This Article Written for Willhoite Law, PLLC
Many people are neglecting to make plans for their property and assets in the event of their death, Due to unemployment and the downturn in the economy. Young people especially are so focused on trying to stay afloat today that they are not considering what will happen in the future. It is important for young adults to create wills and powers of attorney in the event of death or severe injury. Many adults die prematurely due to injury and disease so it is necessary to make plans before it is too late.
It is never too early to begin estate planning, and young adults especially need to start planning their estate. Even if you do not have a great deal of wealth, property or family, it is still a good idea to designate what will happen to your assets in the case of your death. Drafting a will is one of the easiest ways to begin estate planning.
It is vital that you create a will properly with a probate lawyer. In this manner your assets will be passed along to the beneficiaries you choose. It can be quite a daunting task to start drafting your will. Perhaps you are older and it is now necessary to draw one up should anything happening in the near future. You might be a young person making sure to provide for your growing family in the event of an accident. Each way, a will should be something to consider having, especially if you are involved in a marriage or if you have a family.
Many people often neglect to make arrangements for their estate and finances in the event of their death. Failure to draft a will can cause a great deal of complexity when it comes to handling the deceased’s affairs and could consequence in the estate becoming “tied up” in legal proceedings for several years. A probate lawyer at Willhoite law PLLC specializes in the probate area of law and understands the limitations and legal proceedings that probate requires.
Probate occurs when an individual estate has no will or set of legal instructions to direct the disposition of one’s affairs. Knowing how assets are going to be divided, debtors have taken care of, property disposed of, charitable bequeaths are all handled by the probate court. Probate is of chief concern for the heirs and beneficiaries of individuals whose loved one dies without a will. Dying without a Will, known as dying intestate leaves it up to the probate court to decide what happens to the person’s estate. An individual leaves an estate, whether there is money or assets or anything else that is real upon death.
When someone wants to write a will, it is advised they choose a probate lawyer that they trust and their cases are heard in the local courts. The client is advised to choose a lawyer who knows them well and this makes it easier for them to present the case before the court. The lawyer has the full right to store a copy of the will and that means whenever the owner needs to change it, the lawyer has to be consulted and make the necessary changes. When the will’s owner dies, it is the duty of the lawyer to read the will before the family and named individuals. They are entrusted with the full responsibility to ensure that all that has been written in the will is fulfilled and if there are disputes regarding the matter, they take the chance to make the proper arrangements before the court of law for the court hearings to commence.
The reason it is important to draft a will is that in the event of your death if a will is not drawn up your assets will be broken up by a probate court. Your assets may not go to the person or people you want it to go to or the assets will be tied up in negotiations for years and your partner or family may struggle in the interim. By clearly setting out how you would like your assets to be divided and passed on, you can be assured that in the event of your death, it will go to whom you’ve decided. The lawyer at Willhoite Law, PLLC knows the system for distributing a decedent’s affairs and resolving the competing concerns of the heirs. To start, you’ll need to hire a probate lawyer.
When you choose a probate lawyer, they have full knowledge of trust, estate, and probate law to support you properly draft a will so that there are no discrepancies for your beneficiaries to dispute over. It is important to have personal communication which will help you to establish a friendly relationship with your chosen lawyer. This will also help the lawyer to find out whether you can work with them. They assist you properly manage all aspects of estate planning from the will draft to setting it in motion in the event of your death. They will make sure that there is no tax to be paid on the amount you award to each of your beneficiaries. They can also guarantee that your wishes will be carried out promptly.
One of the duties of the probate lawyer is to ensure that the will is produced in court and followed to the later as per the requirements of the deceased. Most of the time, many people die without writing wills and this means that there has to be a lawyer present to assists in the division of the inheritance. Even though most of the cases do end up in court battles, most of the lawyers have the ability to settle the matter out of court when both parties reach an agreement.
Settling matters in a probate court can take anything from months to years. This is usually due to the amount of time it can take for heirs or beneficiaries to step forward, in the event that none can be easily located. Not only will a probate attorney try to resolve the matter as fairly as possible, but they will resolve to get the process over as quickly and efficiently as they are able to. Probate can be overwhelming, so it will be such a huge relief to have someone competent takes over for a while.