2 Reasons To Hire A Lawyer During Estate Planning Document Preparation
Estate planning document preparation is a complicated process that requires the expertise of estate lawyers. Some estate planning documents, such as wills and trusts, may be handled without a lawyer, but others like estate property agreements and special needs trusts require legal assistance to ensure their validity and enforceability. In this context, you can't just wing it when it comes to estate planning, or you may end up leaving your loved ones with a mess. Consider hiring an estate planning document preparer.
What is Estate Planning Document Preparation Essential?
Estate planning is an essential process of determining your estate wishes. Estate planning documents are a set of estate planning papers that allow a person to specify how they want their estate assets distributed when they die.
Preparing these documents in advance is important because if the estate had no such estate plan, state law would govern who gets the deceased's estate. If you do not like what the state provides through its intestate succession laws, then it's advisable to hire an estate planning document preparer to help you prepare these vital documents.
Here are two main reasons why you need an attorney to help you prepare estate planning documents:
1. To Avoid Probate
If you die without estate planning documents, your assets may have to go through probate court for them to pass on to beneficiaries. Probate is a time-consuming process whereby the property will be identified, listed in public records, inventoried, and finally distributed. The process can take an average of nine months before the estate is settled.
However, an estate planning document preparer can draft estate planning documents to avoid probate court altogether. Estate planning documents, especially wills and living trusts, are legally binding documents that allow an estate owner to choose which beneficiaries or heirs receive estate items upon death. They also provide estate owners with the opportunity to appoint guardians for any minor children in their estate.
2. To Ensure a Quick and Hassle-Free Estate Distribution
Estate planning documents ensure a hassle-free estate distribution by designating exactly who inherits how much of the estate. Without them, estate items can be divided up in any manner the estate administrator sees fit.
However, estate planning document preparation ensures that lawyers include specific estate planning stipulations regarding estate items. Say, for example, a father wants a specific piece of property to go to his son, an estate attorney ensures the property goes specifically to the son and no one else.
Thus, with these estate planning documents in place, estate owners can rest easy knowing their estate will go exactly where they want it to following their death.
Estate planning documentation is an essential part of ensuring your family's future. But you can't handle it all yourself, and if you try to take care of these documents on your own, the consequences could be dire. You need help from a person who knows what they're doing.