2 Reasons to Hire an Estate Planning Lawyer
An estate planning lawyer is an invaluable resource when it comes to figuring out exactly what is going to happen to your loved ones and your assets after you pass away. Listed below are two important reasons to consider hiring an estate planning lawyer.
Ensuring That Minors are Care For
One of the biggest concerns that many people have is how their children or minors under their guardianship are going to be taken care of after they pass away. An estate planning lawyer can help you decide not only what type of person would be best suited to become the legal guardian for any children that you may have, but also how to ensure that your children are taken care of financially.
For example, an estate planning lawyer can set aside a trust that is designed to cover all of your children's living and education expenses until they graduate from school. This trust can either be managed by a trustee or the guardian of the children who can only access the money to cover those costs.
You can also set aside a trust that will assist your children once they become adults that will set aside money for their use once a requirement has been met. For example, if you want to ensure that your children get a college education, you can create a trust that will only release the money to the children once they have graduated with a college degree.
Resolving Disputes
Another reason to hire an attorney to handle your estate is because he or she can help to deal with any disputes that may arise among your heirs over any of your property. These disputes may occur if a member of your family is unhappy with what he or she inherited or feels that there are extenuating circumstances that entitle him or her to an increased inheritance.
In that situation, an attorney can not only enforce the exact letter of your will and your wishes, but he or she can also attempt to find a compromise between your heirs. For example, if one of your heirs is angry because you left a piece of real estate to someone else, your attorney maybe able to negotiate shared access to the property.
Speak to an estate planning lawyer, such as Donald B Linsky & Associate Pa, to ensure that your wishes are carried out after you pass away. An attorney can provide you with the peace of mind that comes from knowing that there is a plan in place to take care of your family once you are gone.
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