Wills, Trusts, & Estates
Death is a difficult subject to think of, and rarely does anyone wish to think about it. However, it is an inevitable part of life, and no one can know when their time will come. Do you know what will happen to your estate when your time comes? If you have an estate plan, you can have the peace of mind that comes with knowing that your estate will go to the people or charities that you want it to go to.
Katz, Kantor, Stonestreet & Buckner is the largest firm for estate planning in Southern West Virginia. Have peace of mind knowing that your affairs are in order by allowing us to create an estate plan that ensures your wishes are followed and that your estate is the most tax efficient as possible. Call us at (304) 431-4050, or contact us online for representation by compassionate attorneys who have experience and knowledge that will give you peace of mind, knowing your estate will be preserved according to your wishes.
What is an Estate Plan?
An estate plan is a comprehensive plan for how your belongings will be distributed at death. A knowledgeable and experienced attorney can review your assets and create a customized set of legal documents that will ensure your belongings go to the right people or charities when you die. An estate plan can involve wills, trusts, and combinations of the two. There are also other methods for planning an estate – methods which a qualified attorney can help you with if they are right for your estate. The right estate plan will work within the law to ensure that your estate either pays no taxes or pays the least amount of tax possible.
Dying Without a Will or Trust
If you die without a will, your estate will be distributed to people by a method called intestate succession. This means that the court will follow the laws in West Virginia for how a deceased person’s assets are to be distributed if they die without letting their wishes be known through a will. West Virginia’s laws are designed to distribute property to a deceased person’s loved ones in a way that most people would want their things distributed. However, the court cannot take into account unique family situations which could make intestate succession something that would not reflect your wishes.
Many families have unique relationships, and you may wish for some people to get more, less, or nothing at all. You may have special wishes for how people receive money. For example you may want them to get money slowly over several years, or receive funds only if they are going to school full-time. If you die without an estate plan, your assets and belongings could end up with someone you would not wish to have them. If the court cannot find any living relatives, no matter how distant, your assets will go to the state. Or, you may leave behind a tax liability that could have been avoided by navigating the tax laws with a good estate plan created by a qualified attorney.
Let us be Your Lawyers, Your Voice. Contact us Today.
At Katz, Kantor, Stonestreet & Buckner, we know how to navigate tax laws and have the experience and knowledge that can ensure that your estate will be tax efficient and will preserve your estate the way that you wish. We are the largest firm in south West Virginia that practices in estate planning. Contact us today at our offices in Princeton and Bluefield for representation by compassionate attorneys who can give you peace of mind by planning your estate.