Reasons You Need an Attorney to Complete Your Wills and Trusts
June 15, 2017
Protecting your financial future often begins with visiting an attorney for wills and trusts. After working hard to build a life for yourself, it can be difficult to think about the future and what can happen if you were to suddenly get ill or die in an accident. Even those who live a long, healthy and prosperous life will eventually pass away. It is a simple reality of life, but one that people can prepare for.
Prepare for the future
Failing to plan for what may happen in the event of a death is simply setting the family up for more stress and pain than is necessary. After an individual passes, it is the family who will have to pick up the pieces and sort through whatever situation is left. If everything is organized and already being handled by an attorney, it will be easier for the family.
With an attorney, it will be easier for the family members to handle the financial and legal aspects of a loved one’s death while still suffering from the pain of loss.
Reasons to have an attorney handle wills and trusts
There are numerous reasons to work with an attorney to plan for the future. It is important to note that there are legal aspects involved with transferring assets. It is not something as simple as having a family member take over a house, or walk into the bank to have their name added to the checking and retirement accounts. It simply does not work this way.
As such, it is critical to work with an attorney who understands the legal process and what documents need to be in place for the proper transfer of assets in the future.
An attorney can:
#1. Organize everything
By creating a formal document that lists out all assets, where they are located, the account numbers and who they should be transferred to, it becomes easier for an executor to distribute assets in the future. This also prevents family members from being unsure of what assets are out there and how to find them.
#2. Contact heirs
Upon a client’s death, an attorney can contact all heirs and arrange for a reading of the will.
#3. Probate will be reduced
If a trust is created, assets can be moved into it. This is highly beneficial because a trust is a separate entity. It can own property and assets which mean that when a person dies, anything in the trust does not go through the probate process. It can simply be divided, sold or continued to be managed with heirs as the beneficiary of the trust.
Schedule a consultation
Learn more about protecting your assets by calling my office to discuss wills and trusts today. I recommend doing so as soon as possible because there are no guarantees in life. There is no way to tell when an illness could be diagnosed or when an accident will occur. This makes it necessary to prepare and plan for the worst and do so while there is no obvious risk in sight.
Note: This is for information purposes only and does not constitute legal advice.