Estate planning is a major life planning process. It is the process of deciding how your estate is preserved, managed and allocated in the event of your incapacity or death. This is a process best carried out with the help of an estate planning attorney.
To make an estate plan that facilitates the transfer of your assets upon your death, you need the help of an estate planning attorney. An estate planning attorney can help you prepare a suitable estate plan that makes allocation less stressful, time and money consuming for your designated heirs in the event of incapacity or death.
If you have ever witnessed a probate you probably would not want that for your estate, as the tussle and stress it creates for your surviving heirs or individuals with stakes in your estate can be alarming. This process is known to be time and money consuming, all these and your will might not still be completely honored.
What is probate?
Probate is the court process of verifying and validating the authenticity of will after the estate owner who made passes away. Assets with no designated beneficiaries at the time of the owner’s death is also subject to this legal scrutiny.
If you need to win probate or avoid it all together, here is why you should hire an estate planning attorney, in this case a probate attorney. A probate attorney can help you in these two ways.
- Prepare you for probate and offer due representation: every last will and testament is subject the court order of probate therefore, if you need to fulfill a will you must be ready for this court case. Your probate attorney will prepare you by ensuring you have every document that validates your claims for proper presentation. They also stand as your legal representative in court processions.
- Help you prepare a living trust: if you are looking to avoid this long and resource consuming process of probate, a living trust offers this advantage and many more benefits. Your estate planning attorney will help you prepare this powerful legal document.
Is an estate attorney a lawyer?
An estate planning attorney is in fact a legal practitioner but one who has dedicated years of continued learning in the affairs of estate owner. They are attorneys that specialize in the systematic organization of an estate, the navigation of legal provisions to mitigate cost and complications using best strategies to guarantee the wishes of an estate owner in compliance with state and federal laws that govern the affairs of an estate.
Does it cost a lot to hire an estate planning attorney?
Well, for what it’s worth, estate planning attorneys’ charge may varies, some attorney may charge on hourly rates and some flat fees, which ever suits your financial appeal.
What roles does an estate planning attorney play in making an estate plan?
A professional attorney plays quite a lot of instrumental roles in preparing the right estate document for their client. A New York estate planning attorney will help you in the following ways;
Prepare wills and trust:
Wills and trusts are powerful estate planning documents that could work complimentarily or individually, although in recent times a trust is more advisable.
wills are easier to establish for asset distribution. However, every Brooklyn Will must go through probate, and the probate process is often lengthy and complicated. For that reason, most people look for a way to avoid it. Living trusts provides a way out, since assets they hold pass down to the beneficiaries outside probate. Notwithstanding, some assets are difficult to fund into a trust and may be more advisable to put them in your will. Whatever the case, your estate planning attorney will figure out what works best for you.
Create durable power of attorney:
The estate attorney is responsible this document that grants an individual the power to make financial decisions on your behalf if you become incapacitated and unable to make these decisions.
Resolve estate litigation:
During probate, conflict may ensue that warrant one party to file a lawsuit against the executor or another family member over property. This is known as estate litigation. Each party involved in the case must be duly represented by an attorney in court. To ensure your rights are protected and your wishes are honored, your estate attorney offers due and diligent representation.