Do you have an estate? As an estate owner, you need to undertake estate planning. In essence, estate planning involves making decisions on what will happen to your property in the event of death or incapacitation. Given that estate planning involves legal processes, it is crucial to retain the services of an estate attorney. So, who are estate planning lawyers, and what services do they provide?
What is an Estate Planning Lawyer?
An estate planning lawyer is an attorney who specializes in estate law. The lawyers are also known as estate law attorneys or probate attorneys. These lawyers support clients to make and execute estate plans in case of death or incapacitation.
Services of an Estate Planning Lawyer
Developing The Will
While most people understand the importance of writing a will, few individuals know how to prepare the document. Broadly, an estate planning lawyer is an expert in preparing a will document and understands all the necessary clauses and wordings. Then, the lawyer ensures that the will highlights all your assets and outlines property division rules. Again, the attorney helps you to identify beneficiaries and allocate assets. In this way, the lawyer's services reduce the chances of a contested will.
Managing the Probate Process
In legal terms, probate involves transferring a deceased person's estate to beneficiaries. Ideally, the executor takes the will to court to get authority to administer the estate. The estate planning lawyer can help you avoid the probate process. For example, they could put some of your assets under joint ownership. During probate, the lawyer will inform the executor about their responsibilities and powers.
Health Care Directives
What happens to your estate when you are mentally incapacitated? Legally, you would not have the authority to enter into contracts, which can affect your estate. In this case, a power of attorney reassigns the authority to sign documents in your name to a trusted person. Likewise, the lawyer will help you make arrangements for someone you trust to executive your health care directives.
Notably, an estate planning lawyer helps you to arrange for guardianship in the event of your death. You can appoint a guardian to look after your kids. Conservatorship orders also assign someone the responsibility to manage finances for your kids until they became adults. In this way, you can protect your children's interests upon your demise.
Having an estate plan reduces the ambiguity and conflicts over your property upon death or incapacitation. Hire an experienced and specialized estate planning lawyer to manage your will, guardianship, probate, and health directives.
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