Estate planning lawyers are useful during both the estate planning procedure and after the procedure has been completed through probate court. They know the federal and state laws which will affect your estate. An estate-planning lawyer can also help you with several other tasks:
Making a will is something you should do if you want to avoid probate. A will does not have to be made in person and can be done online using an electronic document transfer agent. A will tell who your beneficiaries are and how those beneficiaries are defined. It can also define who may receive gifts from your estate and revocable trusts. Before you make a will, however, it’s a good idea to seek legal help and advice from an estate planning attorney.
Probate court is where probate is handled. Probate court is a lengthy and drawn out process where numerous affairs are settled and the property is distributed among the deceased individual’s beneficiaries. There are many reasons an estate planning attorney might be called in to defend a client in court. Many people end up having to go to court after they’ve had a heart attack or stroke, or maybe die unexpectedly. Other times people are sued for debts they have never received.
When people die unexpectedly, there can be huge consequences if the proper procedures are not followed. An estate plan can cover the entire process from start to finish. Estate plan lawyer can assist in creating the will, making the durable power of attorney, executing it and revocable or unasset-type trusts. The will is the most important part of the entire process as it dictates who gets what money after a death. Assets left behind can be accessed only through a will. A trust planning attorney can draft a trust, make sure it complies with legal requirements, protect assets and ensure the deceased person’s final wishes are followed.
Another reason people hire an estate planning attorney is so they can be properly educated about financial issues. A financial advisor may also be called in to help determine how much money should be transferred to the family, how to handle estate planning in the case of an emergency and other such matters. If an estate planner does not adequately educate clients on financial issues, then clients may run into trouble later on. Some estate planners don’t even have the appropriate licensing or certification to discuss financial issues, so it’s important to make sure the individual has the proper training.
Estate planning can be stressful, especially for women. There are a lot of emotions to think about and keeping track of assets can become overwhelming quickly. It is extremely important that assets are not misplaced or mismanaged in any way, so it is smart to have a solid financial advisor at hand to help with these issues. Also, a good estate planning attorney will be able to provide support during the transition of an individual’s life from their childhood years to their senior years. They will be able to help individuals organize their finances, keep copies of important documents and assets, and conduct interviews with family and friends to learn what will happen to all of an individual’s assets in the future.