When a person dies without a will, the state will intercede without any effort to keep tax liability down or to disperse the estate as the decedent would have wanted. At Peterson & Peterson, LLC., we work with our clients to avoid this scenario. With proper estate planning and the guidance of our Xenia estate planning lawyers, you may benefit by minimizing taxes and providing direction as to how your estate will be divided. With a carefully constructed plan, you might help your family avoid the unpleasantness of contested wills or estate litigation.
Power of attorney
Recovery of assets
At Peterson & Peterson, LLC., we can handle the full administration of a decedent's estate and handle trust litigation, contested guardianship, and contested wills. Our team also has experience helping our clients draft customized estate documents that are uniquely tailored to their family's needs.
Clients sometimes have confusion over the differences between a will and a trust; each has its own purposes and advantages.
We discuss the distinctions between a will and a trust below:
Wills are written with the purpose of directing the dispersal of a person's property at death and can also identify the person who should be named guardian of any minor children. When written carefully, these documents may prevent painful and drawn-out contested guardianships.
Trusts are written to establish who will be responsible for managing property with the intent to benefit another. Trusts can be used to avoid probate, to limit estate taxes or to ensure support for a disabled or disadvantaged family member. We work with clients who hope to create trusts and those who are facing trust litigation.
Take some time to be prepared for life's uncertainties and avoid unnecessary conflict regarding your estate. During our initial consultation, we can review your estate and provide our recommendations on valuable estate planning tools that can benefit you and your family.
For answers about creating wills, trust, probate, or another aspect of estate planning, call our office at 937-502-3420.