Estate planning, creating wills and trusts, or talking about inheritance, in general, is something most people avoid. Talking about one’s death is not something we enjoy doing in particular. But no matter how much we wish to brush this topic aside, it is inevitable. We may not live forever, but with some planning and foresight, we can ensure that our families live comfortably after we are gone.
That is exactly what OC Estate & Elder Law Attorneys, an estate law firm in Florida, is trying to emphasize. The experienced lawyers for wills and trusts at OC Estate Law believe that estate planning is not a luxury reserved for the rich and famous alone. Everyone needs to write an estate plan and prepare a will/ trust to ensure that their assets fall into the right hands when they are gone.
But it is also important that you write your wills and trusts in consultation with an experienced lawyer. OC Estate & Elder Law Attorneys explains why.
Reasons to hire a lawyer for wills and trusts
Estate planning can be a complex task, says OC Estate & Elder Law Attorneys. You not only need to decide who inherits which of your assets. You also need to ensure that your decision does not lead to family conflicts. You may also want to leave some of your assets to someone outside of your family, such as a charity or a distant relative. An estate planning lawyer can help you understand the nuance involved and guide you in what you need to do.
Another important factor to consider when writing your will or trust, according to OC Estate & Elder Law Attorneys, is the tax burden that your inheritors may have to bear. Writing a will alone may result in heavy taxes for your children or spouse when your assets are finally handed over to them. In some cases, both writing a will and creating a trust may be necessary to minimize the taxes owed. An experienced lawyer for wills can give you much-needed insight on matters like these.
Ensuring the legal implications are clear
OC Estate & Elder Law Attorneys agree that the legal language is not for everyone to master. To make sure that everything in your will is legally binding and what you mean is unambiguous, guidance from a lawyer is essential. A lawyer for wills and trusts can ensure that there is no scope for misinterpretation or misunderstanding in your will/ trust.
Protecting your interests
There are some parts of your estate plan or will that may come into effect even before your passing. This usually happens if you fall ill and become incapable of handling your assets, physically or mentally. In such a case, the authority to handle your finances and make important decisions on your behalf.
OC Estate & Elder Law Attorneys says it is advisable to draft a Power of Attorney as well to ensure that the authority goes to the right person if you ever become incapacitated. A healthcare Power of Attorney gives a person the right to make important medical decisions for you and a financial POA gives them authority over your finances. An experienced lawyer can help in creating these documents when drafting your will and also guide you in choosing the right person for these responsibilities.
There are several other ways a lawyer of wills and trusts can help you, but these few should be reason enough for you to give it a thought.
About OC Estate & Elder Law Attorneys
OC Estate & Elder Law Attorneys is a law firm in Florida that specializes in estate planning, probate administration, elder law, and Medicaid planning, and other practice areas. They have been serving families and individuals to organize and protect their hard-earned assets with the right legal decisions.
For More Information :- http://ocestatelawyers.com/