3 Key Responsibilities Of An Estate Planning Attorney

20 January 2022
 Categories: Law, Blog

Before you die, you should ensure all of your property is in order, and that your last wishes are written down. These wishes should have clear instructions and an elaborate plan for those who'll be handling your assets after your demise and make provisions for your children, spouse, and other loved ones. This task can be complicated if you handle it yourself. However, an estate planning attorney will use various legal tools to help you effectively manage and organize your assets. This article discusses three key responsibilities of these lawyers.

Educating You About the Will Creation and Implementation Process

Many laws surround the testament creation process. If they aren't followed, the court may not recognize your plan, which could cause your assets to be distributed according to state guidelines. You may also have to pay taxes on your estate's assets, which could be a significant expense.

Talk with an attorney if you're not sure what the probate process is and how it works. This process can be time-consuming because it requires extensive paperwork and legal counsel. Lawyers understand how this process works and what you must do to ensure your estate is distributed according to your wishes. They'll help you make an informed decision about whether you need a testament or trust.

Organizing Assets

The process of organizing your assets can be overwhelming if you don't know where to start. It requires an understanding of the different types of assets, their value, and how they'll impact your life and that of your loved ones. You also need to know the types of investments you need to achieve your goals and needs.

A lawyer can make this process easier. They'll organize your assets into an easy-to-read list that's easily accessible by those in charge of handling your affairs after your death. The list will include all your assets, their value, and how they will be used. These attorneys will also help you maintain your assets and protect them from being taken by creditors and others who might try to take advantage of you in any way.

Designating Heirs

The process of designating your heirs can be confusing and overwhelming if you don't know what to do. To avoid this, it's important to have a testament or trust in advance, detailing the individuals who will inherit your estate after you pass away. You should also make sure that these documents are up-to-date because they may change over time as circumstances, such as children marrying, divorcing, and having kids, may happen. An estate planning attorney can help you with these tasks and ensure your beneficiaries receive what they're entitled to.

Estate planning attorneys play a crucial role in helping their clients avoid the many pitfalls that can occur after a death. If you're struggling to make estate decisions, hire them, and they'll gladly help you. Contact an estate planning attorney near you to learn more.