Cleveland Estate Planning Attorney

Estate planning is something that everyone must come to terms with eventually. It may be uncomfortable for some people to discuss matters such as their last will and testament or a living trust, but it is of the utmost importance to consider these issues before it’s too late.

Putting off estate planning can result in your grieving family being forced to make important decisions during an already stressful time.

Stop avoiding the inevitable and get started on your estate plan today by calling Slater & Zurz. Our firm will provide you with a local estate planning lawyer in Cleveland, OH, who will help you start securing your future as soon as possible.

Estate Planning Explained

Estate planning is a broad term and involves a number of different legal matters. Generally speaking, estate planning can be thought of as the process of preparing the financial and legal documents that will ultimately decide what becomes of your estate in the case of your death or incapacitation.

Your estate is simply the culmination of all of your possessions. Estate planning can include addressing a number of concerns, including:

• Writing a last will and testament
• Establishing a living trust
• Paying estate taxes
• Planning funeral arrangements
• Naming a guardian for any dependents

Estate planning can address all of the above concerns and more. These matters are crucial, as they enforce your last wishes and ensure that you leave behind the legacy you’ve worked hard to build.

If you or someone you know is in need of a Cleveland estate planning lawyer, get in touch with the specialists at Slater & Zurz.

Elements of Estate Planning

There are many different elements of estate planning. While some of them, such as a last will and testament, may be familiar to most people, there are other more obscure elements of an estate plan, such as living trusts, that you might not be aware of.

It’s worth learning about some of the different elements of estate planning to gain an understanding of how an estate planning lawyer can help you.

Last Will and Testament

The last will and testament is the most foundational component of any estate plan. Your last will and testament name your heirs and dictate where all of your assets will go upon your death or, in some cases, if you’re incapacitated.

Last wills and testaments also serve other functions like detailing your funeral arrangements or stipulating how you want others to carry out your final wishes.

Appointing an Executor

After you have a will, you must appoint an executor. An executor is someone who acts on behalf of the deceased in wrapping up their final financial matters. Executors are responsible for a lot of important things, such as:

• Locating all of the deceased’s assets
• Estimating the value of the deceased’s estate
• Paying off all of the deceased’s taxes and debts using their estate
• Filing the deceased’s final tax forms

The executor must handle all of their duties before finally being granted permission from a judge to distribute the remaining assets of the deceased to their beneficiaries. Because the job of the executor is so important and complicated, you should always contact an estate planning lawyer to ensure that you are appointing the right executor.

Settling Estate Taxes

While you may have built a considerably large estate in your lifetime, if you are not careful and do not plan for estate taxes, your estate could decrease significantly after your death. This is because of state and federal estate taxes, which could reduce the value of the estate before it’s distributed to its beneficiaries.

A good estate planning attorney can use different strategies, such as living trusts, charitable donations, and estate freezing, to minimize what you lose to estate taxes.

Don’t let avoidable estate taxes shrink the size of your estate. Get in touch with the Cleveland probate lawyers at Slater & Zurz.

Why You Need an Estate Planning Lawyer

Because estate planning covers various areas, it requires a thorough knowledge base of estate law and a diverse skill set. While it may seem tempting to go the DIY route in creating your estate plan, the complex procedures and obscure legal jargon make this difficult.

When it comes to estate planning, you don’t want to risk making any mistakes. Your legacy is too important to take chances. That’s why you should always consult an estate planning lawyer before doing anything else.

There are many benefits to using an estate planning attorney. The first is that you have the peace of mind that comes from knowing that your assets are in trustworthy hands.

When you work with a professional estate planning attorney, you know that you are benefiting from years of experience and expertise that you would not have access to if you tried doing it on your own.

The truth is, you need a lawyer for estate planning to ensure that you’re not filing or filling out legal documents incorrectly or inadequately.

Another benefit of hiring a lawyer for estate planning is that it’s the best way to maximize your assets and minimize costs such as estate taxes.

If you’re considering the DIY route in order to save money, you might also consider that using an attorney for estate planning will offer the experience and knowledge to put you in a significantly better position.

There are complicated estate taxes involved with estate planning, but knowledgeable estate planning lawyers will know how to avoid them by putting your money in a living trust.

In the long run, having a professional attorney for estate planning is always the wisest decision. Having an estate planning attorney is the safest way to get the most out of your money, and it’s never too early to get started on your estate plan.

If you or a friend or family member is in need of an estate planning lawyer in Cleveland, OH, call Slater & Zurz today.

How Slater & Zurz Can Help with Your Estate Plan

Cleveland is a city full of young, happy families. It’s home to many exciting companies in a variety of industries. Cleveland is a great place to settle down and start building a career.

It’s exciting to grow your life by buying a house and car and starting a family, but anyone who’s in a position to begin that process should care enough to protect their loved ones by creating an estate plan.

At Slater & Zurz, we will provide you with a local Cleveland estate planning lawyer to assist you in every step of the process. Let us help you mold your legacy.

Estate planning is complicated and covers multiple areas of the law. In order to be certain that you’re leaving behind the best possible situation for your loved ones, you need professional legal counsel.

The lawyers at Slater & Zurz have more than 30 years of experience in estate planning law and can give you peace of mind knowing that your legacy is safe. If you’re in the market for a Cleveland estate planning lawyer, look no further than the specialists at Slater & Zurz. Contact us today to get started.