You may be wondering if you need an estate lawyer. Whether you have a large estate or a small one, you must get guidance when it comes to legally managing your estate. An estate lawyer is the best person to assist you with doing this. If you are wondering exactly what an estate lawyer can do for you, here's a look.
Draft a Will
An estate lawyer is the perfect person to draft a will for you. You want to make sure that all your assets are distributed according to your wishes when you pass on.
An estate lawyer will make sure that your will is drafted in the most beneficial manner for your inheritors. They will also make sure that your will is signed and executed correctly. This can help the executor of your will avoid long probate times which can cause a depletion in the assets of the estate.
Create a Living Trust
An important part of estate planning is creating a living trust for you. This trust will go into full effect once you pass on. However, while you are still alive a living trust has a lot of benefits. You can plan out your estate and ensure that all of your inheritors get what they need at the right time.
For example, you could set up your trust to give your children a certain amount of money when they reach a particular age. An estate lawyer can help you with this so that your assets are distributed exactly as you want and in the time that you want.
Create Medical Directives
You can plan out your medical care and appoint someone to handle your estate should you become incapacitated. As you get older, you may be unable to make important decisions about your medical care.
It's a good idea to make them while you are still in good health. It will ensure that your wishes are carried out should you have an illness that prevents you from taking care of your estate.
Depending on the nature of your illness, your care can cause conflicts among those closest to you. When your wishes have been formally laid out it is hard for anyone to argue with them. You can also delegate someone to have power of attorney over your medical care and your estate as well when you are unable to manage it.
Getting an estate lawyer to manage your estate is one of the best moves you can make to secure your assets. An estate lawyer will make sure that all your wishes are adhered to while you are living and at death.