Do you have an estate? If yes, you need to plan it properly to secure the future of your children and beneficiaries. An estate doesn't just consist of real estate and a home; it also involves personal possessions, furniture, life insurance, investments, cars, and saving accounts. Even if you don't anticipate that something bad will happen to you, it's good to ask yourself what could happen to your estate when you pass away. Everyone should have a comprehensive estate plan that outlines how their estate will be distributed to those they care about. But since creating one is usually a problem, it's advisable to seek help from an estate planning attorney for the following reasons.
You Easily Avoid the Probate Process
You should outline how your assets or estate get distributed to your beneficiaries or heirs. If you pass away before you do it, the distribution process might involve a legal approach, where the court decides who gets what. It's advisable to avoid the probate process as much as possible because it's usually costly and lengthy. In fact, the process can even take several months or even years before the rightful heirs and beneficiaries get what they deserve. Fortunately, an estate planning attorney helps you avoid probate by helping you create and implement a complete estate plan.
You Enjoy Maximum Protection
Creating an estate plan makes a lot of sense because you protect your family, assets, and even yourself. However, certain documents are required for this to happen. If you pass away before you distribute your estate, the beneficiaries might have various hoops to jump through, and they may even lose part of what they should get in the process. In most cases, an estate plan includes a guardianship nomination, general assignment, medical directive, trust, will, and power of attorney. An estate planning attorney helps you set rules to ensure these documents protect your heirs.
You Definitely Save a Lot of Energy, Time, and Money
Drafting an estate plan may seem a simple task, but it's never a small feat. Some people attempt to create one without involving an estate planning attorney, but they eventually regret their decision. In fact, they make mistakes that later cost them a lot of time, energy, and money to rectify. Hiring an estate planning lawyer is a plus on your side because they help you create an adequate estate plan and even update it whenever it's necessary to do so. By doing so, you avoid paying unnecessary taxes, court costs, and other fees.
So it's always advisable to hire an estate planning attorney when drafting an estate plan because you avoid a lot of problems and make the distribution process much easier. You also protect the rights of your heirs and beneficiaries and ensure they get what they deserve at the right time.
Share28 February 2022
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