Financial and Estate Planning
At the core of our financial and estate planning protocol, we strive for the appropriate distribution of assets, while ensuring financial security and protection from unnecessary taxes.
At Bevilaqua & Bevilaqua we handle:
- Ancillary Estate Planning
- Living trusts
- Powers of Attorney
- Last Will and Testament
By realizing your wishes and by completing the proper forms you gain peace of mind knowing that your family and estate planning are taken care of.
This simple task will have a positive impact on your immediate family and on the generations to come. Each family is unique and has a different set of financial and estate concerns. Our attorneys work to get to know you personally and respond to your estate planning needs.
The lasting impact these documents have on your security assures us that it needs to be completed accurately, efficiently and with family in mind. This is a personal process and our intention is to make sure you feel secure and content with your decisions. It is better to plan ahead rather than be taken by surprise. Let our highly experienced team of attorneys represent your interests.
Last Will and Testament
At Bevilacqua & Bevilacqua we see it as an honor and privilege to complete and oversee your last will and testament. Our attorneys strive to make the process as simple and specific to your needs as possible.
What do I need to know about wills?
- For a will to be legal, the individual completing the will must be at least 18 years old, have all of their faculties in check, and the document must not be written under pressure.
- At any point in time, you are able to make changes to your final document to have it most accurately reflect your wishes.
- Having a system in place prevents your family from facing additional challenges and grievances when you or a family member becomes ill or passes away.
What happens if I don’t have a will?
If an individual passes away without having a will, then it becomes a probate case.
This is a tedious and formal process that very rarely reflects the true wishes of the deceased. Without a lawyer, the court decides how to distribute assets.
Probate Attorneys in Rhode Island
With years of experience, we have witnessed the probate process put a strain on familial relationships while making the loss of a relatively more difficult.
What do Probate Attorneys do? Why would I need one?
Probate attorneys handle inheritance laws, property rights, will forms, and more. Bevilacqua & Bevilacqua assists individuals in the Rhode Island area who are in the midst of straightening these conflicts out.
Normally, heirs and beneficiaries go down this path because they believe the execution of the will is not in line with the wishes of the deceased. Whether the executor of the will did not dutifully carry out their wishes or it is believed that a family member took advantage of the patient’s diagnosis to insert him or herself into the will; either way it is the right of the deceased to have their requests met.
If you find yourself in either of these scenarios, you have the right to challenge them in court. Our attorneys can recognize the telltale signs of negligence and manipulation. Having this difficult situation handled with the utmost professionalism, dignity, and care is the foundation of our work ethic. By hesitating to hire our attorneys, you risk your case being dismissed and not properly investigated in court.
Understanding Power of Attorney In Rhode Island
At Bevilacqua and Bevilacqua we assist families with filling out the documentation needed for a power of attorney. In Rhode Island, there are forms available online but sometimes it is necessary to discuss and understand what the document says and means.
What is a Power of Attorney?
A power of attorney is a document that allows you to choose another individual to handle your affairs. Non-durable, Durable, Limited, Medical, and Springing are different types of power of attorney (POAs). When choosing any of these POAs, choose an individual who will complete your wishes and lives nearby.
If you are appointing someone to manage your assets, then you are the agent. If you are being appointed, then you are the principal. A non-durable power of attorney is used for only a fixed amount of time and usually completes a singular task for the individual they represent.
Types of Power of Attorney
Durable powers of attorneys give agents the power to supervise all of the individual’s affairs. Limited POAs are normally designated to complete a one-time transaction.
A medical power of attorney makes healthcare-related decisions on behalf of the principal. This is a big responsibility and you want to make sure that whomever you appoint to this position, you trust.
A springing power of attorney takes effect after a certain amount of time and after a specific event takes place. This type of power can be either durable or non-durable.
As you can see, there are many variations of power of attorneys. Having a lawyer you can trust to explain and advise on the best course of action, makes for a successful outcome.
Revocable Living Trust
Why would I need a living trust?
Living trusts are a smart decision if you are concerned about illness or the ability to make sound decisions with older age. Appointing someone you trust to manage your assets in this way is seamless and easy.
Revocable living trusts can be another way to prepare for the future of your family and estate.
What should I know about trusts?
Trusts should be filled out in person rather than online, to prevent any confusion or misinterpretation. Completing these documents alongside a credible attorney at Bevilacqua & Bevilacqua can make all of the difference.
Due to the fact that it takes effect at the moment assets are transferred into the trust, it is harder for anyone to make false claims. Saying that you were not of sound mind or that you were manipulated into completing the document would not hold up in court.
When handled properly, living trusts will not have to fall into the probate process. You must keep the trust up to date with the correct information of the beneficiaries and any new properties, whether inside or outside of the state of Rhode Island.