Estates & Trusts
At Cross Law Firm, we understand the importance of estate planning and trusts. We believe it is an essential component of financial security and peace of mind. That’s why our experienced attorneys are passionate about helping families create strategies that will protect their assets and ensure their wishes are carried out after they pass away. With our expertise, you can be confident that your estate plan and trust will be set up right the first time.
At Cross Law Firm, we are dedicated to helping you create an end-of-life plan that is tailored to your individual needs and desires while maintaining sensitivity and expertise. At Cross Law Firm, you can expect the following:
- A complete and fleshed-out estate plan that includes powers of attorney, trusts, wills, and living wills.
- Help in understanding and establishing the right trust that is right for your situation.
- To work with a dedicated and nationally recognized team that serves clients with diverse needs throughout Kansas and Missouri.
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What is estate planning and why is it important?
Depending on your age, estate planning may not seem like an urgent matter, but it’s essential to have these legal documents in place to ensure your assets are distributed according to your wishes. Your estate plan will cover how your personal and financial affairs will be conducted when you are no longer able to make these decisions for yourself. Without a plan in place, the future of your assets can be left up to the courts to decide.
All estate plans should include at least these two important documents:
- Power of Attorney: A power of attorney or letter of attorney is a written document that has the authorization to represent on another person’s behalf in business, private affairs, or some other legal matter.
- Will: The legal document that expresses a person’s wishes after death. This tends to include their property, assets, and remaining living dependents.
When you should create an estate plan
Many people believe an estate plan should be established when you are much older and have acquired a large amount of assets. However, many financial advisors would disagree with that and recommend starting an estate plan the moment you become a legal adult.
Common life events that warrant prioritizing Estate Plan include savings account, home and property ownership, marriage and remarriage, travel, first child and each one after, inheritance of money or assets, divorce, and births in the family.
- Savings Account: Designate where savings account funds would go in case of death to ensure they pass on to a loved one or chosen cause.
- Home and Property Ownership: The purchase of a home or property signals the need for estate planning to avoid probate court proceedings.
- Marriage and Remarriage: Combine assets during marriage or remarriage and determine what happens in case of death.
- Travel: Update estate plans before big trips, especially for long periods of time or frequent travels.
- First Child, and Each One After: The birth of a child triggers the need to consider guardianship and financial security.
- Inheritance: Update the estate plan to reflect any additional money or assets inherited.
- Divorce: If divorced, update any previous estate plans made with a former spouse.
- Grandchildren or Births in the Family: Update Wills or Trusts with new family members such as grandchildren or births.
What is a trust, and why should you establish one?
When it comes to trusts, this legal document serves to protect your assets and to ensure they are distributed as you intend. Trusts can be complex legal documents, which is why it’s crucial to select a trust attorney who you can trust. A trust attorney will help you navigate the legalities of setting up a trust, including selecting a trustee who will be responsible for distributing your assets to your beneficiaries.
Finding an Estates and Trusts Attorney
Estate planning and establishing a trust are critical elements of any individual’s long-term financial strategy. People work hard to accumulate assets over their lifetime, and it’s only natural to want to protect them from being distributed against your wishes. With an estate plan and trust, you can ensure that your assets will be distributed to your beneficiaries the way you desire, thereby providing you and your loved ones peace of mind.
However, given the complexity of estates and trust law, it’s essential to choose the right attorney to help you with your estate and trust planning. An experienced attorney can guide you through the complexities of estate planning and help you understand the legal and financial implications of your decisions. A trustworthy attorney will have the expertise and experience to help you create a comprehensive estate plan and establish a trust that reflects your wishes and protects your assets.
Moreover, the legal and financial landscape around estates and trusts is ever-changing, making it essential to stay abreast of these changes. Estate planning is not a “set it and forget it” type of endeavor. Instead, it’s crucial to review and update your estate plan as needed to ensure its accuracy and continued relevance.
In conclusion, an estate plan and trust are essential parts of any individual’s long-term financial strategy. Working with an experienced attorney to establish these plans and navigate the legal landscape is crucial to ensure that your wishes are met and your assets are protected. It’s essential to choose an attorney you can trust to help you with your estate planning and ensure that your estate and trust reflect your wishes over time.
Dedicated Legal Service and Representation
Cross Law Firm is a nationally recognized law firm with experience serving clients with diverse needs throughout Kansas, Missouri, nationally, and abroad. We are dedicated to providing reliable and knowledgeable legal representation for our clients, so they can have the best outcome for their case. Our team works hard to ensure that each client is given the attention and care they need to have their case resolved in the most efficient manner possible.
Estate planning is something everyone can benefit from establishing, regardless of your age or number of assets. It takes an expert to create or amend a trust properly to ensure its authenticity. When it comes to Estates and Trusts, Cross Law Firm are the experts you can count on. Contact Cross Law Firm today.
