Estate Planning Demystified
If you have had an opportunity to see probate process in court you know that they can be hectic and lengthy. More so if there is no clear will or plan for the property. It takes years at times, and when all is said and done the parties warring are not satisfied. If you have property it is advisable for you to get services in estate planning to assist you. Estate planning simply means laying down plans that will ensure that your estate is cared for or distributed to those you wish to have it, in the event you are incapacitated or pass away. An estate planning lawyer is an expert in the legalities surrounding estate planning. It is in your power, being an estate owner, to find the best estate plan to make sure that your beneficiaries are taken care off.
The most important thing to do is to have a will. A will refers to the document that says how an estate of an individual should be distributed when they die. A will is executed by an attorney who saw you write it and he is responsible for making sure nothing is overlooked in its execution. A will is capable of protecting your young children and spouse from those with malicious intent.
Having your assets in living trust is another way of estate planning. It ensures that the property in trust skips the court probate processes which are known to be exhausting. All that is required of you once you declare a trust then appoint an executioner for the trust who will ensure that the recipients get what is due them. If your are looking for someone to take care of your trust then a trust administration checklist is what you need. Living trust checklists are there to ease the process of a DIY living trust declaration.
A health care directive can really come in handy in the event you cannot make your medical decisions. The chosen person will then have the power of attorney where your health is involved. When you choose someone, look for one who has no malice and has your interests at heart.
You also, need to have someone manage your minor children’s inheritance until they become adults. You need to find someone trustworthy to do this because you would not want someone who will steal from your children when they are vulnerable.
Do not neglect to name the beneficiaries to the money in your accounts and your retirement fund. The money is automatically transferred to your beneficiaries on your death.
Many have found useful assistance from estate planning agencies like AmeriEstate. You can greatly benefit from their AmeriEstate Legal Plan which helps in planning your estate and protecting your assets.
You have no reason to struggle with you own estate planning now, when you can have it done for you.