3 Tips for Handling Your Estate Planning Needs
Having a will and other estate planning measures in place will protect your family for future generations. This is a matter of law that will take the assistance of an attorney to ensure it is handled correctly. Younger generations are becoming more aware of this, as there has been a 63% increase in the creation of wills among young adults in the United States today. Keep reading to learn more about working with an estate planning lawyer that can assist you with any measure of business that you're looking into.
#1: Speak to an estate planning lawyer to go through all of the important details
If you're going to put together a will, you'll need the help of an estate planning attorney that is bar certified and skilled at helping people throughout this process. The sooner you put together the details, the easier it'll be to protect your wealth.
These professionals charge roughly $250 per hour and up when putting together a last will and trust, and other measures. If you have other forms of litigation, such as an estate lawsuit or settlement, these professionals are likely to charge you a contingency fee. This means that they'll accept a percentage of your payment once the situation is resolved.
#2: Begin putting together a will and trust
The last will and trust is the most integral piece of the puzzle with your estate planning. Managing this matter will prevent you from being overburdened by estate taxes and will help you to make sure every asset goes into the hands of the people that you designate. Consider your liquid assets, real estate, heirlooms, stocks and bonds, and other financial interests. Your will and trust will also help you to pinpoint decisions related to do not resuscitate orders and other medical matters.
#3: Understand the estate process and name someone to act as executor
Finally, make sure that you designate an executor that can carry out your will and trust. This could be your lawyer, or you can name a family member that will work in conjunction with your attorney. Learn the estate laws in your state so that you understand how probate is handled and how long your family will have to produce your will for the wheels to go into motion.
It all starts with hiring the right professional. Contact estate planning lawyers to learn more or begin this process soon.