If you haven't already started planning your estate with legal documentation, it's time to do so now. According to Advance Capital Management, 70% of Americans don't have a recent will or other estate document. To make the process easier, start by using some of these questions when you meet with estate planning lawyers.
You may be intimidated by what type of documentation you should use to map out your estate. The two most common ones are a will and a trust. You may also want to begin handing off your assets while you're alive. Your local estate planning attorney will go over all of your options that are best for the size of your estate and how many beneficiaries you have.
If you have a will, probate is a legal requirement. Unfortunately, probate can last as long as a year, sometimes longer, depending on how your will was structured. Plus, probate is a time for creditors and anyone else to claim your estate. Avoid this hassle by putting your estate in a trust or beginning to designate assets while you're still alive.
Guess what? The fact that you're meeting with an estate attorney is a first step in the legality of your asset designation. For example, if you have a will, the rules and regulations can vary from state to state, but the standard aspects include having a witness, an executor, and naming your beneficiaries. Your estate attorney will ensure the documentation is legal and that you understand everything involved. They will file all the necessary paperwork so you can be relieved of any stress.
Have you decided to add or remove any beneficiaries? Have you gone through a divorce or recently lost a spouse? Are you worried about your physical or mental capacities as you age and want to ensure you have someone appointed as your power of attorney or medical spokesperson? These various life events are all reasons to quickly make updates to your estate documentation.
Your local estate planning lawyers are available to make your future passing easier for your loved ones. They can give you peace of mind that your family, friends, and charities will be taken care of. For an experienced firm that you can trust, contact Estate Law Solutions for a consultation.
Share On: