Cary, NC | Apex, NC | Raleigh, NC | Wake Forest, NC | Holly Springs, NCYou've worked hard your whole life to provide for your family and make your loved ones feel more secure. Without appropriate estate planning strategies, much of the significant assets you have accumulated may end up with the IRS and state taxing authorities. Our estate administration regularly assists affluent families with such sophisticated planning strategies as Family Limited Partnerships or Limited Liability Companies, Personal Residence Trusts, Irrevocable Life Insurance Trusts and a wide range of charitable gifting techniques to reduce Federal Taxes, gift taxes and generation skipping transfer taxes. At Chambers & Ennis, serving the Cary, Apex, Raleigh, Wake Forest, and Holly Springs, NC areas, our estate administration works hard to ensure your assets are organized and in order. Our team of estate planning attorneys are dedicated to helping clients make educated, informed decisions about their assets and will work with you and your team of financial advisors and CPAs to implement a highly sophisticated plan. Our attorneys also offer probate, estate planning, and asset protection services. What is Estate Administration? Estate administration is the process of concluding a person's financial affairs after they pass away and then distributing that person's property and assets to those who have inherited it. Everything a person owns becomes part of their estate once they are deceased. Most estates will need to go through various processes and probate proceedings, which require someone to be in charge of practical property upkeep and ensure that nothing is taken before the designated time. Once the probate process is complete and the deceased person's debts and taxes have been paid, the remaining assets will be distributed to their heirs and beneficiaries. A personal representative or executor will be named to handle these matters. An estate's personal representative or executor can be a person or a company such as a bank; if the deceased person had a will, they could have nominated the party themselves. Whoever is chosen to administer the estate will be required to perform their tasks with diligence and good faith. They will also be entitled to retain the assistance of an experienced attorney to help them through practical matters. Chambers & Ennis can assist with any estate administration questions you might have. As we help our clients with their estate planning processes, we can also help with the administration matters once the person in question passes away. We'll help you make sure that everything is carried out according to North Carolina law and your loved one's wishes. Contact our office today to schedule a consultation.
Reasons to Hire an Estate AttorneyWe can update documents when necessary/appropriate - As life events occur and financial situations change, your wills or trusts documents may need to be reviewed to ensure your plan still does what you want. An estate planning attorney can carefully determine whether any updates are necessary given your goals and wishes. We can ensure your documents comply with the current law - Probate and trust laws are state-specific, and do change from time-to-time. A licensed attorney can ensure that your documents are drafted in accordance with current state law. You can be sure your documents say what you want them to say - The verbiage used in planning can be complex and confusing and it is easy to misinterpret what you are being asked for when you attempt to do it yourself. This can result in a plan that does not work for your desired outcome. An experienced attorney will work to understand your wishes and can draft documents that accurately reflect your wishes. Consult a Trust Attorney When Estate PlanningYour will is not the only necessary document in your estate plan. Life is unpredictable; any experienced estate planning attorney knows that you will need provisions in place that can take effect before you pass away. Trusts are legally binding arrangements that are designed to protect your assets and direct their use in accordance with your wishes. While wills take effect after death, trusts may be used both during your life and after your death. A trust can direct the transfer of assets, provide for the care of a minor child or legal dependent, and set the terms for how your estate is managed. Trusts are frequently used during the estate planning process to supplement a will, allowing for seamless transfers of assets to keep your estate out of probate as much as possible. As experienced local trust attorneys, our team can advise you on the best course of action when planning your estate. We can create trusts that provide for pets, firearms, and even children with special needs. They can be written to take effect at the point of your choosing, providing you with peace of mind. Probate Services AvailableIf you live in the Cary or Holly Springs area and are searching for a knowledgeable estate administration contact us today. Our attorneys offer their knowledge and assistance in our probate services. For more information about our services, call our office today. We serve Cary, NC; Apex, NC; Wake Forest, NC; Holly Springs, NC and nearby areas. |