Everyone needs estate planning, and Hive Law makes it easy.
You need not be rich to get your estate planning under way. It is your opportunity to direct how your assets and liabilities will be handled upon your death, or how your care should be handled if you are incapacitated. Creating an estate plan will reduce the time and d expense of probating your estate.
Not sure where to begin?
If you’ve been thinking of creating a plan, now is the best time, and you can see just how easy it is with Hive Law to help.
1. Take a few moments and fill out our short survey
2. We take the answers and start your personalized plan
3. Make your secure online payment
4. We schedule your private Attorney consultation
5. You execute your legal documents, and we send you Estate Plan Bundle
Estate planning is not dependent upon age, as you are never too old or too young to get started.
My Estate Plan
Protect Beneficiaries
A well thought out Estate Plan may help you avoid common pitfalls of probate and taking care of your heirs.
Mitigate the Tax Bite
Working with skilled Estate Planning Attorneys on Federal and State Estate Taxes, is key to mitigating potential tax liabilities for your heirs.
Ease of Mind
Stop family contention before it starts. Control the fair and equal distribution of your assets to your loved ones on your terms.
Schedule a call today!
Schedule a session with our team of experts and launch your business today.
Here’s What Hive Law Provides
- Trust Certificate—The legal name of the trust is shown in this legal document and confirms that your assets have been placed into your legitimate trust.
- Trust Agreement—This agreement is between you as the Trustor and your Trustee as to how the trust and your assets are to be managed and distributed to your trust beneficiaries.
- Power of Attorney—You decide how much power to sign and execute agreements that you give to your Trustee.
- Last Will and Testament—The Last Will and Testament lays out how you want your assets to be distributed and the handling of the residue of the trust. It also includes arrangements for the finances and care of young children not of majority age.
- Health Care Directive—This document states who has the authority to make medical decisions on your behalf if you are unable to do so. It instructs medical staff in this regard. Things like a DNR, Do Not Resuscitate order are in this document.
- Final Disposition—This document instructs how your remains are to be handled, burial, cremation, etc.
- Transfer documents and other forms—When there are bank account beneficiaries, real estate, and insurance policies in your estate, these documents contain any necessary quit claim deeds, policy forms, and forms to record documents at state level.
- Gun Trust—A gun trust is the generic name for a revocable or irrevocable management trust that is created to take title to firearms. Our NFA gun trusts are valid and work in all 50 States of the United States.
Options for Additions to a Trust
- Pet Trust—This is a trust for your pets that identifies who will take responsibility for your pets and sets aside money for their future care.
- Special needs trust—A Special Needs Trust agreement arranges for the care and finances of children who have special physical or mental needs.
We have the answers to your questions,
How does an estate plan protect my heirs?
Should you die with no will in effect, the courts will decide how to distribute your assets and who gets what. This probate process can take months to years, and costs add up, often reducing the value of assets your heirs will receive. Stress and disputes are common, with the state becoming a claimant on your assets as well as heirs who may be fighting amongst themselves. As the funeral and some other costs of settling your estate are immediate, the probate process does not cover them. An estate plan is not a luxury, instead a necessity.
How does an estate plan help my minor children’s future?
The estate plan is the primary and vital document for arranging for the care and finances of minor children. It designates the legal guardian(s) for your children and how and when they will receive assets until they become adults. Without instructions to the contrary, the courts will make decisions about your children and who will raise them. Put aside the dislike of thinking of dying young and create an estate plan that will set out care and finances for your young children should both you and your spouse die.
Is estate planning of value in reducing taxes?
Estate planning is a crucial tool in reducing taxes and legal actions involved with your estate. Proper planning will result in significant reductions in income taxes, inheritance taxes, and other taxes on your estate. A properly set up estate plan will significantly reduce the tax burden on your heirs related to your estate. Good estate planning can result in reducing much or even all the possible federal and state taxes and inheritance taxes. Without an estate plan the amount your heirs will owe the federal and state governments in inheritance and income taxes could be quite high. Included in this plan would be businesses and investments.
How do we keep heirs from fighting over our estate?
Heirs fighting over an estate is usually easily predictable based on how much preparation went into estate planning. Little preparation brings more fighting, while comprehensive estate planning delivers a smooth and stress free dispersal of your assets. Your estate plan documents should clearly and in detail set out which heirs get what portion or specific assets in your estate. You can give more asset value to an heir who spent more time in caring for you later in life. Or, if you spent large sums in educating one heir more than others, you can give less to that heir and more to the others. You can arrange for the care and financial well-being of minor children as well. Setting up trusts for those heirs who would be better served in not receiving a lump sum. Careful preparation, possible discussions with heirs, and detailed documents can avoid disputes over your estate.
What Happens if I Die Without a Will?
Dying without a will is termed dying “intestate.” Each state has laws that determine how assets and property of the deceased will be distributed to heirs after debts are paid. Most common would be that the spouse would be first, then children, and then other family members.
Can I specify charities in my estate plan?
You can leave money or other assets to one or more charities. There can be exceptions, and, in some cases, taxes involved, so seek advice from estate planning professionals to choose charitable organizations.
What happens if there are disputes regarding the terms of my trust and will?
State laws govern trusts, and when there are disputes, they will be handled either by mediation or in state court. Only those who can prove “standing” can sue to contest or dispute a will or trust. Standing means that they have a personal, beneficial, or financial stake in the outcome of the administration of the trust. This would normally be family members or possibly business partners in some cases. Other third parties would be unlikely to be able to prove standing to the courts.
What do I do after the death of a family member?
The death of a family member is a stressful and challenging experience, and it is a time of grief that unfortunately also brings requirements for actions by grieving family members. Some of the actions that should be taken as soon as possible include:
- A legal pronouncement of death is something that should be forthcoming soon after the death. Treatment by paramedics if there is no “do not resuscitate” order is usual after a 911 call. Often the person will be taken to an emergency room, and soon after a death certificate should follow.
- Someone involved should notify the county coroner and the decedent’s family physician.
- Phone calls to family and close friends of the deceased should be made soon.
- If employed at the time of death, someone should contact the employer to notify them of the death and to inquire about benefits that may be available.
- Contact should be made immediately with all insurance policy issuers.
- If there are minor children of the decedent or pets, arrangements are necessary for their care or supervision. If there is a will or trust, there could be instructions about minor children or pet care in the documents.
- Some or all these listed actions could be detailed in an existing estate plan or trust. If they exist, contact the family attorney or the executor for guidance.
- Whoever undertakes these activities should work them into a normal grieving process and not add undue stress to this already stressful time.
Schedule a call today!
Schedule a session with our team of experts and launch your business today.