If you have a will and an estate plan, you already have the two most essential elements of estate planning. However, you may feel uneasy about your estate plan when you don’t know who to call if things go wrong.
A trusts & estates attorney should be one of the experts you turn to for estate planning services. With these specialists on your side, you can rely on one more tool to ensure your estate plan runs as intended. Read on to learn why every person should have a trusts and estates attorney.
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The Importance of Having a Trust Attorney
One of the main reasons every person should have a trusted real estate attorney is to ensure that their final wishes are fulfilled as desired. While writing a will is essential to estate planning, it may not cover all aspects of your assets. For instance, a will only address the distribution of assets after death.
This is while a trust can be used to manage and protect assets during one’s lifetime and after they pass away. A trusts lawyer can assist individuals in avoiding probate court proceedings by setting up a revocable living trust. This type of trust allows the trustee to manage assets on behalf of beneficiaries after the grantor’s death.
This is without the need for a lengthy and often costly probate process. This can help save time and money for your loved ones. And ensure that your assets are distributed according to your wishes.
Protecting Your Assets
Another reason why having a trust attorney is crucial is to protect your assets from potential creditors and lawsuits. While no one wants to think about these scenarios, they can happen unexpectedly, leaving loved ones vulnerable to losing their inheritance. A trust attorney can help you set up a trust that shields your assets from such threats. Also, ensure that your beneficiaries receive their rightful share of your estate.
Tax Planning
Estate taxes can significantly reduce the value of an individual’s assets, leaving their loved ones with less than expected. However, a trust attorney can help you minimize the impact of estate taxes on your assets by creating various types of trusts, such as charitable and irrevocable trusts. These trusts can also provide tax advantages for beneficiaries in the long run.
Peace of Mind
Having a comprehensive estate plan can bring peace of mind to the individual and their loved ones. Knowing that your assets are protected and will be distributed according to your wishes can alleviate stress and uncertainty for everyone involved. A trust’s attorney can help you create a plan that meets your needs. And ensures that your final wishes are fulfilled.
Get the Best Trusts & Estates Attorney
In conclusion, every person should have a trusts & estates attorney. This is to ensure their assets and interests are protected for the future. With their expertise in legal matters related to wills, trusts, and inheritance, a trusts and estates attorney can provide valuable guidance and peace of mind.
Please don’t wait until it’s too late; contact a trusts and estates attorney today to start planning for your financial future. Your family and loved ones will thank you for it. If you want to read more articles, visit our blog.
