Omaha, NE Estate Planning

One day we are all going to die. It’s the inevitability we must face, and yet so few of us plan for that day. That is a mistake, and it isn’t fair to your loved ones. It puts the burden of making difficult decisions on your family at an emotionally wrought time. Don’t do that to someone you love. Plan now and get your affairs in order, so there are no questions about what you wanted.

What’s the Point of Planning My Estate?

What’s the point? So many people have that question. You may think that you don’t need to plan your estate because you don’t have millions in the bank or you think you’re too young. Here are seven reasons you should consider an estate plan today:

  • Will allow you to appoint a guardian of your minor or dependent children.
  • You can name a beneficiary and arrange it so that they have access to your bank accounts after your death with no hoops to jump through.
  • It can detail your wishes in case you are unable to care for yourself before you die.
  • You can decide who gets your valuables.
  • Allows you to name a guardian for your minor children, if you have any.
  • Gives you the chance to provide for your loved ones who need economic assistance.
  • Dictates what should be done with your businesses and investments should you become disabled.

You Don’t Need to Be Wealthy to Plan Your Estate

You may not realize it, but you Do Not need to be wealthy to plan your estate. When you plan your estate, you have more control over what happens in the event of your death. Your loved ones will have a clear picture of your posthumous wishes, and there will be no disagreements about your funeral and burial arrangements. Planning your estate also makes it clear how you would like your assets divided.

You’re Not Too Young for an Estate Plan

Maybe you’re a professional in your thirties or a small business owner in your 40s? It doesn’t matter; you are not too young to think about a future when you are gone. Many lives are struck down at a far too young of an age and surviving loved ones are left scrambling to figure out your wishes.

How Can Estate Planning Attorney Help Me?

In reality, some people can draft a will without a probate or estate attorney because they don’t have many assets or investments. But there are many situations in which a lawyer’s assistance is required or is beneficial to your loved ones.

You Need an Estate Planning Attorney if:

You own multiple properties– Transferring properties is a complicated process, especially if you have several properties and would like to leave them with different loved ones.

You are confused about inheritance tax– Estate or inheritance taxes are confusing because they are governed by the federal government and state law. You can avoid leaving your loved ones with a big tax bill if you plan your estate correctly.

 

You have adopted children– If you have adopted children or step-children and you want to leave them something, you should consult with an estate planning attorney. When you fail to specify that adopted children or step-children should get part of your estate, an executor may not be sure if adopted children should be included in the will. You need to state that adopted, foster or stepchildren should be included in your estate and what they will be awarded.

You want to dictate how much each heir is awarded- Sometimes you want to leave one relative more or a particular item. In some cases, a child or heir who is left less than think is deserved, they can challenge your will in court. If you are not explicit, a court challenge may be successful, and your wishes are not carried out.

You are in a same-sex marriage- Unfortunately, same-sex couples don’t have the same legal protections as heterosexual couples. That means many LGBTQ partners are ignored by the family of their deceased husband or wife and not treated the way a spouse should be treated.

Setting up a trust- A trust is a type of monetary fund that allows you to distribute money or assets to a family member, friend or agency without paying a high tax bill. One of the estate planning attorneys can help you set up the following trusts:

Testamentary trust- This type of trust allows you to dictate how your assets and property are distributed when you pass away.

Inter vivos trust- Allows you to distribute assets to a relative while you are still alive.

Revocable trust- This type of trust allows you to take out assets and funds if you no longer need to want to maintain a trust.

Irrevocable trust– This is a trust that cannot be revoked once established. A person must get a court order to undo an irrevocable trust and even then, it is a difficult endeavor.

A probate court handles any issues with your estate; you can find the Omaha probate court location listed at the address below:

Douglas County Court Probate Division

County Court

1701 Farnam St.,

Omaha, NE 68183

(402) 444-7152

https://www.douglascountyclerk.org/

Setting up a trust is a complicated process, and it helps to have an experienced attorney on your side. You need to name beneficiaries, name a trustee, and fund the trust. Those may sound like simple tasks, but establishing a trust can take time and requires you make difficult decisions.

Other estate-related issues an attorney can help you with include:

Here are some of the ways an estate planning attorney can help:

Prepare a power of attorney

Reduce estate tax

Prepare will and oversee probate process

Execute will when minor children are involved, or an heir is physically or mentally impaired

Protect your estate from predatory creditors

At USAttorneys.com, you can locate a probate and estate lawyer in Omaha to organize your after-life affairs and ensure your family and loved ones honor your wishes. Call and arrange a consultation today and start thinking about your estate.

 

USAttorneys.com local office

299 Farnam Street Suite 300

Omaha, NE 68102

Phone: (402) 513-1532