Estate planning is essential and can help you plan for the future. Most everyone has property and possessions that they want to pass on to others one day. You may own real estate, vehicles, stocks and investments, jewelry, and other assets that you want your loved ones to have upon your death. You will want to legally designate who will receive your assets and hiring an estate attorney is a good idea.
Estate planning attorneys are board-certified lawyers that specialize in creating and executing legal documents from trusts to wills. They are legal experts who can interpret state laws and take them into account when drawing up legal documents.
Here are the top 3 reasons to hire an estate planning attorney:
Hiring A Lawyer to Plan Your Estate Can Give You Peace of Mind
Once you hire an estate planning attorney to complete the planning of your estate, you can rest easy in knowing that it is taken care of by a professional.
Because estate planning involves more than just creating a will, you can have your attorney help you will an advanced medical directive, power of attorney, creating a living trust, and designating your beneficiaries.
Advanced medical directives are necessary in the event of a medical emergency where you are incapacitated and unable to make decisions concerning your own finances or healthcare. You can designate a trusted person in your life to make decisions in your best interests.
A power of attorney is an important legal document to appoint a trusted person to make legal and financial decisions for you.
Living trusts are legal documents allowing you to place your assets into a trust. You have access to your trust during your lifetime. Trusts can be transferred to your beneficiaries at your death.
Planning can put your mind at ease and keep the state from having the power to allocate your assets after you pass.
Care for Your Children
If you have children under the age of 18, be sure to appoint a legal guardian for them in the event of your death so that the trustee can ensure your assets will be used to care for your children.
If they are over the age of 18, estate planning can help to hold their inheritance in trust until they are old and mature enough to plan for their own financial futures.
Control the Fate of Your Assets
Determining who will receive your assets upon death can help to keep your money and property out of state probate courts. You will want to administer your estate to your loved ones.
When there is no will or estate planning, the courts will control the decedent’s finances, paying final bills, and then distributing their estate. Every state has different probate laws, and the process can be stressful and time-consuming for your heirs.
An estate planning attorney can help you ensure your estate documents are handled correctly and according to your wishes. It’s worth the extra cost to have a professional work on your estate and help you through the process. Learn more about estate planning attorney Daytona Beach.