Estate Planning Attorneys in Albuquerque
Create a Will and Power of Attorney
An estate planning attorney can help you create a will that states how you would like to distribute your assets. The legal document also names someone to manage your finances and property after death. Without a will, your family could face significant challenges and the state may determine how to distribute your assets in a way that could go against your wishes. You can also create a power of attorney to give another person authority to make decisions on your behalf if you are incapacitated. This allows someone to take control of your personal and medical care if you cannot make decisions for yourself.
Designate Beneficiaries of Estate
An estate planning attorney can help you designate beneficiaries on your bank accounts, retirement accounts, insurance policies, and other investments so your assets pass to your loved ones after you pass. This can help your family avoid the long probate process and get access to assets more efficiently.
Our experienced Albuquerque estate planning lawyers can make sure your instructions are interpreted correctly and address any claims against the estate. They can also work to minimize the amount of tax paid by your heirs.
Get Educated on Estate Planning Laws
An estate planning attorney can help you understand the laws that will affect you and your family, including tax laws. PBWS Law will review your goals and family relationships to develop a customized plan which takes into account state and federal laws.
We can also help you avoid the probate process by setting up trusts and ensuring your property is properly titled. Our experienced attorneys can assist you in establishing a living will and advanced healthcare directive to make decisions for you in the event of your incapacity. PBWS Law can also help you settle a loved one’s estate by identifying their assets, locating and notifying heirs, and distributing the estate according to New Mexico law as well as resolving any claims against the estate. This process can be complicated and lengthy, so you will need an experienced Albuquerque estate planning lawyer by your side.
Appoint Guardians and Create Trusts
Creating trusts can avoid a lot of issues if you have minor children. These types of trusts allow you to choose a trustee that will manage funds for your kids until they are older and capable of managing them on their own. This helps keep your family’s affairs private and prevents conflict over what happens to your kids. If you are appointed a guardian, you will need to find out about all of the assets and sources of income for your ward. We can assist you with obtaining information on accounts which may be hidden.
You may want to consider a living trust depending on your family's situation. This type of estate planning tool can help avoid probate, provide tax benefits, and give you more control over how your estate is distributed.
Find Help Navigating the Legal Process
An estate planning attorney can provide valuable insight based on their past experience, as well as help ensure the legal process is handled efficiently and according to all applicable laws. This includes addressing any claims against the estate as well as ensuring the instructions in the will or trust are interpreted properly. Our lawyer can also address issues such as taxation, including ways to minimize the amount of money lost to taxes after death. This is particularly important if you own real property or assets with high value.
At PBWS Law, we aim to help our clients ensure their legacy is preserved and their wishes are fulfilled. When you are ready to establish a plan for your estate, give us a call at (505) 872-0505 or contact us online to discover how our team can help give you peace of mind.