Have you been intending on finishing your estate planning? Estate planning can be a rather long process with complicated terms and procedures that people generally don’t fully understand. Regardless, it is still very important for everyone to keep their affairs in order as soon as possible. All wills are subject to courtroom proceedings that go by the name of probate. In cases where no will is in place, it is possible for your assets to be at the court’s disposal. This is why many prefer to sit with an estate planning attorney to make sure that all the arrangements are made for all kinds of possible scenarios.
Contrary to popular belief, estate lawyers are a helpful tool that you can use regardless of your net worth. Your tangible assets need to be evaluated well in order for you to get an idea of the planning that needs to be done. Through an attorney, this while process speeds up and you don’t have to worry about the credibility of the values attached to you.
Many people avoid getting themselves an attorney when planning their estate. The truth is that estate lawyers are not so much an expenditure are much as they are an investment. A good estate lawyer can take you through the whole legal framework whilst explaining the whole structure and all the terminology. This means that you don’t have to rely on the word of a friend or do your own guesswork. With estate planning, it is always suggested that you spend some extra money and get someone on it who knows the reigns.
Your will is not as simple as assigning a beneficiary and a contingent beneficiary and getting done with it. It covers a wide range of scenarios, some of which even include you being alive. In a case where you get into a bad accident and are rendered in a vegetative state, a living will ensure your wishes are followed by loved ones. There can be many such directives that you have prepared for any number of situations wherein you feel that you want things to go a certain way. For example, your estate attorney can designate the power of attorney to someone if need be and this power can be customized. You can also assign a guardian for your children through these specific directives (after careful consideration). This is something that you will want to do as the other scenario would involve the court appointing a guardian for your children.
Another key component of any estate planning procedure is the usage of trust. Through meticulous use of trust, you will be able to cover all possible scenarios that may arise without the court having to intervene. Even an uncontested will takes a while to be processed by the court and it is always better to have a mechanism in place in case something happens to you. In an unfortunate event, this will ensure that the will is processed quickly and there are no unwanted delays in the procedure.
The federal laws and probate regulations are subject to constant change. If your will does not meet the requirements of the court, there is always a chance that your assets may not flow the way you wanted them to. This is why it is very important to find yourself a good estate planning lawyer who can keep your will up to date so that it is recognized in the eyes of the court. At Dsouza & Strachan Law Group, you will find the perfect attorney who can help you with the distribution of your assets and will manage your estate planning wishes in a no-nonsense fashion.