Estate Planning Attorney: Plans to Avoid Heritage Issues
A estate planning attorney can help people create a definitive will or confidence to protect inheritance assets in the event of death. It is important to choose a heritage lawyer who listens to your needs and gives you solid advice on developing strategies that will benefit the designated beneficiaries.
Recently, a colleague hired a real estate planning attorney to help her with her mother's estate with a terminal illness. Although her mother was not a rich woman, she owned a house, a car and had financial portfolios and life insurance policies.
The cargo lawyer was referred through his mother's credit union. There was an important family struggle within the family and his mother would inherit one of his children. The estate planner executed a simple will and provided strategies to prevent assets from passing through the property.
Due to the nature of the disease, the woman's daughter did not have time to consult several real estate law firms. Instead, she was forced to work with an asset protection lawyer who had no prior knowledge of her mother, family dynamics or how she intended to distribute inheritance assets.
The credit union closed its estate planning department due to budget cuts. The daughter was not notified of this and only discovered that she no longer had an inheritance lawyer after her mother's death. This created havoc for the daughter who was appointed as the successor.
To make matters worse, the property manager lived in another state. She was forced to find a new lawyer on inheritance disputes a few days before returning home. During his meeting, the man expressed no interest in his mother's estate and could not offer advice on how to protect his mother's will to be challenged by the unmarried son.
Fortunately, she was well versed in estate planning and had taken steps to obtain asset protection. When the rest of the estate was small, the administrator was able to avoid the inheritance and liquidate his mother's estate in a matter of months.
This shows that things can go very wrong when estate planning is postponed until a person has a terminal illness. Many unwanted problems can arise when making allowances and property during the last weeks of a person's life.
This is important when preparing a last will and the assets are distributed among dysfunctional families. When estate planning is carried out during the last stages of life, hereditary heirs may question the will claiming that the deceased was not my property or that he was influenced by the persuasion of another. When wills are disputed, the properties may be suspended in succession for months or years, which may be inherited.
Estate planning and trust planning must begin with good health. Hiring an inherited estate planning guarantees that your final wishes will be met when you die. It also removes stress from the designated realtor. For more information visit this website
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