When you think about hiring a real estate lawyer, it might seem a little unsettling. However, let’s look at these reasons and why you might require them.
#1 Everyone Passes Away
It’s important that your family is ready. Estate planning gives you a voice when you longer have one.
Your will is an essential part of your estate plan. This document says what should happen with your assets when you pass away. Over 35% of American adults say they have personally experienced family conflict or know someone who has experienced family conflict as a result of not having an estate plan or will in place.
An experienced estate planning attorney can help you or your loved ones through the process of getting all your documents completed and documented. An attorney will help make certain everything is prepared, so that your family doesn’t have to stress.
#2 Your Assets Need Managed
A trust helps manage assets before someone dies. If you only have one or two assets you want given to someone, a will is adequate. However, if you own extensive property, ask an experienced attorney about setting up a trust. This will help your family keep living in your home, even after you’re gone without worrying about it being sold out from under them.
#3 Help Your Family Avoid Probate
The probate court oversees the distribution of a person’s estate according to the instructions in their will. Probate can be a lengthy and expensive process, depending on where you live and the complexity of your assets or family situation.
The probate process can cost up to 10% of an estate and it can sometimes take years to probate a will.
An estate planning attorney can help you with strategies to avoid it. They can also ensure your family won’t have to worry about dealing with that stress or spending a vast amount of money necessary to do it correctly.
#4 Protect Your Children
Guardianships are used when parents pass away and leave minor children behind. You can designate a guardian for your minor children in your will.
Completing an estate plan that avoids court and conflict for you and your family is simply the right thing to do. Plan now to protect your kids from life’s uncertainties – plan for your minor children.
#5 Planning Beyond the Will
Seniors frequently need help managing finances and health care decisions. An experienced attorney or elder law attorney can help your loved ones through these complicated matters. See how Ozarks Legacy Law can serve you or your parents with our elder law services.
#6 Choosing the Right Estate Investments
An experienced attorney can also advise you on how to make smart estate investments for your family and can make certain that the transaction goes smoothly, and that any moves work with your estate planning objectives.
#7 Get Tax Help
Taxes may be owed on estates worth more than five million dollars. This can make it difficult for heirs who don’t have access to this amount of money upfront. An estate planning attorney can help you avoid taxes, so your family doesn’t have to deal with this problem.
Next Steps in Your Estate Planning Process
Estate planning is a process that should be started as soon as possible. You’ll need an estate planning lawyer who is knowledgeable and experienced to help.
Ozarks Legacy Law estate planning attorneys have been helping people complete their estate plan for over 50 years combined. We’ll help you “Empower Your Family. Prepare For The Future. Protect Your Legacy.”