WHEN DO YOU NEED TO HIRE A WILLS, TRUSTS, OR ESTATES ATTORNEY?
Life is unpredictable and can change irreversibly in a split second. Whether healthy, ill, or facing old age, having your affairs in order is the best way to avoid family feuds and ensure that your estate is divided accordingly–especially if you have minors and you need your interests protected.
Everything pertaining to how your assets will be dispersed after your death is covered by an estate plan. It’s not enough just to write down your wishes; you should have them reviewed by an attorney to be certain they are legally binding.
When You Need to Get Legal Advice About Trusts and Estates
Trust are similar to wills, except that instead of distributing your money and possessions among your heirs, the trustee holds them until the trust beneficiary reaches a certain age. Once the beneficiary turns 18, they will receive their share of the trust or at the age designated therein by the trust.
When You Want to Make Sure Your Wills Are Up-To-Date
It’s not uncommon for people to forget to update their wills once they become parents or grandparents, or after a divorce. Regularly updating a will helps avoid costly mistakes and ensures that your wishes are followed.
When You Should Get Started on Your Estate Planning Process
You should start planning now for your future. Start by discussing your goals, values, and priorities with your family. Then, sit down with an experienced lawyer to review your current situation and create a comprehensive estate plan.
Briefly, Tell Me About Trusts
A trust is a legal document whereby a trustee holds money or property for the benefit of others. Trust are frequently established to prevent probate and safeguard the interests of beneficiaries. Revocable, irrevocable, spendthrift, charitable remainder, limited family partnerships, and exceptional purpose companies are just a few of the many types of trusts.
Conclusion
The time to look into hiring a lawyer to get your affairs in order and draft a will or trust is now. Aside from protecting your interests, getting your affairs in order keeps your loved ones from having to deal with the headache and hassle of trying to imagine what you would have wanted to be done in the event of your passing.
Contact our office at (305)661-7000 to get started on getting your affairs in order.
