Estate Planning Lawyer in Monroe, NC
Estate planning is not just for the super-wealthy; it is for anyone with small, medium, or large assets. No matter the size of your estate, you ought to protect it and ensure your property, financial assets, and other valuables are managed and distributed to heirs and beneficiaries according to your wishes.
Zach Jackson Law is here to help you with all matters of estate planning. From forming trusts to navigating the processes of estate administration, altering wills after divorce, and anything in between, he can be an invaluable resource for you. Attorney Jackson takes the time to review every client’s unique situation and provide tailor-made counsel and direction. If you are searching for an estate planning attorney in Monroe, you can turn to him and the rest of our team at Zach Jackson Law with confidence.
Call (704) 734-9828 or contact us online to schedule a consultation. Zach Jackson Law serves clients in Monroe and other areas throughout Union County.
Essential Estate Planning Tools
Estate planning involves creating and maintaining various legal documents. These documents can provide directives for how to handle a person’s assets after they pass, grant someone the right to make decisions for another, and more.
Below are some of the most essential estate planning tools:
This is a legal document that outlines how to distribute a person’s assets and possessions after they pass away. Having a will in place can give people peace of mind, reduce conflict among family members, and ensure a person’s final wishes are fulfilled.
During a medical crisis that leaves a person incapacitated, a living will details a person’s wishes regarding life-saving treatments. It can relieve loved ones from the burden of making difficult choices during times of heightened stress and emotion.
A trust is an arrangement that gives a person (the trustee) the power to manage and distribute another’s (the settlor) assets to beneficiaries.
The four primary types of trusts include:
- Revocable: Settlors can modify these during their lifetimes, and the trust’s assets will avoid probate. However, assets in revocable trusts are subject to various estate taxes and unprotected from creditors.
- Irrevocable: Settlors cannot alter these types of trusts after signing them. The assets in an irrevocable trust are protected from estate taxes and creditors.
- Special needs: These are meant for individuals with physical or mental disabilities. They allow them to still receive needs-based government benefits while taking advantage of assets in the trust.
- Life insurance: This is a legal arrangement where a person's life insurance policy is transferred to a trust accessible to designated beneficiaries. Like an irrevocable trust, it offers protection from estate taxes and creditors.
Power of Attorney (POA)
A power of attorney is a legal document that grants a person (the attorney-in-fact) the authority to make decisions and act on behalf of another (the principal). This authority can be broad or limited in scope and can cover financial, legal, or healthcare matters.
Trust and Estate Administration
Estate and trust administration involves managing and distributing assets after a person has passed. It is a complex ordeal that requires trustees to adhere to various state tax and probate laws. Attorney Jackson has a wealth of experience in this matter and has helped people avoid time-consuming and costly complications and protected beneficiaries’ interests.
He can offer the following and more:
- File petitions in the state’s surrogate courts to address issues with trustees and how they have handled a trust or estate’s administration.
- Resolve creditor claims
- Facilitate proper asset distribution to beneficiaries
- Prepare and file fiduciary and personal income tax returns, as well as federal and estate tax returns
Consult with a Monroe Estate Planning Lawyer
Whether you are looking for an attorney to help you plan your estate or assist you in handling the administration of a trust or estate, call us. With Attorney Jackson’s personalized approach, you can count on getting the exact guidance and support you need. Schedule a virtual or in-person consultation today.
Call (704) 734-9828 or reach out online to get started with a Monroe estate planning lawyer you can rely on.