It's essential to make a will before you die. This leaves your family catered for. If you're planning on making a will, here are some of the reasons for hiring a wills and estates lawyer.
Avoid Probate And Taxes
Many people rely on online templates to create wills and testaments. However, it's very easy to miss something and subject your estate to lengthy probate sessions. It's for this reason that you need to engage a wills and estate lawyer.
A lawyer can help you avoid probate in several ways, including the use of gifts, death beneficiaries, and joint property ownership. Another common way of avoiding probate is through trusts. Your lawyer will create a trust that meets all the legal requirements to avoid both probate and taxes and you'll write those trusts into your will.
Listing Down Properties To Dispose Of In Your Will
Not all your property can be included in your will. For example, if you're one of the owners of joint property, you can't include the entire property in your will. You might not also be able to dispose of your entire share of the property. The same case applies to disposing of the proceeds you've received in the form of a trust.
There's also the question of including insurance policies in a will. Some procedures need to be followed when disposing of the proceeds of an insurance policy. For all of these reasons, it's vital to hire a wills and estates lawyer. Your lawyer will advise you about which properties you can list in your will.
Appointment Of Executors
One of the important parts of creating a will is appointing an executor. An executor is responsible for carrying out your wishes with regards to the distribution of your wealth. They're involved in paying all your debts and allocating assets according to your wishes.
Your lawyer will help you pick the appropriate executor. Additionally, the executor's role involves a lot of legal paperwork. Therefore, your lawyer needs to work with the executor to fulfil your last wishes.
Hiring a wills and estates lawyer is the best way to safeguard your estate when you pass away. Apart from helping you create a will and appoint executors; your lawyer will play an integral role in ensuring your will is written per the latest probate codes. Your lawyer will also help you update your will and advise you on how to avoid people from contesting or challenging your will.Share