Best Estate Planning Lawyers in New Hampshire

About Estate Planning Law in New Hampshire, United States

Estate planning in New Hampshire involves the process of arranging how your assets will be managed and distributed after your death or if you become incapacitated. The goal of estate planning is to ensure that your wishes are honored, your loved ones are cared for, and your estate is distributed efficiently and according to state laws. Estate planning can include a variety of legal documents such as wills, trusts, powers of attorney, and advance directives. Proper planning helps minimize confusion, potential conflicts among heirs, and unnecessary taxes or legal costs.

Why You May Need a Lawyer

Estate planning can be complex, and the laws in New Hampshire are unique in certain respects. Here are some common situations where legal help is particularly important:

• If you have substantial or complex assets, such as businesses, real estate holdings, or retirement accounts.
• If you wish to provide for minor children, dependent adults, or loved ones with special needs.
• If you have been recently married, divorced, or widowed, which may affect your existing estate plan.
• If you wish to minimize potential state and federal taxes on your estate.
• If you want to ensure your health care and financial wishes are carried out in case you become incapacitated.
• If you worry about potential disputes among heirs or want protections for specific beneficiaries.
• If you are unsure about how to comply with New Hampshire’s probate and inheritance laws.

An experienced estate planning attorney can help you draft legally valid documents, explain your options, address any complications, and update your plan as your life changes.

Local Laws Overview

New Hampshire has its own set of laws that govern estate planning. Here are some key points to keep in mind:

• Wills: In New Hampshire, anyone 18 or older and of sound mind can make a will. Wills must be in writing and signed by the testator (the person making the will) in the presence of at least two witnesses.
• Probate: Estates generally go through New Hampshire’s probate process, administered by the Circuit Court’s Probate Division. Small estates may qualify for a simplified procedure.
• Trusts: New Hampshire allows for various types of trusts, including revocable, irrevocable, and special needs trusts. The state is known for modern, flexible trust laws that may benefit those considering asset protection or multi-generational planning.
• Intestate Succession: If someone dies without a valid will, New Hampshire’s intestacy laws determine how assets are distributed. Typically, assets go to close relatives such as spouses, children, or parents according to specific rules.
• Advanced Directives and Powers of Attorney: You can designate someone to make health care or financial decisions for you if you become incapacitated using documents such as a durable power of attorney or advance directive.
• Estate Taxes: New Hampshire does not have a state estate tax or inheritance tax, but federal estate tax may still apply to very large estates.
• Homestead Exemption: The state offers a homestead exemption that provides limited protection for equity in your primary residence from certain creditors.

Frequently Asked Questions

What is probate and does every estate in New Hampshire have to go through it?

Probate is the legal process of proving a will and administering an estate. Not all assets must pass through probate in New Hampshire. Some assets, such as those held in joint tenancy, beneficiary designations, or trusts, may avoid probate entirely.

Do I need a will if I have a small estate?

Even with a small estate, having a will is beneficial because it clearly states your wishes and can simplify the distribution process. New Hampshire also offers simplified probate options for smaller estates.

Are handwritten wills valid in New Hampshire?

New Hampshire recognizes handwritten (holographic) wills if they meet legal requirements, such as being signed and witnessed properly. However, these wills should still comply with the formalities outlined in state law to avoid challenges.

Can I change my will after it is made?

Yes, you can update your will at any time as long as you are of sound mind. Updates can be made through a codicil (a legal amendment) or by creating a new will.

What happens if I die without a will in New Hampshire?

If you pass away without a valid will, New Hampshire’s intestacy laws determine how your assets are distributed, usually to your closest relatives. This process may not align with your personal wishes.

What is a durable power of attorney?

A durable power of attorney is a legal document that designates someone to handle your financial or legal matters if you become incapacitated. It remains in effect if you are no longer able to make decisions for yourself.

How do trusts work in New Hampshire?

Trusts can be used to manage assets during your lifetime and distribute them after your death. New Hampshire has trust-friendly laws, including the ability to create perpetual (dynasty) trusts and asset protection features.

How do I provide for a minor child in my estate plan?

You can appoint a guardian for your minor child in your will and use trusts to manage financial assets for their benefit until they reach a specified age.

Are there taxes on inheritances in New Hampshire?

New Hampshire does not have an inheritance or estate tax. However, the federal estate tax may apply to large estates exceeding certain thresholds.

How often should I update my estate plan?

It is wise to review your estate plan after significant life events, such as marriage, divorce, birth of a child, major changes in assets, or moving to or from New Hampshire. Regular reviews help ensure your plan reflects your current situation and wishes.

Additional Resources

Here are some resources that can provide more information or assistance on estate planning in New Hampshire:

• New Hampshire Judicial Branch - Circuit Court, Probate Division: Information on probate procedures, forms, and court locations.
• New Hampshire Bar Association: Offers a directory of attorneys and public legal education resources.
• New Hampshire Legal Assistance: Provides civil legal services to low income individuals, including guidance on wills and estates.
• New Hampshire Bureau of Elderly and Adult Services: Information and resources for elderly residents and their families about future planning.

Next Steps

If you are considering creating or updating an estate plan in New Hampshire, here are the steps you should take:

1. Gather information about your assets, liabilities, family situation, and any special considerations (such as minor children or charitable wishes).
2. Decide what your goals are for asset distribution, guardianship, and who should act on your behalf if you are unable.
3. Consult with a qualified New Hampshire estate planning attorney. A legal professional can explain your options, ensure documents meet legal standards, and help prevent costly mistakes.
4. Review your estate plan regularly and update it as your circumstances change.
5. Store your estate planning documents safely and inform trusted family members or your attorney about their location.

Taking action now can give you and your loved ones peace of mind. If in doubt, seek legal advice to make sure your wishes are protected under New Hampshire law.