How Can You Protect Your Assets Through Estate Planning?
When people think about estate planning, they often imagine it’s something only the wealthy need to worry about. The truth is, estate planning is important for anyone who wants to protect what they’ve worked hard for and support their loved ones in the future.
Whether you have a modest home or a growing portfolio of investments, putting the right plans in place is critical. Having a skilled and confident estate lawyer can make a real difference. At the Law Office of Justin S. Eppler, LLC, we’re proud to be a top local choice when you need an estate planning attorney in Anchorage, Alaska.
Let’s break down what estate planning really is, how it can protect your assets, and why working with an experienced attorney is one of the smartest steps you can take. Read on to learn more.
What Is Estate Planning?
Estate planning is the process of arranging for the management and distribution of your assets after you pass away—or if you become incapacitated and can’t manage them yourself. It's not just about a will. It's about making sure your wishes are followed, your family is protected, and your finances are handled the way you want.
Good estate planning includes:
Naming beneficiaries
Planning for estate taxes
When you work with an experienced estate planning attorney in Anchorage, Alaska, you’re getting the support you need to make thoughtful choices today that’ll make a huge difference tomorrow.
Why Is Estate Planning So Important?
Without a proper estate plan, your family could face a long, expensive, and emotional court process after you're gone. Assets might not be distributed the way you would have wanted. Worse, your loved ones could be left fighting over property, money, or even custody of children.
At the Law Office of Justin S. Eppler, LLC, we can help you avoid:
Probate battles
Excessive estate taxes
Legal disputes among heirs
Unwanted government involvement in your personal affairs
According to a study by the U.S. Government Accountability Office (GAO), without clear directives, assets can get tied up in probate for months—or even years—leading to unnecessary legal costs and stress for families. This fact highlights how crucial it is to have a comprehensive plan in place.
How an Estate Planning Attorney Can Help Protect Your Assets
You could try to put together a basic estate plan on your own, but there’s no substitute for the knowledge and experience of a skilled lawyer. An experienced estate planning attorney will tailor your documents to fit your specific goals, your family dynamics, and Alaska’s unique laws.
Here’s how a strong estate planning attorney can help:
Drafting Customized Wills and Trusts
Cookie-cutter documents won’t cut it if you have blended families, special needs children, or complicated investments. A well-written trust or will can spell out exactly who gets what—and when.
Setting Up the Right Type of Trusts
Trusts aren't just for the wealthy. A trust can protect your assets from creditors, lawsuits, and even ex-spouses. Plus, trusts can help you avoid probate entirely.
Reducing Estate Taxes
Alaska currently doesn't have a state estate tax, but federal estate taxes could still impact larger estates. A thoughtful strategy from your estate planning attorney could significantly reduce what your heirs owe.
Protecting Minor Children
If you have young children, your plan should name guardians for them. Without a clear designation, a court could choose someone you would not have selected.
Planning for Incapacity
It’s not pleasant to think about, but serious illness or injury can leave you unable to make financial or healthcare decisions. Powers of attorney and advanced healthcare directives let someone you trust step in when needed.
Common Tools Used to Protect Your Assets
When you meet with a skilled estate planning attorney in Anchorage, Alaska, they’ll likely discuss a range of tools that can safeguard your property and care for your loved ones:
Revocable Living Trusts
These are flexible trusts you can alter during your lifetime. They allow for private transfer of your assets after death, skipping the public probate process.
Irrevocable Trusts
While harder to change, these trusts can offer excellent protection against lawsuits and can help minimize estate taxes.
Durable Powers of Attorney
A trusted individual can make financial decisions on your behalf if you’re ever unable to do so yourself.
Advance Healthcare Directives
These documents allow you to spell out your medical wishes ahead of time, avoiding uncertainty if you're ever seriously ill.
Beneficiary Designations
Retirement accounts, insurance policies, and payable-on-death bank accounts should have up-to-date beneficiary forms, separate from your will.
Key Reasons to Start Estate Planning Now
Too many people put off estate planning until it’s too late. Here’s why you should start sooner rather than later:
Unexpected illness or accidents: Life can change in an instant. It's better to be prepared.
Young children: If you have kids, it’s vital to have guardianship plans in place.
Business ownership: Protect your business and lay out succession plans.
Blended families: Avoid inheritance disputes by making your intentions clear.
Growing wealth: Even modest estates benefit from proper planning.
Working with a skilled estate planning attorney in Anchorage, Alaska—someone who’s familiar with cases throughout Fairbanks, Juneau, Wasilla, and Palmer—can give you peace of mind that your wishes will be honored. Call us at the Law Office of Justin S. Eppler, LLC.
Mistakes to Avoid When Planning Your Estate
Estate planning mistakes can cost your family time, money, and emotional stress. Some common errors include:
Failing to update documents after major life changes (divorce, new children, major financial shifts)
Forgetting to fund trusts after they’re created
Choosing the wrong person as executor or trustee
Not planning for long-term care or incapacity
Thinking a simple will is "good enough" for a complicated estate
A confident and skilled estate planning attorney will guide you away from these pitfalls and toward a rock-solid plan.
How a Skilled Estate Planning Attorney Makes a Real Difference
The right attorney brings much more than legal knowledge. A skilled, confident, and personable estate planning attorney will:
Take time to understand your goals
Offer solutions tailored to your unique situation
Explain everything in clear, understandable language
Stay up-to-date on Alaska-specific laws that could affect your estate
Be available to update your plan as your life evolves
Whether you’re based in Anchorage or you live elsewhere in Alaska, like Fairbanks, Juneau, Wasilla, or Palmer, choosing the right partner for this process can give you true peace of mind.
5 Frequently Asked Questions About Estate Planning
1. When should I start estate planning?
It’s never too early. As soon as you have assets or loved ones you want to protect, it’s time to think about an estate plan.
2. Do I need an estate plan if I’m young and healthy?
Yes. Estate plans aren’t just for the elderly. Young adults benefit from powers of attorney and healthcare directives too.
3. Can I update my estate plan later?
Absolutely. A good estate planning attorney will build flexibility into your documents and help you revise them as your life changes.
4. How often should I review my estate plan?
Review your plan every few years or after any major life event like marriage, divorce, childbirth, or a big financial change.
5. What happens if I die without a will in Alaska?
If you die without a will, Alaska’s intestate succession laws determine who inherits your property. This might not match what you would have wanted.
Protect Your Future Today
If you live in Anchorage, Alaska, or anywhere nearby like Fairbanks, Juneau, Wasilla, or Palmer, a skilled estate planning attorney can walk you through every step of the process with care, confidence, and clarity. Don’t wait for a crisis to force your hand. Take control of your legacy now—with the help of someone who knows how to get it done right. Call us at the Law Office of Justin S. Eppler, LLC.
