{"id":1286,"date":"2020-09-03T18:42:26","date_gmt":"2020-09-03T23:42:26","guid":{"rendered":"https:\/\/dougnewbornlawfirm.com\/?p=1286"},"modified":"2020-09-03T18:42:26","modified_gmt":"2020-09-03T23:42:26","slug":"how-estate-planning-law-firm-help-you","status":"publish","type":"post","link":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/how-estate-planning-law-firm-help-you\/","title":{"rendered":"How An Estate Planning Law Firm Can Help You"},"content":{"rendered":"\n<p>How do you find a good estate planning law firm that you\u2019ll feel comfortable working with? Choosing an estate planning attorney to represent you is vital. From proper beneficiary designations to securing the financial future of your family \u2013 estate planning is all about protecting your loved ones even after you\u2019ve passed.<\/p>\n\n\n\n<p>For starters, you must know what questions and concerns to have that will lead you to the right estate planning lawyer you can hire. In today\u2019s post, we\u2019ve compiled a list of the importance and benefits of working with an estate planning law firm.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Estate Planning: Not Just for the Rich Anymore<\/h2>\n\n\n\n<p>A lot of people seem to think that <a href=\"https:\/\/www.estateplanning.com\/What-is-Estate-Planning\/\" target=\"_blank\" aria-label=\"estate planning (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"rank-math-link\">estate planning<\/a> is only reserved for the rich. However, that\u2019s not true at all. Even if you don\u2019t have an expensive home or expansive assets, you still must have a plan in place to settle all your affairs \u2013 so your loved ones are protected when you\u2019re gone.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large\"><img decoding=\"async\" src=\"https:\/\/dougnewbornlawfirm.com\/media\/estate-planning.jpg\" alt=\"Estate planning ensures your loved ones will know what your last wishes are.\" class=\"wp-image-1264\"\/><\/figure><\/div>\n\n\n\n<p>Main Benefits of Working with an Estate Planning Law Firm<\/p>\n\n\n\n<ul><li>You can choose which of your beneficiaries get what.<\/li><li>You can appoint your children\u2019s legal guardian after you\u2019ve passed.<\/li><li>You can help reduce taxes on the assets you leave behind.<\/li><li>You can minimize any family strives or unpleasant legal battles.<\/li><li>Protecting Your Beneficiaries<\/li><\/ul>\n\n\n\n<p>Estate planning is not for high-net-worth persons anymore. A lot of middle-class families must have an estate plan in place when something unexpected happens to the breadwinner (or breadwinners) of the family.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-medium\"><img decoding=\"async\" src=\"https:\/\/dougnewbornlawfirm.com\/media\/Paula-Z.-300x182.png\" alt=\"Doug Newborn review\" class=\"wp-image-1105\"\/><\/figure><\/div>\n\n\n\n<p>It doesn\u2019t matter how much assets you have \u2013 whether it\u2019s a second home or a sum in your bank account. <\/p>\n\n\n\n<p>If you don\u2019t correctly stipulate what happens to your assets when you pass away, the chance to take charge of what happens to it is also gone.<\/p>\n\n\n\n<p>That\u2019s because the main benefit of estate planning is proper asset designation to your heirs. Without leaving an estate plan, the court will have to decide who gets what. Typically, it\u2019s not as simple as the surviving spouse or surviving children getting everything. This process can take years and will accompany a lot of hefty legal fees.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Protecting Your Children<\/h2>\n\n\n\n<p>If you have small children, it\u2019s now more than ever that you should hire the services of an estate planning law firm. No one wants to think about dying, but <a href=\"https:\/\/dougnewbornlawfirm.com\/estate-planning-preparing-for-the-inevitable\/\" target=\"_blank\" aria-label=\"preparing for the unthinkable  (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"rank-math-link\">preparing for the unthinkable <\/a>is the best thing you can do to protect the future of your children.<\/p>\n\n\n\n<p>To make sure that your small children will have the care and guidance you wish for them to have even after you\u2019ve passed, naming their guardian in your estate plan is crucial. Without your appointment, the court will have to step in \u2013 and you certainly will want to have the final say when it comes to raising your children.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Protection Against Big Tax Cuts<\/h2>\n\n\n\n<p>Securing the future of your beneficiaries and children entails protecting them from significant tax cuts. One of the vital components of estate planning is the transfer and designation of assets to your heirs with the least possible tax cut or burden for them.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft size-medium\"><img decoding=\"async\" src=\"https:\/\/dougnewbornlawfirm.com\/media\/Anna-C.-300x176.png\" alt=\"Doug newborn review - ana cruz\" class=\"wp-image-1108\"\/><\/figure><\/div>\n\n\n\n<p>Even with a minor or smaller estate plan, you can minimize state inheritance taxes and estate taxes, and those taxes can get costly. Your estate planning lawyer can also guide you on how to reduce the income tax your beneficiaries might have to pay. <\/p>\n\n\n\n<p>However, without an estate plan in place, your beneficiaries may be looking to pay a hefty amount of tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">It Helps Avoid Family Conflicts<\/h2>\n\n\n\n<p>Unfortunately, it\u2019s a common scenario: a person with money or assets passes away, and the family he or she leaves behind fight over who gets what. One son or daughter may think they deserve to get more than the other, or the surviving spouse may believe that they should preside over the finances, even though the other family members know that they can\u2019t do so.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/dougnewbornlawfirm.com\/media\/elderly-couple-writing-will.jpg\" alt=\"Heirs and beneficiaries may have disagreements regarding estate management.\" class=\"wp-image-1257\" width=\"406\" height=\"271\"\/><\/figure><\/div>\n\n\n\n<p>Such family disputes and disagreements don\u2019t end up nicely \u2013 especially if they have to take their battles to court. When you have an estate plan, you can preemptively avoid these family conflicts. <\/p>\n\n\n\n<p>By deciding who gets to manage your finances when you die or become incapacitated will go a long way.<\/p>\n\n\n\n<p>If you want to quell any future friction within your family and ensure that your assets and finances are handled the way you intend them to be, work with an estate planning law firm.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From proper beneficiary designations to securing the financial future of your family \u2013 estate planning is all about protecting your loved ones even after you\u2019ve passed.<\/p>\n","protected":false},"author":7,"featured_media":1287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"_links":{"self":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/posts\/1286"}],"collection":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/comments?post=1286"}],"version-history":[{"count":0,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/posts\/1286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/"}],"wp:attachment":[{"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/media?parent=1286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/categories?post=1286"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.new.lawofficeresponse.com\/dougnewbornlawfirm\/wp-json\/wp\/v2\/tags?post=1286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}