Year: 2022

estate planning lawyer

Why Do You Need a Will?

A will is a legally binding document that dictates who inherits your estate and how an estate planning lawyer divides it. It is a legal contract that ensures your loved ones are acting per your wishes regarding your property in the event of death. Thus, a will is a critical element of estate planning. According to Caring.com, many people between 18 to 34 years are more likely to have a will compared to people ranging from 35 to 54 years in 2021 for the first time. The following explains why you need to have a will.

A Will Speeds Up the Probate Process

When you die without a will, it can cause problems for the family members you leave behind. Without a will, your state presumes that you want to leave everything to your closest living relative, which means your spouse. If there is no surviving spouse or children, everything goes to the parents. If there is no one in your immediate family, then the next generation of children inherit everything. This process can take several months, if not years, and requires court appearances and formal paperwork. With the help of an estate planning lawyer, a will takes care of this problem.

A Will Provides Trustworthy Record Keeping

The will becomes a legal document when you work with an estate planning lawyer to write it. That means that your loved ones inherit less if they cannot prove that you did leave them everything. The probate process can be time-consuming and complicated when finding paperwork, even if the lawyer does not have any reason to suspect anything is wrong. Having a will prevents a long search for documents and allows your loved one to follow your wishes without trouble.

A Will Protects Your Loved Ones

There are several possible outcomes of dying without a will. One possibility is that your estate could be divided into smaller parts for your family. This means that each person could receive less than what they would have if you had left them money in your will. Protecting them from getting less than they deserve is another reason you need a will.

There are many reasons why you need a will. Primarily, making a will gives you peace of mind legally. It helps you split up your assets and gives your loved ones inheritances once you are gone. The document ensures that your property goes to the people or organizations of your choice when you can no longer make those decisions. If you are embarking on writing your will, contact us today. We can provide you with estate planning lawyer services to help you with this.

estate planning services

5 Important Reasons Why You Need Estate Planning Services

If you have any assets, you want to have control over what happens to them when you die. This is why estate planning is so important. By working with a lawyer and creating a plan ahead of time, you can do as much as possible to make sure your wishes are carried out. In fact, LegalZoom states that 77% of American adults believe estate planning is important, no matter how much money you have. Here are five reasons why you need estate planning services.

Protect Your Loved Ones

If you have family relying on you for financial support, you want to be sure they’ll be safe when you’re gone. Estate planning allows you to put a legal plan into action to ensure this happens. Your lawyer can help you decide on the best option.

Avoid Extra Taxes

There’s a chance that some of your assets will be taken as taxes. However, there are ways to make sure that you don’t pay more than you have to. Estate planning services can help you figure out your tax responsibilities. This will allow your loved ones to keep more of your assets, giving them more security.

Reduce Infighting

While there’s always a chance that family members will disagree on what to do, having a will should reduce the amount of infighting that happens. If you have wealth, make sure that your wishes are clear and legally validated. This will give family members clear instructions on how your assets should be divided.

Avoid Probate Court

Probate is the legal process of carrying out a will. If there are any problems with this process, the courts might have to get involved. This is a stressful situation in an already upsetting time for your loved ones. Estate planning can help them avoid this.

Peace of Mind

Estate planning is also a good way to take care of yourself. Once everything is legally settled, you’ll have peace of mind knowing that your wishes will be carried out. From there, you can relax and live the rest of your life without worrying about it too much.

If you haven’t planned out what will happen to your assets when you die, you need to do so. Estate planning services can help you through the legal process and guide you toward the best decisions for you and your loved ones. So make sure you hire someone and start the process.