It’s a common mistake. People get so caught up with work, life, and family that they fail to stop and think about estate planning. This can be an oversight that can have some pretty drastic side effects if something happens to the estate owner prior to them being able to correct the situation. Anyone that has assets with value owes it to both themselves and their family to make an appointment with an estate planning lawyer and start dealing with the situation as soon as they possibly can. Once the initial process has been taken care off, staying up to date will be a relatively simple process.
An estate planning lawyer does more than simply make arrangements to deal with a person’s real estate if they should become incapacitated or if they pass away. In addition to the property their client owns, the estate planning lawyer will also handle large assets and the money they have tucked away in savings accounts, bonds, and the money market. In addition to handling issues regarding the distribution of their client’s assets after the client has passed on, the estate planning lawyer also makes sure that all of the client’s final wishes are granted.
While the main concern that the estate planning lawyer will have pertains to fulfilling the client’s final wishes, the attorney will also make things a bit easier for the benefactors. The taxes that sometimes get tacked onto an inheritance can be staggering, sometimes it’s more than the benefactors can handle, in which case the inheritance becomes a hindrance. The estate planning lawyer will look at the inheritance and explore the various ways that the taxes can be reduced.
The most important thing that the estate planning lawyer does is help their client create a will. While this might technically be something that a person can do on their own without the help of an attorney, it’s something that one should always get professional help.
The first thing that the estate planning lawyer does will be to make sure that the final testament will stand up in court if any of the descendants protest it.
Secondly, the estate planning lawyer will look at their client’s assets to make sure that everything is included in the will.
The third way that the estate planning lawyer will help make sure their client’s final wishes get granted will be by keeping track of all the paperwork. In addition to keeping the will in a very safe place, they will also make sure that all of the beneficiaries have been informed about their inheritance.
Jaspan Schlesinger LLP was originally established in 1946 and has estate planning lawyers devoted to making sure that all of their client’s last wishes get fulfilled.
