Estate planning is one of the most important legal responsibilities of your lifetime. While people assume they can make their own arrangements without the need for an Alamogordo estate planning lawyer by promising their loved ones particular possessions, the reality is that you need a will for these decisions to be legally binding. Without a will, the state picks who gets what based on a system known as “intestate succession.”
Along with a will, you may want to explore options for long-term medical care planning, establishing a trust, and planning for emergency medical situations. With the right strategy in place, you and your family can be confidently prepared for nearly anything life throws your way.
Estate planning can be handled at any age, so now is always the best time to start or to re-evaluate your existing estate plans. Don’t put off these major decisions. If you do, you may be forced to make hard choices when you are feeling intense worry or pressure. Worse, your family may be left with unanswered questions after you are no longer around to help.
Reach out to the attorneys at New Mexico Financial & Estate Planning Attorneys today to book a consultation and go over all of your options for estate planning. An Alamogordo estate planning lawyer can give you personalized advice based on your unique situation. Schedule an appointment to speak with an experienced professional with no obligation by calling (505) 503-1637 or contacting us online today.
Over the past decade, New Mexico Financial & Estate Planning Attorneys has set a high standard for serving customers throughout the state. Our Alamogordo estate planning law firm is ready to help with some of your most important and sensitive life matters. If you live in Alamogordo or areas nearby, you can rely on us to help you build a strategy that leaves you feeling prepared for anything the future might hold.
With a city population where nearly 1 in 5 people are over the age of 65, there are thousands of people in Alamogordo who can benefit from the services of an experienced estate planning lawyer in New Mexico. Estate planning can be particularly crucial in Alamogordo’s high population of retired military service members. From navigating long-term care planning to understanding how your benefits may apply to loved ones after your passing, there are many important topics to consider.
When you meet with a lawyer from New Mexico Financial & Estate Planning Attorneys, you’ll go over all the most important parts of your estate. You can receive assistance and advice with any of the following areas:
Regardless of your needs, you can rely on our team for personalized service. With deep experience and familiarity with state and local laws, we understand your priorities as well as the unique rules and risks that could affect your plans for the future.
These days, numerous online resources offer a cheap and easy way to handle tasks like creating a will or a power of attorney. However, the reality is that you get what you pay for.
Without an Alamogordo estate planning attorney, you may face the consequences of relying on a document that a human with decades of experience didn’t create. Worse, many online estate planning tools fail to account for the laws that apply specifically to your city or state.
In one New Jersey case, the family of a man who had assumed that his online will was valid was forced to spend what was likely tens of thousands of dollars on consulting and litigation just to have the will admitted into court. Most sites attempt to avoid being held accountable by including disclaimers that state it’s your responsibility to ensure your document is 100% accurate and legally compliant.
On the other hand, an Alamogordo estate planning lawyer is legally required to put care and thought into every service they provide. They can consult with you one-on-one, going over the details of your estate and listening closely to your goals before offering any suggestions. They can help you customize your plan to fit the unique qualities of your family, your situation, or what you want to happen in the future.
By hiring a proven and tested attorney from our Alamogordo estate planning law firm, you can gain all of the following services and benefits:
At New Mexico Financial & Estate Planning Attorneys, we put the extra effort into researching your estate plans and paying attention to every detail, no matter how small. We help you think carefully about how the future could affect your best-laid plans, including how life changes for loved ones may affect their ability to manage your estate or other affairs when you are no longer able to do so yourself.
So if you want peace of mind rather than quick convenience, strongly consider working with an Alamogordo estate planning lawyer. You’ll have someone at your side who not only cares about you but is accountable to you and your loved ones for results.
Hiring an attorney is the best way to create a will that upholds all of your wishes while leaving your loved ones happy. Will creation might seem simple, but the slightest change in wording could hold enormous consequences for your estate. It is especially important to seek professional assistance from an Alamogordo estate planning attorney when creating a will if you have a complicated asset or family situation.
New Mexico Financial & Estate Planning Attorneys is happy to assist you with the creation of a brand-new will. We can also review any existing will you have, recommending updates or changes.
Forming a trust in Alamogordo can bring many benefits to you and your loved ones. Depending on the type of trust you form, you may be able to:
Once created, trusts can last past your lifetime and be managed by a series of trustees. Your loved ones may be able to enjoy a steady income, estate tax savings, or other benefits, depending on the estate plans you create now.
A Medicaid trust allows you to transfer assets out of your ownership to potentially qualify for long-term care assistance and other needs-based programs.
The key to this strategy is planning: Medicaid state programs look back at transfers for up to five years from the date your benefits could start. Planning early means being ready for the day when you may desperately need nursing home care or other services you couldn’t afford on your own.
Similarly, retired military personnel and their survivors may be eligible for VA Aid & Attendance benefits. Eligibility for this program is also based on your assets and income; therefore, early planning is crucial. Fortunately, the VA has a three-year lookback period, compared to Medicaid’s five-year period.
In situations where you are in a coma or otherwise medically unable to communicate with your loved ones, they could face tough decisions about your care. Worse, they may be unable to access your accounts to handle critical tasks, such as paying bills or making regular transfers.
Planning for medical emergencies enables you to consider these situations in advance and document your wishes in a legally binding manner. Documents you can create with the help of an Alamogordo estate planning lawyer include:
These documents can prevent a lot of confusion and heartache during an extremely sensitive moment in your loved ones’ lives. Anyone, at any adult age, can create them, but they are most important for individuals who have a higher risk of a serious medical emergency.
Technically, no. A will is valid in Alamogordo as long as it is in writing and signed by its creator in front of at least two witnesses, who have to sign the will themselves (NM Stat § 45-2-502). Documents for trust formation or power of attorney must be in writing and signed by the person creating them.
However, preparing any of these documents without the assistance of an Alamogordo estate planning attorney can lead to serious problems down the road. If the person who made the document is incapacitated or dead, it can be too late to fix it. There is a risk that vague text in a will could lead to a dispute, for example, or that a bank may not honor a power of attorney designation if the principal has not cleared it with them first.
Put simply, your legal documents have a higher chance of being used in the way you intended and succeeding in your original goals if you have a lawyer to help you complete them.
It’s important to consider now what you would want to happen after a scenario like a medical coma or your unexpected passing. While these topics can be uncomfortable, the reality is that these situations can come out of nowhere.
Work with a legal professional certified to provide estate planning services in Alamogordo, who can ensure that your wishes can be known and carried out when the time comes. New Mexico Financial & Estate Planning Attorneys acts as your partner and private consultant in some of the most important aspects of your life. Our clients trust us to provide them with an Alamogordo estate planning lawyer who can help them plan not just for their future, but also for the future of their family and their legacy.
When you are ready to start taking steps to secure your future, we are here to help. Call an Alamogordo estate planning lawyer you can depend upon to discuss your options during a confidential discussion and estate plan review. Call us at (505) 503-1637 or contact us online to schedule your appointment today.
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