, and it is also important to understand the fact that the estate tax parameters are changing all the time.
Dedicated Indianapolis estate planning lawyers are going to be apprised of these changes every step of the way. Developing an ongoing relationship with such an attorney is the wise course of action so that your estate plan always remains up-to-date for the well-being of those that you love.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
- Updated Federal Gift and Estate Tax Figures for 2023 - January 26, 2023
- Why Estate Planning Is Important for Multi-National Couples - January 24, 2023
- When Do I Need to Update a Trust Agreement? - January 19, 2023
