Posted on: 18 May 2022
An estate lawyer is one of the professionals you should have if you want to strategize. They specialize in the entire probate process, especially ensuring that your family gets the best guidance when distributing your assets. If you have started the estate planning process but are unsure about the potential role a lawyer plays, consider hiring one. They will help you with the following aspects of the estate planning process.
They Draft the Testament
Some people think that the process of creating the last will is simple. Many people write down what they believe should happen to their estate and believe it is legally binding. However, some laws govern the entire process, so your executor might have trouble with the execution process if it does not follow the law. The estate planning lawyer will assess and edit the documents for you, ensuring that they are binding and legal. It will simplify the entire estate planning process and get everyone the ideal outcome.
Help Avoid Unnecessary Taxes
Hiring a competent lawyer also comes with a set of financial benefits. Poor estate planning can leave you paying hefty estate taxes, something you can avoid by following the right legal advice. A competent lawyer will assess your property and guide you on whether to establish trust and if it should be revocable or irrevocable. It will affect the taxes. They will help you set up all the protective measures to keep the vultures away from your investment. The lawyers also stay updated with the legislative updates and will be the first to inform you when there are new laws governing the estate planning process.
Planning Health Care Directives and Power of Attorney
It is also great to have sound health care directives in place in instances when you might not have the physical or mental capacity to decide your fate. The lawyer helps you organize yourself in case sickness or accident leaves you incapacitated, your family can easily refer to the directive you have left in place, especially concerning power of attorney. It will help avoid conflict when your loved ones have to make critical decisions. It also gives you a chance of getting the best outcome.
These are a few of the services to expect from a will and estate planning lawyer. Consult a trusted and reliable professional about your needs and get the best assistance with all aspects of your estate planning process.Share