Wilmington Estate Lawyer

How your estate is divided when you pass away is something you should plan for if you want to have a say in which family members obtain your assets. Speak with a qualified Wilmington estate planning lawyer.

There are many details involved in planning your estate in Delaware. You probably know that you’ll need a will if you want your belongings to go to certain family members. But there are many other details that you need to consider, including trusts, estate taxes, your power of attorney, and your healthcare proxy, to name a few.

A Wilmington estate lawyer at Barros, McNamara, Malkiewicz & Taylor will understand that planning your estate on your own can be overwhelming, which is why we’re prepared to go over all the minute details you might not understand or even know about.

If you take the time to plan your estate prior to your death, the distribution of your assets can be that much easier for your family during an already difficult time after you’ve passed away.

What You Need to Know About Probate

Sometimes, having your estate go through probate is unavoidable. If your assets exceed $30,000 or if you are a property owner, your estate will be required to go through probate. This means the courts will be involved in executing your will and settling the affairs of your estate.

Your estate lawyer in Wilmington can help you avoid having the courts handle these matters by helping you assign an executor of your will and affairs when you’re planning your estate. The executor of your estate will be responsible for itemizing your estate, placing a monetary value on your belongings, distributing the assets, and paying off any outstanding bills or taxes you might owe.

Probate court ensures that your debts are paid off before your family can claim the assets you’ve left for them and prevents your assets from being handled fraudulently.

Choosing Your Healthcare Proxy and Power of Attorney

Assigning a healthcare proxy and power of attorney when planning your estate can be quite beneficial if you become unable to voice your wishes to others.

You should include an advanced directive that will include what life-sustaining measures, if any, you wish to have taken if you become ill. Your healthcare proxy will be able to make decisions that haven’t been addressed in your advanced directive.

Your power of attorney is similar to your healthcare proxy, except your durable power of attorney makes decisions regarding your assets and other finances when you are unable to.

It’s important that you discuss your wishes with the person you choose ahead of time so that they are aware and accept their role. You’ll want to choose someone who will follow through with your wishes and make other decisions objectively rather than with their emotions, difficult as it may be.

The Preparation of Your Will

Perhaps the most important part of planning your estate is writing your last will and testament. This is your opportunity to leave your assets and belongings to specific family members. Having a will can help your estate go through probate much more quickly.

If you don’t have a will, your estate will be divided among your closest blood relatives. If there are none, the state may retain possession of your assets. Additionally, you may want to include a no-contest clause in your will. This will bar your family from contesting the way you’ve divided your assets among your beneficiaries.

Your Wilmington estate planning attorney can also help you prevalidate your will, which will show the courts that you were of sound mind when you planned your estate.

Talk to a Wilmington Estate Attorney

For help planning your estate, speak with a knowledgeable Wilmington estate lawyer at Barros, McNamara, Malkiewicz & Taylor. You can schedule your initial consultation today by calling our office directly at 302-734-8400 or by filling out the quick contact form we’ve provided below.