You have a legal third party influence.
There is often a risk that arrangements or estate plans made without a legal backing or attorney could go into probate with the estate’s families or heirs disputing the specifics. An estate planning attorney, however, can step in and act as an influence of third parties, also the attorney can act as a custodian of the original copy of the estate plan preventing it from being revoked.
An estate planning attorney will act as the legal backing you need. Should there be any dispute or contest against your plans; be sure you have adequate answers through an attorney.
Proper understanding of the state laws on estate plans
New York state laws dictates document that can be included in an estate plan. These laws also control the formalities, the processes of signing and implementing an estate plan document. Typically, a wrong detail or inclusion supplied in estate plans would make it invalid and probably revoked. You need someone well informed and who knows all the state rules on estate planning.
An estate attorney will guide you through creating estate plan with proper formalities and protocol. With this, you stand at better chances of having your plan adequately executed. On the other hand, a do it yourself plan will leave you and your loved ones to chances of having your estate document, invalid or revoked.
The attorney will act as the estate’s executor.
An executor is always needed to implement estate plans. Having your estate planning attorney also act in the capacity of estate executor will prevent negative occurrences or issues when implementing your plans. The attorney can function in the capacity of an executor and even better. Since being involved in making the plans, ensuring that it is properly executed will be smooth. Some of the duties of the executor include; overseeing the distribution of assets to named beneficiaries, paying up estate taxes and debts owed to creditors, ensuring that all asset owned by the deceased is kept safe, notifying the court of any changes to estate plan.
An executor’s duty cannot be handled by just anyone but by someone who is proven to be able to handle such task. An estate attorney is a good fit.
Defend you interest should there be a Will contest.
Certain instances of rift among estate beneficiaries makes court implementation of a Will take longer than usual. While some of the named beneficiaries feel they have been left out other may feel that they estate document was signed or created under duress or the will maker was coerced to make such plans. These complaint lead to messy probate situations. You need an estate attorney to defend your interest and act as a probate attorney.
To ensure your estate plans are intact and safe.
The safest place to keep your estate document is with you estate attorney. The attorney can ensure the safety of the signed and created documents. It is better to have your estate plans secured, private until it is time for it to be implemented. So far you have the original copies of your documents with the attorney, recreating copies of it would easy when needed, and all vital signatures will still be intact.
For estate document like the living trust, the named trustee should be allow to keep the document or at least know where it is kept.
Note: when the original copies of any estate plan you made cannot be found upon your death, it is assumed that no estate plan was made. It is just assumed you died without a will. However, according the state laws in New York, you properties will be shared according to the intestate laws. Your closest relative would have your properties.
To help solve complex family situations
You need estate planning attorney if you have very complex family situations. It would be out of place to just jump into planning your estate without eliminating family issues that can affect the validity and implementation of such plan.
Consider the following situations; you just divorced or are in the second or third marriage, you have a minor or older relative that is disabled, you have wayward kids or you want to leave some of your estate properties to charity, you have business in several names, you have estate in different states, you have a deceased spouse or relative, you have estate that are subject to both federal and state taxes. If you belong to anyone of these mentioned cases, you need to plan your estate with an estate planning attorney.
Note: estate planning without pitting into consideration complex family situation would end up in probate. A very long and exhausting probate process for your family or beneficiary. Seek the counsel of an estate planning attorney near you today.