Best Estate Planning Lawyers in Madison
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United States Estate Planning Legal Questions answered by Lawyers
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- My husband passed away five years ago. We have a property in th Philippines and I would like to transfer everything to my child. We are now residing in California, as U.S. citizens and my late husband a Filipino citizen.c
- Hello:We are sorry to hear about the passing of your husband, and we extend our deepest condolences.Regarding your concern, since your husband was a Filipino citizen and you are now both U.S. citizens residing in California, the property transfer to your child in the Philippines can be lawfully facilitated under Philippine succession laws.Here are some important legal points and possible remedies:1. Extrajudicial Settlement of Estate (if there is no will)If your husband died intestate (without a will), and there are no other compulsory heirs aside from your child, you may execute an Extrajudicial Settlement of Estate with Waiver of Rights in favor of your child. This must be:Signed by you as the surviving spouse,Notarized and registered with the Registry of Deeds,Accompanied by a notarized Affidavit of Self-Adjudication or Waiver, if applicable.If the property is titled in your husband's name, the title must be transferred first to the estate, and then to your child.2. Judicial Settlement (if there is a dispute or complications)If:There are other legal heirs,There is no agreement on the partition,Or if a will exists that needs probate,Then a petition for judicial settlement must be filed before the Philippine court having jurisdiction over the property.3. Tax Clearance & Title TransferTo legally transfer the title, the following must also be secured:BIR Certificate Authorizing Registration (CAR),Estate tax clearance,Updated real property tax payments,Transfer of title with the Registry of Deeds.We recommend an initial consultation so we can properly review your husband’s death certificate, property documents, marriage certificate, and your child’s proof of identity. This way, we can assist you in completing all required steps without requiring you to travel to the Philippines.You may directly schedule and automatically get a Google Meet link using the link below:👉 https://calendar.app.google/MuALV3nLqedy9FCx6Our Contact Information:📧 Email: [email protected]📞 Phone/Viber/WhatsApp: 09175046510📍 Office: 5th Floor, Park Centrale Building, IT Park, Apas, Cebu City, 6000We look forward to helping you secure your child’s rightful inheritance.Best,Atty. Jofre RecososaOwner, Recososa Law Firm
- How to protect property from squatters law
- After completing probate to establish yourself as the legal heir, you can transfer the property title to your name and then grant them permission to reside there through a formal agreement.It is worthy to note that you can do it through special attorney.
About Estate Planning Law in Madison, United States
Estate Planning in Madison, United States involves the development of a strategic plan for managing your assets during your lifetime and distributing them after your death, with minimal legal complications and tax liabilities. This process can include drafting wills and trusts, designating beneficiaries, establishing healthcare directives, and tax planning, among other tasks.
Why You May Need a Lawyer
Dealing with the intricacies of estate planning on your own can be challenging. A lawyer's expertise is often needed in situations such as drafting a will, setting up trusts, minimizing estate taxes, navigating probate processes, and addressing disputes related estate's distribution. An estate planning lawyer can also guide you in safeguarding your assets from potential creditors and ensuring your estate is distributed as per your wishes.
Local Laws Overview
In Madison, U.S., numerous local laws govern estate planning. For instance, the state of Wisconsin permits 'self-proved' wills, which are wills confirmed under the sworn statement of the will-maker and witnesses, thus simplifying the probate process. Additionally, the state employs "community property" law, implying all assets acquired during marriage are considered to be owned equally by both spouses. Local estate taxes also apply, and it's essential to understand the exemptions and requirements under Wisconsin law.
Frequently Asked Questions
What is the importance of a Will?
A Will is a legal document specifying your decisions regarding the distribution of your assets, care of minor children, and payment of debts after your demise. Without a Will, these vital decisions are left to state law and courts.
What is Probate?
Probate is the official process of legalizing a deceased person’s will, settling their debts, and distributing their assets. The process varies in length based on asset size and complexity of the estate.
Does having a Will avoid probate?
No. All estates have to go through the probate process. However, having a well-drafted will expedite this process and ensure your desires regarding estate distribution are adhered to.
What is the role of an Executor?
An Executor is a person you name in your will to carry out your wishes after your death, which includes tasks like paying your debts, taxes, managing your estate, and distributing the remaining assets to heirs.
What is a Trust?
A Trust is a fiduciary arrangement that allows a third party, known as a trustee, to hold assets on behalf of beneficiaries. Trusts can be used for various purposes, such as to provide for minor children or dodge the probate process.
Additional Resources
The State Bar of Wisconsin(www.wisbar.org) offers numerous resources related to estate planning. The Dane County Bar Association(www.dcba.net) also provides lawyer referral services and relevant information. Furthermore, you may find comprehensive legal resources and materials related to estate planning at the University of Wisconsin Law Library(https://law.wisc.edu/library/).
Next Steps
If you need legal assistance with estate planning, start by identifying local lawyers specializing in this area. Consult with multiple lawyers to ensure you find one with the right expertise and with whom you feel comfortable. Be prepared with a list of your assets, questions, and your goals for distributing your estate. It's also wise to gather any documentation related to your assets and previous estate planning efforts.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.