Estate Planning & Probate
Here at the Law Office of Peter
C. Edwards LLC, we perform and draft simple estate plans as well as
more complicated plans to avoid estate tax on estates in excess of
$1,000,000.00. It is essential for everyone to have even the simplest
plan in place such as a will, a beneficiary deed to transfer real estate
upon death, or a trust. We advise all clients to put a plan in place
that will avoid the time and expense of probate court.
We
also handle the probate of wills, and establish
Guardianships/Conservatorships for minors and elderly people that have
lost the capacity to handle their affairs.
Wills
A will is a document that informs the court and
your family about the intentions you have about your estate. It is a
necessary tool for any person to utilize. Far too many families fail to
understand the importance of a will. If you do not draft a will, the
court will decide your intentions for you. Protect your decisions at a
reasonable cost, by contacting Peter C. Edwards.
Too
many people lack the necessary motivation to draft a will. A will is
important, especially for young families. A will memorializes your
intentions in writing. It can direct the court about the distribution of
your assets, beneficiaries, guardians for your children, funeral
arrangements, and healthcare decisions. Attorney Peter C. Edwards will
draft an appropriate will given your estate goals.
Legal Documents We Can Prepare
•
Wills: These documents are instructions to the court about the
distribution of your estate property at the time of your death.
• Trusts
•
Ancillary documents: We will draft other documents related to the
protection of your estate.
•
Durable Power of Attorney (for non-health issues): These documents
grant a person power to make important financial decisions for you after
your incapacitation or death.
•
Durable Power of Attorney of Healthcare: To appoint someone to make
decisions about your healthcare when you are unable to do so, consider
creating a durable power of attorney.
•
Living Wills (medical directives): These documents, define what types
of medical treatment you wish to receive, and how long you would like to
prolong your life.
• Determining a guardian
for children: Choose whom you want to care for your minor children after
your death by naming a guardian in a will.
Probate and Estate Administration
Probate
and estate administration does not have to be an intimidating and
confusing process. When this process is handled by an experienced
attorney, your family does not have to worry about what to do. Take the
burden off settling the estate of a deceased family member at a
reasonable cost by contacting Peter C. Edwards.
What is probate or estate administration?
Probate settles the estate of a deceased
individual. This process generally takes anywhere between four to twelve
months. Whether or not there was a will, probate is the process of
settling the affairs of an estate before distributing property to the
beneficiaries.
• Probate with a Will: If a person dies with a
will, probate serves to certify the validity of a will.
• Probate without a Will: When a person dies
without a will (intestate), the court must distribute the property of
the will in accordance with statute.
Estate
Administration
Peter C. Edwards will ensure
that an estate is administered properly. Estate administration refers to
the process of settling the estate of a deceased person. It is
necessary when a person dies with or without a will.
Steps
of estate administration include:
•
Conducting an inventory of all the estate property
• Notifying any creditor of the estate
• Paying off any estate debt
• Notifying any beneficiary of the estate
• Distributing the estate property in accordance
of the will or statute
We also represent people during
probate litigation such as a will contest. Common issues litigated
around an estate include duress, fraud, undue influence, breach of
fiduciary duty, and overreaching.