When it comes to estate planning, a properly drafted will is the best way to safeguard your asset protection in the event of your untimely passing. You may not realize it, but there are many risks involved if you do not properly title your asset distribution in your will. At Elder Law & Estate Planning Solutions of the Piedmont, we’ve helped countless families in the Concord, North Carolina area with our asset protection and estate planning services.
When it comes to asset protection, we will walk you through drafting your will, so you understand the benefits and risks to every decision you make. One of the most common mistakes most people make in terms of asset protection is not properly assigning assets to be distributed.
Assets are distributed to your heirs based on how they are titled. If your assets are not properly assigned, or titled, your assets will be distributed according to the probate estate law in your state. This goes for your home, any accounts in your name, and any assets that are not assigned in your will.
While it may seem obvious that your assets will eventually be transferred to your spouse and dependents, any legal fees associated with getting your assets to the right person come directly from your estate.
Probate estate law can also be a lengthy process that can take months or even over a year, eating away at your assets in legal fees, before finally reaching the designated heirs. Asset protection is important because it ensures that your heirs receive their full inheritance. Give us a call today to discuss your estate planning needs as well as asset protection for your family.
If you live in Concord, NC& need help planning for the welfare of your children or elder loved ones, turn to us at The Law Office of Marjorie J. Brown, PCElder Law & Estate Planning Solutions of the Piedmont
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