More than half of Americans leave the world without a proper will or an estate plan. Since they have not created the financial plans in their living, the state often transfers the assets to the deceased person’s closest relatives. The state also decides where the young children of the deceased are sent as well as their property if the other parent is unable to take care of them. However, with the help of an estate lawyer, these decisions can be made thoughtfully in advance.
An estate lawyer is a bar certified attorney who helps and guides their clients in choosing the correct options for maintaining their estates and property after death, mental disability or incapacity. Every person has different wishes. Some wish to distribute their wealth and property equally between their family members while others may have other desires about their assets. A qualified estate lawyer will not only describe the various options available but also make sure that your last wishes are carried out according to the law.
It is important to choose an estate lawyer who is experienced and understands your unique family and financial situations. The estate attorney should also be well informed about the laws of your certain state. You should also be comfortable with your estate planning lawyer in order to share the most intimate details of your life.
An estate planning lawyer can help you in various ways such as:
- prepare a power of attorney according to the requirements of law
- advice ways on how to reduce taxes on your estate property
- prepare a will
- establish a living trust
- pass the property to the client’s family members as desired
- makes sure that your property is protected from inheritor’s creditors and predators
- And much more.
Who should hire an estate lawyer?
Estate planning is an important and often the most neglected part of any financial planning. Of course, it may seem simple for those who have few assets as well as no complicated family situations. But in truth, Estate planning is beneficial in assuring that finances are properly handed over to the heirs as well as medical decisions are made in advance and the heirs receive fair amount of the total assets.
An experienced and qualified estate planning attorney can help ensure that your property is managed smoothly even after your demise and makes sure your wishes to distribute your property and other wealth is carried out the way you want.