For many people, thinking about how their families are going to handle things when they’re no longer living is something they would rather not do. While planning for what will happen after death may be scary, it’s vital that you realize that proper estate planning is one of the most important things that you can do to protect your loved ones. As you begin to think about what your list of final wishes might look like, you should know that hiring the right Estate Attorney in Libertyville will be key in making sure that things go as planned. If you think that simply writing out your preferred plan on paper or filling out the paperwork in a do-it-yourself planning kit will suffice, read on to discover why you may want to reconsider doing so.
1. Simply put, the way you handle your assets in your living will or trust matters. If not done right, your family may end up with huge tax penalties and legal fees to pay as they try to carry out your wishes after you’re gone. Instead of wasting time and money, it’s a good idea to work with an attorney who can help you understand the ins and outs of the law and show you how to arrange your will or trust so that there will be maximum benefit to your loved ones.
2. Many people rely on the help of a standard living will in order to give directions on how they want their assets distributed once they pass away. However, they do so without understanding that a will alone will not help you avoid probate. If you want to want assets to be transferred directly to those who you left it to, you need to work with an attorney who can help you create a trust so that there will be no dispute as to the distribution of your assets.
Estate planning is serious business, and how well you do it could be the determining factor that decided how well your family does in the future. Instead of going it alone, it’s better to have a qualified Estate Attorney in Libertyville on your side who can help you create a solid plan for your family’s care. Get in touch with the legal team at Charles T. Newland and Associates to find out how you can ensure that your loved ones can continue to carry on your legacy.
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