Tag: Estate lawyers

What You Need To Have Together Before You See Your Estate Planning Attorney

An important question to ask before you see an estate planning attorney to create a will or living trust and all of your other planning documents are what to bring. It is important to consider for all of your assets or everything you own before you make an appointment to see your estate planning attorney. 

You must do a little bit of work to make yourself and do your homework before you will be properly prepared for your first meeting with an attorney. Your estate planning attorney can simply make an estate plan based on the data that you give them. 

If you give your estate planning attorney a deficient picture of your assets then you attorney may create an estate plan that is not in your best interest. You can also look for Alexandria Estate Planning Attorney Speedwell Law to get more info about estate planning.

If your estate is joining on being a taxable estate or over the excludable amount then you will need a different estate plan than if you were not. An extra life insurance policy that you have ignored about or old stocks that have grown in value can simply push an estate from being non-taxable to taxable. 

All assets over the excludable amount are taxed at a high rate and you can pass more of your assets to your potential beneficiaries by planning ahead. It is also a great idea to identify all of your assets so they can be passed to potential beneficiaries. 

If a private asset is discovered too late and probate has now closed an estate then a supplemental probate process may have to be opened to pass that asset. This can be an extra headache that you can save potential beneficiaries be planning ahead. You can also visit speedwelllaw.com/ to get more details about estate planning.

It is easy to just not think about your financial position and just hope everything works out in the end, but this is not fair to your loved ones who will have to live the consequences of incorrect planning.

When Do I Need an Estate Attorney?

There are many situations when someone would need an estate attorney to disperse personal belongings and money's after death. Choosing a trustworthy and reliable estate attorney should revolve around the lawyer's experience and knowledge of different state laws and regulations.

Well to begin, the most obvious answer to this question is when a person knows they have a terminal illness. In cases when a terminal illness is identified a person is assured that they will pass away in the foreseeable future. When this occurrence happens, hire a lawyer to make sure that an estate is managed according to a will. If you want more knowledge about estate planning you can also visit Estate attorney in Alexandria.

Another situation that will require an attorney is when a family is not close knit and squabble over inheritance. This is a cold and unfortunate situation for the deceased but happens with much frequency. One way to avoid a family member stealing items that were supposed to be left to others is by hiring an estate attorney to manage the disbursement of these items.

Also, another avenue that will require a person to obtain an attorney of this kind is if they have no family at all. When people do not have family or close friends, there may not be an executor for a will. The executor is responsible for seeing that a person's will is followed. In cases where there is no executor, an estate attorney can be substituted.