ATTORNEYS AT LAW
 
1009 W 7TH AVENUE
 
ANCHORAGE, ALASKA 99501
 
TELEPHONE: (907) 279-4529
 
FAX: (907) 279-9223

By Steven Pradell

Alaska is a state where many young people have become successful in a short time. This state has been described as a land of opportunity. Many Alaskans do not feel that they need to prepare a will or to have other protections in place in case an unforseeable event occurs which affects our health, or our ability to decide for ourselves what steps to take. However, Alaska is also a land where earthquakes, economic downturns, and other catastrophes do sometimes occur.

Proper estate planning can offer protection of your assets and security. It can also assist in building your retirement income, reducing taxes, and providing for your loved ones.

Some of the estate planning issues which you may address with an attorney's assistance include the following:

Should you prepare a will?

How do you select a proper Executor and Trustee for your estate?

Who should own your assets if you die?

Can you dispose of a jointly held property?

Should you set up a living trust?

How do you forgive debts?

How will tax on capital gains affect your estate?

Is life insurance adequate to provide sufficient protection for your family?

Do you need a marriage contract, or a prenuptial agreement?

Are there any steps you can take to avoid Probate?

LIFE-PLANNING:

New technology has helped modern medicine to expand the life expectancy of adults, and it is likely that many of us will live longer than our parents. Legal issues have arisen when strokes, heart attacks and other medical catastrophes may result in conditions when it becomes impossible to decide for ourselves our wishes for life support.

In the area of life planning, an attorney can assist you in determining whether to give financial power of attorney to another individual to assist in making important decisions regarding your finances. Other issues in this area include:

Should you create a living will to express your desires for future medical care?

Should you grant power of attorney to another to carry out your wishes for life support, donor gifts and resuscitation?

Will doctors follow your desires in a living will?

Can a living trust save you money and taxes and bypass probate?

These decisions are often difficult to make and many people simply avoid them. However, proper planning can prevent litigation, aggravation, and family feuds if the state becomes the decision maker regarding your assets and your health. At Pradell and Associates, you can set up a consultation and speak with an attorney to determine if any estate or life planning decisions should be made now, before you are too ill to property decide for yourself what to do with your life and your property. A helpful staff provides prompt, courteous services to meet your legal needs. Give Pradell and Associates a call today, at (907) 279-4529.

Steven Pradell is an Anchorage Attorney with a practice emphasizing wills and probate, family law, personal injury, and criminal law. This article is not intended to provide legal advice and should not be relied on for that purpose.