Few people take the time to plan the future of their loved ones after they themselves have left the world. While most individuals express the desire to be the one that decides on the distribution of their estate among their dependents, few take the initiative to put together a legal will. Engaging an estate planning attorney Washington DC can make this difficult planning process much smoother, while avoiding problems in the future.
A single individual with no assets or dependents may not feel the need to put together a will. However, if you have a spouse or children, it is important to ensure that the future of your loved ones is decided upon by yourself rather than strangers. Not leaving a will upon your demise can mean a long legal process and exorbitant estate taxes for your dependents.
Leaving a will is not just important for the management of material assets. It can also dictate other things such as your wishes for the care of your remains, or who will be responsible for the care of any dependents that are under the age of majority. You can also determine which individual will be in charge of executing your will.
Being a legal document, a will needs to be more than just a piece of paper bearing your signature. Self-written wills are frequently invalidated due to their failure to meet the necessary legal requirements. An estate planning attorney can help you avoid this, as well as other problems such as loop holes which can result in inheritance disputes in the future.
If you are considering setting up a trust as part of your estate plan, an attorney can help you in this process as well. A trust is a legal structure that lets you set conditions on how or when certain assets will be made available to your heirs. Trusts can help reduce estate taxes, shorten the duration of the legal process of inheritance, and help protect the trust assets from creditors.
Along with a will, you should also consider drawing up a document of power of attorney. Should you become mentally incapacitated, the power of attorney document allows a person of your choice to make legal, financial or health care-related decisions on your behalf. A lawyer can help you put together a legally valid power of attorney document.
In the case of inheritance disputes, the legal practitioner can be called upon to settle the matter. As a legal professional who has been present with you during your will writing process, he will be in the best position to resolve the dispute in favor of your wishes. The presence of such a professional will also help reduce the stress and agitation on your heirs part during this highly emotional time.
Overall, an estate planning attorney can help you plan out the future of your assets and your dependents. He can also ensure that all necessary documentation is meeting all legal requirements. Consulting a professional can take the stress and the guesswork out of your estate plan.
A single individual with no assets or dependents may not feel the need to put together a will. However, if you have a spouse or children, it is important to ensure that the future of your loved ones is decided upon by yourself rather than strangers. Not leaving a will upon your demise can mean a long legal process and exorbitant estate taxes for your dependents.
Leaving a will is not just important for the management of material assets. It can also dictate other things such as your wishes for the care of your remains, or who will be responsible for the care of any dependents that are under the age of majority. You can also determine which individual will be in charge of executing your will.
Being a legal document, a will needs to be more than just a piece of paper bearing your signature. Self-written wills are frequently invalidated due to their failure to meet the necessary legal requirements. An estate planning attorney can help you avoid this, as well as other problems such as loop holes which can result in inheritance disputes in the future.
If you are considering setting up a trust as part of your estate plan, an attorney can help you in this process as well. A trust is a legal structure that lets you set conditions on how or when certain assets will be made available to your heirs. Trusts can help reduce estate taxes, shorten the duration of the legal process of inheritance, and help protect the trust assets from creditors.
Along with a will, you should also consider drawing up a document of power of attorney. Should you become mentally incapacitated, the power of attorney document allows a person of your choice to make legal, financial or health care-related decisions on your behalf. A lawyer can help you put together a legally valid power of attorney document.
In the case of inheritance disputes, the legal practitioner can be called upon to settle the matter. As a legal professional who has been present with you during your will writing process, he will be in the best position to resolve the dispute in favor of your wishes. The presence of such a professional will also help reduce the stress and agitation on your heirs part during this highly emotional time.
Overall, an estate planning attorney can help you plan out the future of your assets and your dependents. He can also ensure that all necessary documentation is meeting all legal requirements. Consulting a professional can take the stress and the guesswork out of your estate plan.
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