Seeking Advice from Estate Attorneys

by | Aug 10, 2015 | Lawyers

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While some people do not realize it, everyone has some type of estate. It may not be composed of vast real estate holdings or a portfolio of stocks and bonds, but there are assets which need to be protected. This is where seeking advice from Estate Attorneys will make a difference. Here are some of the ways that an attorney can help bring some order to any type of estate.

Evaluating the Present Situation

One of the first things that Estate Attorneys do for their clients is take an objective look at the current financial state of the finances. This includes considering what the client has in the way of cash on hand, life insurance coverage, and any assets that could be liquidated if the need arose. The evaluation will also focus on what sort of legal documents the client already has in place, like a last will and testament and a medical power of attorney. This type of assessment makes it easier to determine if there is any specific action that should be taken now to protect the interests of the client.

Setting Goals

An estate attorney can also help clients set goals for the future. Using the present situation as a foundation, the attorney can aid in the drafting of a plan of action to augment and enhance what is already in place. For example, the attorney can help the client set a goal to have a personal retirement plan up and running over the next five years. Perhaps additional life insurance would be a good idea to have in place before the end of the decade. If the client anticipates having the assets on hand to start an investment portfolio, discussing various ways to diversify the holdings and incrementally increase wealth will also be part of those discussions.

Periodic Reviews

From time to time, the attorney can take a fresh look at the financial situation of the client and the estate. Doing so makes it easier to adjust the goals to fit whatever has occurred since the last consultation. For example, the time may now be right to establish a trust fund for a child or other loved one. The attorney can recommend an approach that will provide security for that loved one.

For help with any type of estate planning, contact Robert S. Cutrona Esq. today. Starting now will mean more financial security tomorrow.

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