Keith Magness Offers Tips for Estate Planning
In today's state of economic uncertainty, estate planning can be especially difficult and many experts are offering tips for solid preparation. Attorney Keith Magness provides further advice on the matter.
Online, August 2, 2012 (Newswire.com) - Of the many things that Americans choose to avoid, estate planning ranks as one of the highest. Many avoid estate planning because of the morbid thoughts that it involves, but the practice also requires thorough analysis of one's assets, personal relationships and financial stability. A new article from Fox provides wary individuals with helpful hints on how to go about dispersing their assets after their death. One of the hints that the article offers is to consult professionals who understand the complex nature of estate planning. Keith Magness, a Louisiana-based attorney, is one such professional who offers advice on the process of estate planning.
Some individuals may avoid estate planning, because they feel that their assets are of no essential worth or that their family members have no interest in their belongings. However, according to the article, even humble assets require planning. Diana Zeydel, a Miami-based attorney and estate planner tells Fox, "Even if you feel you have modest assets, the lives of your family will be far more complicated if you do not prepare your own will." Keith Magness indicates that an individual must keep proper records, including those pertaining to various insurance policies, and make sure that beneficiaries are clearly designated.
Choosing beneficiaries is another challenge that the article addresses and is one hurdle that Magness often helps his clients jump. According to Fox, Ted Kurlowicz, taxation professor at Pennsylvania's American College notes, "Family discord can be minimized if all participants have an opportunity to participate and be heard." For Keith Magness, this means discussing the implication's of one's will with everyone involved to make certain all possible problems are addressed and resolved.
Above all else, the article recommends that those who begin estate planning should always see the project through to the end, as open ends could create more legal problems than having no plan at all. For those still on the fence of creating an arrangement, Keith Magness concludes, "At a minimum, individuals should consider an estate package consisting of a simple will, a living will and durable and medical powers of attorney. Doing so will assist in ensuring your final wishes are honored, and help minimize any family discord over end of life and/or inheritance decisions."
ABOUT:
Keith Magness is an attorney serving the state of Louisiana. He is the founder of his firm, the Law Office of Keith L. Magness, LLC. He practices several areas of law including family law, automotive accidents, estate planning, criminal defense and contract disputes. Prior to becoming a respected legal representative, Magness served as a Military Police Officer in the U.S. Marine Corps Reserve in New Orleans, Louisiana. Today, Keith remains committed to his country by working to protect the law and ensure that the justice system operates with fairness to all citizens.
To learn more about his legal services and practice, visit www.magnesslaw.com.