ATTORNEYS AT LAW
1009 W 7TH AVENUE
ANCHORAGE, ALASKA 99501
TELEPHONE: (907) 279-4529
FAX: (907) 279-9223
ESTATE PLANNING:
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.
© 2000 by Pradell and Associates. This newsletter
is not intended to provide legal advice.
CHECK OUT OUR HOME PAGE ON THE INTERNET
Http://www.alaska.net/~pradell
Steven Pradell's book, The
Alaska Family Law Handbook, is available at the office
or in local bookstores for $9.95
YOUR REFERRALS ARE APPRECIATED.
©2000 By Pradell and Associates. This article is not intended
to provide legal advice and should not be relied on for that purpose.
The law office of Pradell and Associates provides low cost legal
consultations. A helpful staff provides prompt, courteous services
to meet your legal needs. Give Pradell and Associates a call today,
at (907) 279-4529-- (279-4LAW).
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