An estate planning attorney is a vital factor in creating strategies to safeguard estate assets. Attorneys that specialize in this niche help people write a Will, establish trusts, power of attorney forms, and healthcare proxies.

Employing an estate planning attorney is beneficial for people that want to avoid probate or minimize the amount of assets left in the estate. Probate is necessary in the U.S. to make certain estates are legally settled and heirs receive their rightful inheritance property.

Probate can be a lengthy process that can make the estate vulnerable for having the last will and testament contested. Whenever relatives contest a Will the probate process can be prolonged for many months. Defending the estate can be costly and oftentimes forces estate agents to sell assets to cover legal expenses.

Estate planners can help people establish strategies that reduce risk of having heirs contest the Will. One of the more popular is transferring assets to a trust. However, this strategy is better suited when the estate value exceeds $100,000.

When a person\’s estate is valued below $100,000 they can still make use of estate planning methods to avoid probate. A few of the most common methods include establishing assignment of beneficiaries for titled property, financial assets, and life insurance proceeds.

The average amount of time to settle estates through probate court is 4 to 6 months. The process is further prolonged any time a person dies without writing a Will. This kind of estate is referred to as \’intestate\’ and will require additional time to fulfill compliance requirements.

Employing estate planning lawyers can be particularly beneficial when family members do not get along very well. It is an unfortunate truth that death can bring about family disputes over inheritance.

It isn\’t uncommon for family members to argue over valuable property and family heirlooms. If heirs feel entitled to property that wasn\’t gifted to them in the Will they can file a lawsuit against the estate.

As mentioned earlier, legal fees can become expensive. Not only do estate agents have to hire a defense attorney they might also end up paying Plaintiff attorney fees if the judge rules in their favor.

Contesting a Will rarely accomplishes anything good and usually results in broken relationships. If the estate is bankrupted from the lawsuit, the only people who walk away with inheritance cash are the lawyers.

If there is strong probability that heirs will file a lawsuit, it can be beneficial to include a \’no-contest\’ clause. Essentially, the clause declares that anyone who contests the Will relinquishes their rights to any inheritance property.

Another option for minimizing the risk of family disputes is to hire a probate attorney to settle the estate. While this isn\’t an ironclad measure for preventing law suits, it can minimize risks. Hiring a neutral party to manage the estate oftentimes lessens family angst and can expedite the probate process.

It is best to enter into estate planning while healthy. Writing a Will after receiving diagnosis of a terminal illness can leave the estate vulnerable for lawsuits. Heirs can file claim stating the decedent was influenced by another person or was not of sound mind when the document was created.

Many estate planning attorneys provide complimentary meet-and-greet sessions to talk about their services and fees. A good source for locating law firms is the American Bar Association website at abanet.org.

Hiring an estate planning attorney can lessen burdens and ensure inheritance property is safeguarded. Probate expert, Simon Volkov provides an exclusive probate and estate planning article library that offers ways to avoid probate and strategies to reduce inheritance and estate taxes at SimonVolkov.com.

Hiring an estate planning attorney can lessen burdens and ensure inheritance property is safeguarded. Probate expert, Simon Volkov provides an exclusive probate and estate planning article library that offers ways to avoid probate and strategies to reduce inheritance and estate taxes at http://SimonVolkov.com.

Author Bio: Hiring an estate planning attorney can lessen burdens and ensure inheritance property is safeguarded. Probate expert, Simon Volkov provides an exclusive probate and estate planning article library that offers ways to avoid probate and strategies to reduce inheritance and estate taxes at SimonVolkov.com.

Category: Finances
Keywords: estate planning attorney,probate,avoid probate,write a will,last will and testament,beneficiaries