How much do you know about estate planning? Have you already written your will? If you happen to die without a will, your real estate and personal possessions may go to the wrong people. Experienced wills and estate lawyer can help to ensure that your final wishes are carried out.
What do wills and estate lawyer's do?
An estate attorney is a bar-certified lawyer who assists clients with the drafting and implementation of wills, trusts, and other legal documents. Closely akin to family lawyers, estate lawyers work with individuals and relatives that are connected to the estate. A wills and estate lawyer organizes the transfer of assets from a decedent to their beneficiaries and heirs.
A wills and estate attorney may also devise ways to mitigate fees and taxes that are typically imposed on an estate. For this reason, most estate lawyers are well versed in tax law. Estate lawyers may be called on to establish restrictions on an estate to make sure the last wishes of the decedent are obeyed. Estate attorneys may help to manage other business and personal matters, including retirement plans, charitable contributions, and life insurance policies. Your wills and estate lawyer can help you appoint joint tenancy on real estate properties and devise other title strategies that may help your loved ones avoid a daunting probate process.
An estate and wills lawyer can draft living trusts, powers of attorney and health care directives that may come into play if you become unable to manage your affairs. A wills and estate lawyer can work to ensure that your assets and life savings are protected from your beneficiaries' creditors after you die.
The court-supervised process of ensuring the authenticity of a last will is known in legal circles as probate. The process may include the location of assets as well as determining their value. Probate typically involves the payment of a decedent's final taxes and bills as well as the distribution of remaining assets to rightful beneficiaries and heirs. If a family member disputes a will, a wills and estate lawyer may be able to help the family avoid a long, drawn-out court battle. Probate court is rarely a good thing, and it can dwindle a decedent's assets down to practically nothing in no time flat.
Periodic review of your estate plans
Once your lawyer and you have put your estate plan in place, it may not remain a static thing. A number of occurrences such as marriage, divorce or the birth of children or grandchildren may affect your estate plan. Laws can change. All things considered, the best way to make certain that your will is always up to date is to meet to have periodic review meetings with your wills and estate lawyer.
Lisa Denham Law Office has the skills and experience to draft, modify and update your wills, trust funds and other aspects of estate planning. Located a mere eight minutes from Kamloops, Lisa Denham Law Office manages estate issues that range from simple wills to complicated probate situations.