Best Private Client Lawyers in New Hampshire

About Private Client Law in New Hampshire, United States

Private Client law in New Hampshire refers to legal services provided to individuals and families to manage, protect, and transfer their wealth. This area of law focuses on personalized legal advice regarding estate planning, trusts, probate, tax matters, guardianships, elder law, business succession, and charitable giving. New Hampshire has unique laws and tax structures that can greatly impact these matters. Whether you want to secure your family’s future, protect assets, or navigate complex legal processes after a family member passes away, Private Client attorneys play a crucial role in ensuring compliance and achieving your goals.

Why You May Need a Lawyer

People often seek legal help from Private Client lawyers in New Hampshire for a variety of personal and financial reasons. Common situations include:

• Drafting or updating a will or trust to outline your wishes for your property and loved ones
• Probate and administration of a deceased person's estate
• Planning for incapacity and long-term medical care, including establishing powers of attorney and health care directives
• Asset protection and minimizing estate or inheritance taxes
• Resolving disputes among heirs, beneficiaries, or fiduciaries
• Charitable planning and setting up foundations or nonprofit organizations
• Business succession planning for family-owned businesses
• Guardianship or conservatorship proceedings for minors or incapacitated adults
• Navigating special needs planning for disabled family members
• Setting up trusts for minors or beneficiaries with specific needs

Working with a skilled attorney can help you avoid costly mistakes, ensure your wishes are honored, and make complex processes much more manageable.

Local Laws Overview

New Hampshire’s Private Client laws have distinct characteristics compared to other states:

• No State Estate or Inheritance Tax: New Hampshire does not impose a state-level estate or inheritance tax, which can benefit estate planning strategies.
• Probate Process: Probate in New Hampshire is handled by the Circuit Court Probate Division and may be streamlined under certain circumstances, such as for small estates. However, complex estates can require substantial court involvement.
• Recognition of Non-Probate Transfers: Certain assets like joint accounts, payable-on-death accounts, and revocable trusts pass outside of probate, simplifying transfer of assets in many cases.
• Advance Directives and Powers of Attorney: New Hampshire recognizes advance directives, living wills, and durable powers of attorney, allowing you to specify health care and financial preferences in advance.
• Homestead Exemption: The state provides a limited homestead exemption, allowing homeowners some protection against certain creditors.
• Trust-Friendly Laws: New Hampshire is seen as a favorable state for forming various types of trusts, including irrevocable and dynasty trusts, due to its flexible laws and favorable tax environment.
• Guardianships: The state provides legal procedures for appointing guardians for minors or incapacitated adults when needed.

Since laws and procedures are regularly updated, consulting a local attorney ensures your strategies are current and compliant with state-specific regulations.

Frequently Asked Questions

What is the difference between a will and a trust?

A will is a legal document that spells out how your property should be distributed after your death and names an executor to manage your estate. Probate is typically required to carry out the terms. A trust is a separate legal entity that holds assets for beneficiaries and can help avoid probate. Trusts can also address specific needs such as minor children, asset protection, or long-term care.

Does New Hampshire have an estate or inheritance tax?

No, New Hampshire does not have a state-level estate or inheritance tax, although federal estate tax may apply to larger estates. Other states may have such taxes, so moving or owning property out of state could affect your estate plan.

What does probate involve and how long does it take?

Probate is the court-supervised process of validating a will, paying debts, and distributing a deceased person’s assets. In New Hampshire, this process may take several months to a year or more for complex estates. Some assets, such as those held in trust, may avoid probate.

Why should I consider a living trust in New Hampshire?

A living trust allows your assets to be managed during your lifetime and easily transferred after your death, often without going through probate. This can save time, preserve privacy, and reduce legal costs for your heirs.

What happens if I become incapacitated without a power of attorney in place?

Without a durable power of attorney or advance directive, a court may need to appoint a guardian or conservator to manage your affairs. This process can be time-consuming, expensive, and may not reflect your preferences.

Who takes care of minor children if I die without naming a guardian?

If no guardian is named in your will, the New Hampshire courts will decide who will raise your children, prioritizing their best interests but possibly resulting in outcomes you may not have chosen.

How can I provide for a family member with special needs?

Establishing a special needs trust allows you to provide for a disabled family member without jeopardizing their eligibility for government benefits such as Supplemental Security Income (SSI) or Medicaid.

Are handwritten wills valid in New Hampshire?

New Hampshire generally requires wills to be in writing and witnessed by at least two people. Holographic (handwritten and unwitnessed) wills are not recognized unless executed in another jurisdiction where they are valid.

Can I disinherit a family member?

New Hampshire law allows you to disinherit most family members in your will, except that spouses have a statutory right to claim an “elective share” of the estate unless waived by agreement.

When should I update my estate plan?

Consider updating your estate plan after major life events such as marriage, divorce, birth or adoption of a child, a significant change in assets, moving to another state, or changes in tax laws. Regular check-ins every three to five years are also advisable.

Additional Resources

Here are some helpful governmental bodies and organizations for Private Client matters in New Hampshire:

• New Hampshire Judicial Branch - Probate Division: Handles estate administration, guardianships, and related matters
• New Hampshire Bar Association: Lawyer referral service and information on trusts, estates, and elder law
• New Hampshire Department of Health and Human Services: Provides information on Medicaid, elder care, and special needs resources
• New Hampshire Attorney General’s Office - Charitable Trusts Unit: Oversees charitable organizations and nonprofit compliance
• Local banks and trust companies: Often offer trust and fiduciary services and can help manage estate assets
• Area Agencies on Aging: Provide guidance for seniors and caregivers on legal and social services

Next Steps

If you need legal assistance related to Private Client matters in New Hampshire, here are some steps to consider:

• Identify your specific needs, such as drafting a will, setting up a trust, or planning for incapacity
• Gather relevant documents, including previous wills, financial records, titles, and beneficiary designations
• Contact a qualified attorney who specializes in estate planning, probate, or elder law in New Hampshire
• Prepare questions in advance and be ready to discuss your personal and financial circumstances
• Discuss fees, timelines, and the anticipated process during your first consultation
• Stay involved in updating and maintaining your estate plan, especially as your life and laws change

Taking proactive steps with the help of a knowledgeable legal professional will give you peace of mind and help provide financial security for you and your loved ones.