You’ve worked hard to accumulate all of your assets and you want to be sure they are distributed to the right people when the time comes. This requires work that you may not have the time or expertise to do on your own. Luckily, you can hire an estate attorney and rest assured that every detail of your plan will be taken care of properly and legally. This can also leave less of a burden on yourself and your loved ones. According to Legal Zoom, more than 77% of adults in America want to work with estate attorneys regardless of their financial strength. But how does an estate attorney lessen your burden? Let’s take a look.
Avoid Probate Process
One of the top reasons for hiring your estate planning attorney is to avoid probate. Probate is the process by which a court oversees the distribution of a deceased person’s property. It’s costly and time-consuming, often taking six months or more to complete. If you have already drafted your will with your estate planning attorney, you can bypass this step and allow loved ones to grieve without the added stress of this process.
Help Your Loved One With Special Needs
If you have a family member with special needs, their public benefits can be put in jeopardy after they receive their inheritance. Fortunately, it’s possible to establish some particular types of trusts so your loved ones with special needs can continue receiving government benefits even after getting an inheritance. When setting up such circumstances, trust doesn’t come easy. It requires proper estate planning and specific knowledge that only a reputable attorney can manage.
Write Your Will
Another notable reason you need a reputable estate planning attorney is to establish your will. A will is crucial because it tells people what they should do with your property when you die. Without a will, it could be hard for your family members to allocate what you left behind. In most cases, this process ends up in the courts, making it lengthy and costly. By writing a will while alive, you avoid leaving your family arguing over the inheritance.
It’s best to hire a professional to ensure everything is done correctly and legally. That way, you avoid any potential issues or problems in the future. Similarly, look into establishing an advance directive that specifies what your wishes are if you’re unable to look after your own health or articulate your desires. This is another way that your family can skip having to make decisions on your behalf.
Avoid Costly Mistakes
You should work with an estate planning attorney because they can help identify and fix mistakes that, if not rectified in time, can be costly in the future. For instance, a minor mistake in your documents, such as one pertaining to insurance policies, title deeds, beneficiary designations, and critical financial documents, can have greater implications than you think.
Common mistakes that people make in their plans include:
- Leaving some family members out of the will
- Not finalizing the process
- Failing to create any estate plans
- Leaving certain assets out
- Failing to update estate plans
Please hire an attorney to review your estate documents to avoid these and other possible mistakes. In case of any mistake, they’ll advise appropriately to make corrections.
Update Documents as Needed
Many things can happen in life, making it necessary to update documents such as will and trust documents. For example:
- Birth of a new family member
- Divorce
- Change in family dynamics or relationships
- Opening or closing businesses
- Aging of trustees
- Getting married
- Changes in retirement plans
Changes such as these need to be updated so that your estate plan can reflect your recent wishes and desires. To update them, you’ll need the help of an attorney to guide you through the whole process and act as your advocate.
Nominate a Guardian for Your Young Ones
It’s hard for most parents to envision a situation where they leave their young ones orphaned. In most cases, one parent names the other as the one who will take care of the child after they’re gone. Unfortunately, an accident can happen and leave both parents unable to care for the child. If they had a guardian nominated in the will, it would become easier for them to care for the kids to receive the upbringing they need and avoid uncomfortable living situations decided in court.
If they had not chosen a guardian, the decision now falls in the hands of a judge. It’s here where the attorneys come in to represent the family. Since they know the deceased better, they’d help make favorable decisions.
The above are some of the reasons that make it easy to see why most people in America embrace the idea of working with estate planning lawyers. Visit the Law Offices of Burton & Beale today for assistance from a competent estate attorney. We’ll help you plan and secure your family’s future.
