Perfect estate planning includes aspects like a will, the name of beneficiaries, the potential of a lawyer, insurance, advance medical directive, and trust.
The estate planning process can sometimes be emotional, stressful, and overwhelming. Therefore, it is best to hire someone who has an enormous knowledge of estate planning law and can help you in estate planning. An estate planning attorney will answer all the questions regarding the estate and help you to make sound decisions.
According to a study, only 32% of Americans have a will, 30% of Americans don’t know if their parents have a will, and 40% of Americans don’t know what is in their parents’ will. This statistic shows how much Americans are unaware of the estate.
In Texas, an estate planning attorney plays a crucial role in handling the estate planning process by putting the client’s wishes for incapacity and death into writing. He knows the correct documents and will present the options to ensure the wishes are correctly covered. Plus, the estate planning attorney has deep knowledge of federal and state laws that might influence how your estate is dispersed, inventoried, evaluated, and taxed up to your death and will thoroughly educate you about the probate process should it arise.
Here are the things that the estate planning lawyer does for the client.
1. Creates will and identifies the beneficiaries
Since one can find a will template on the internet, it may not fit your unique needs. So, it will be best to seek assistance from a knowledgeable estate planning attorney who can help you to make this process easier. This is the only way to ensure your will outlines everything you require.
Additionally, when allocating the assets to the beneficiaries, the estate planning lawyer can provide insights since the lawyer is a neutral third party and will truly listen to the needs and offer professional advice when needed.
2. Helps to avoid the long and costly probate process
Probate is the court process that involves transferring a deceased’s estate to the heirs and the beneficiaries entitled to the will. Going through the probate process is expensive and takes a long time. Plus, one willing to go to the court proceedings can obtain copies of the will or any legal documents associated with the property.
When you hire an estate law attorney, he helps to avoid probate completely by ensuring all of your assets are designated properly, and there is no wrong with the paperwork.
3. Enough knowledge of state and federal laws
Probate laws are constantly getting updated and changed if you are planning your state, you probably miss a new law that could adversely impact your estate plan. Therefore, it is best to contact a good estate planning attorney who is updated with the latest changes in the law. In this way, it will be easy to prepare your will or other paperwork according to the law, which won’t affect you in the future.
4. Ensures a reliable person carries out your health wishes
Most of the time, an estate planning attorney in Texas works excellently with their client to find a reliable person who can carry out their health wishes. Most people choose family members emotionally, but this responsibility can be carried out by a close friend instead. Decisions driven by emotion sometimes result badly, which is why people suffer a lot. In such a condition, the attorney can act as a third party or neutral person to guide you on who will be best to serve in this role.
5. Helps to protect the family and the legacy for the future
Perfect estate planning includes aspects like a will, the name of beneficiaries, the potential of a lawyer, insurance, advance medical directive, and trust. The plan will confirm that your beloved one won’t have to jump through the hoops upon your death. Therefore, it is best to follow the advice of a reputed estate planning attorney. He can guarantee that these legal documents have all the details.
These are a few things that an estate planning attorney can do for you. If you are on the way to preparing a Will for the future, then never shy away from hiring a reputed estate planning attorney.