Plans – Getting Started & Next Steps
It is a common practice among many, to ignore the relevance of estate planning in their lives. This has resulted to many people failing to consider planning of their estate till it becomes too late to do so. Maybe before saying much about estate planning, we should first ask ourselves what it is. Estate planning covers an array of fields such as the writing of wills, planning for business, succession, advancing medical instructions, reducing tax, appointing trustees, establishing trusts and instituting the powers of the attorney. It is a plan for which you can engage to transfer your assets to intended beneficiaries in the event of death.
The assets that are to be transferred include car, homes, jewelry, real estate, and all other inexpensive property.Other inexpensive assets that are transferred to the loved ones include books, money, houses, and all personal possession that one wishes to transfer. It is therefore inappropriate to ignore the need for estate planning based on the notion that only the rich are entitled to it.No one should convince you that only the wealthy are entitled to assets planning.
For you to avoid expensive litigation and legal problems, then you have to hire a professional estate planning lawyer. An estate planning attorney will guide you on all legal aspects of asset transfer. The services offered by the lawyers are complex and aimed at reducing the inconveniences that may limit the intended heirs from receiving the transferred assets.
The estate planning lawyer that you intend to hire should be trustworthy to ensure that your assets are smoothly transferred to your loved ones. The lawyer whom you seek services from will help you create a solid strategy that incorporates all your requirements. Do not be afraid of interviewing prospective estate planning lawyers. Moreover, clients who have previously interacted with a certain lawyer will recommend to you the best lawyer whom you can engage.
Writing a will and creating an estate plan involves complex legal issues that require you to hire the services of a probate lawyer. However, the legal issues relating to estate planning differ from province to province. There are different laws in each province so that you will need to look for a lawyer who specializes in wills and estates of your area and knows the local, provincial, and federal laws. If you are in Colombia, for instance, there are several Real Estate Attorneys, Columbia Trust Attorneys, and Probation Litigation attorneys among others.
Estate Planning often starts by listing of all your assets and are followed by a list of debts and liabilities. You also need to have a main objective for instance, whether you intend to give away your assets to charity or you wish to transfer to specific individuals. In addition, there is need for you to identify and communicate to your lawyer your conditions and the events you would like to avoid in the aim of preventing squabbles in the family.