Roles and Responsibilities Of The Estate And Asset Protection Law Firm!

Are you suffering from a terminal illness? If so, you need to have an updated estate plan in place. But who will help you? Do not worry; the estate and asset protection law firms are there to assist you. Read the blog post to learn about the responsibilities and important aspects related to estate firms.

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Asset Protection Trust

Before discussing the roles of estate and asset protection law, the asset protection trust must be discussed first. An asset protection trust is a legal structure used to protect a person’s assets from creditors. 

One important thing to be noticed here is that the trust rather than an individual owns the assets. Hence, they are not subjected to legal claims against the individual.

Responsibilities Of The Estate And Asset Protection Law Firm

The estate and asset protection law firm provides several services to help their clients to protect their assets. They draft a plan for the distribution of assets after the passing away of their client. Some roles and responsibilities of an estate and asset protection law firm are:

Drafting Wills And Trusts 

The major duty of the estate and asset protection law firm is to draft wills and trusts. Who will receive the assets, real estate or personal property? All this is decided as per the outline made by the estate firm. However, the drafted will and trust are finally approved after the client’s approval.

Advice On Estate Tax Planning

If you need any advice related to estate tax planning, you can take the assistance of the estate and asset protection law firm. This way, clients can minimize the taxes owed on their estate after they pass away.

Asset Protection Planning

An estate and asset protection law firm help their client to protect their assets from creditors or potential lawsuits. They help create legal structures like trusts that ultimately shield assets from legal claims.

Probate Representation

If a client’s estate is going through probate, an estate and asset protection law firm will ensure that the probate process is carried out smoothly. They represent the client in court and work with other professionals to administer the estate.

Elder Law Services

An estate and asset protection law firm provide legal services to their older clients. They advise them on the issues related to long-term care planning, Medicaid eligibility, and guardianship.

Conclusion

Overall, if you take the assistance of a trust and estate planning services, you will surely benefit. However, there is a recommendation as well. You can contact Herbert Law Office, whose estate planning lawyer will serve your purpose. 

For more information, visit the website today.