Novas Law Group

Frequently asked question

The following questions are commonly asked by potential clients seeking an estate plan.

It is a comprehensive plan detailing how personal assets are distributed to family members and others you care about most. The process includes working closely with an estate attorney or legal representative to thoroughly review your decisions to create a customized plan to meet your specific situation. Estate planning protects assets, provides for family members, reduces taxes, provides if you become disabled, and provides peace of mind while preserving your legacy.

The state you reside in may have a “one-size-fits-all” plan that is standard practice, but it may not be what you want or what is best for your situation. Your assets may get distributed through probate; a court process based on a state law that appoints someone within your family to complete the process. 

If no Will or estate plan is in place, family members have to go to court to determine who gets what. A judge oversees it and sometimes the process takes months to complete leaving your assets in limbo. The process could be expensive, including legal fees based on the value of your estate. Such conflicting actions is why legal experts say you should avoid probate and make plans for your estate before it’s too late.

Yes! You don’t have to be wealthy to create a plan. It not only gives direction on who obtains your assets upon death, but says who you want to care for minor children, who can care for you if you become disabled, protect your assets, and says who can make decisions for you when you are not able. A trust provides more protection for your assets and wellbeing than a Will.

Please feel free to contact us today for a consultation to answer any questions and address your concerns.

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