People plan anything and everything about their lives except their deaths. While this is common, it doesn’t mean that it’s okay. As the saying goes, death is the only thing that’s almost certain to happen in this life.
If that’s the case, then you must be prepared to welcome it. But how do you prepare for it so that your properties are protected, and the same gets awarded to the designated heirs? Hire an estate planning attorney in Hobbs.
Why Do You Need an Estate Planning Lawyer?
You see, estate planning can be complex since creditors and other people not designated as heirs may come after the property. Aside from that, without an estate plan in place, your will may end up disregarded, and your heirs might also end up fighting over what you left.
When you hire an estate planning attorney in Hobbs, NM, they will discuss what an estate plan must include. If these reasons aren’t enough for you, read on and be convinced to work with an estate planning attorney now.
You Can Protect Your Estate
You have been working hard to give your kids and their respective successors a better life, so it’s imperative that you also protect what you have built all through the years.
However, suppose you engaged in any economic activities, like setting up a business or joining a corporation. In that case, there’s a high chance that your business’s creditors will come after your properties if the company’s debts aren’t settled. A Hobbs estate planning attorney can help in this case.
The rule on Corporation dictates that the deceased creditor’s estate will answer for their unpaid obligations, thereby giving your creditors the right to encumber a portion of it to repay the incurred debts.
If you’re an incorporator of a dissolved corporation, and the veil of the corporate entity has been pierced, your personal properties will also not be spared from encumbrance. To make sure that any of these won’t happen, work with an estate planning attorney within your lifetime.
Your Wishes Will Be Respected Post-Mortem
An estate planning attorney in Hobbs, New Mexico, can help ensure your will is carried out after you pass away.
It’s common for even the closest family members to fight over the properties and assets left by the deceased. It is especially true if the deceased has children outside the benefit of marriage.
While illegitimate children are entitled to 50% of the legitimate child’s share, there are instances where the former demands more or the latter capriciously bars the former from claiming their legitime.
The estate planning attorney in Hobbs will ensure that the laws and provisions of the inheritance law are followed and that all heirs, legitimate or not, are treated fairly. Aside from that, your estate planner will also make sure that, should there be a will, your wishes are fulfilled.
Apart from utilizing gifting through trusts, your attorney can assist you in safeguarding your home by implementing strategies like placing it under tenancy by the entirety, using homestead exemptions, or establishing a qualified personal residence trust (QPRT). There are plenty of ways to protect your estate — just ask your estate planning attorney in Hobbs, NM.
All of these methods of protecting your property involve thorough planning. And when we say plan, that means during your lifetime, you need to work on these proactively. Consult an estate planning lawyer now and explore more options for securing the survival and transfer of your estate to your designated heirs, testate, or intestate.
Work With a Credible Estate Planning Attorney in Hobbs for Your Legal Needs
To ensure a smooth transition from one generation to the next, it’s a must to find a trustworthy attorney. Look no further than The Law Office of Cristy J. Carbon-Gaul, where you will find a legal professional with the necessary expertise and experience to safeguard your rights and estate.
Whether you require assistance with conservatorship, guardianship, probate, or estate planning matters, Cristy is well-equipped to provide the support you need.
You can consult her with cases falling within these practice areas:
Get in touch for a case consultation!