How To Best Plan Your Estate
Court battles over control of the assets of a deceased person or one, who incapacitated, can be gruesome. It gets even worse when there is no clear instruction on how the estate in question should be distributed. It takes years at times, and when all is said and done the parties warring are not satisfied. If you have property it is advisable for you to get services in estate planning to assist you. Estate planning refers to the strategies that are laid down on how your assets will be managed or disposed in the event of your death or incapacitation. An estate planning lawyer is an expert in the legalities surrounding estate planning. As an owner of a property there are a few tips that can help you in estate planning to save you or your family the headache that comes from absence of an estate plan.
As an estate owner you should have a will. A will, clearly states what should be done to your property if you die or are not in a position to control it. You can write your will with the assistance of an estate planning lawyer who will follow up and make sure it is executed to the letter according to your desires. A will offers protection to your beneficiaries especially those who seek your estate maliciously.
A living trust can be used as a way of protecting your beneficiaries. A trust will make sure that the estate in trusts skips the process of probation by the court. This process requires a legal declaration of trust which can be a do it yourself living trust on your estate and the appointment of a lawyer to help you in making sure that your beneficiaries get the property that they need. There exists a trust administration checklist that can inform your choice of an administrator for your trust. Living trust checklists are there to ease the process of a DIY living trust declaration.
It is also important that you have someone who will make all the decisions pertaining to your health when you are incapacitated. When you do this, you give the said individual the power of attorney. When you choose someone, look for one who has no malice and has your interests at heart.
It also advisable to have an adult you trust to manage your minor children’s property until they are of age. You need to find someone trustworthy to do this because you would not want someone who will steal from your children when they are vulnerable.
Do not neglect to name the beneficiaries to the money in your accounts and your retirement fund. When you pass away; the money will go to them automatically.
You can get assistance from estate planning agencies the likes of AmeriEstate. When you get their estate planning services; there are provisions like the AmeriEstate Legal Plan which serves to protect the property you commit to them.
You have no reason to struggle with you own estate planning now, when you can have it done for you.