Expert Analysis And Advice Is Invaluable Over the course of your lifetime it is likely that you will have accumulated some considerable financial resources. Given the fact that it took you many decades to get to where you are arranging for the transfer of these assets after you pass away is not something that can be done by a layperson in the blink of an eye. The first thing to be aware of is the fact that there are sources of asset erosion out there. These threats can dramatically reduce the value of your estate as it is being passed along to those that you love. One of these sources of asset erosion is probate. If you utilize a last will to direct the transfer of your assets your estate is going to have to pass through probate. There are innumerable expenses that can be incurred during this interim and they can routinely shave down your estate by perhaps 5% to 10% of its overall value. The federal estate tax is another looming source of asset erosion. Right now the tax carries a 35% rate that is scheduled to rise to 55% at the end of this year and the estate tax exclusion is going down to just $1 million in 2013 so you may well be exposed at that time while being safe from the tax at the present moment. Given these realities the wise course of action is to engage expert assistance. With the help of a good estate planning lawyer, you can craft your estate in a cost-effective manner, steer clear of these sources of asset erosion and maximize your legacy. Experienced estate planning attorneys Mobile AL of the Ryan Hicks Cumpton & Cumpton LLP offers estate planning and business planning resources to residents of Mobile AL. To learn more about these free resources, please visit http://www.epattorneys.com today.
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