An estate planning lawyer will help you to create a final will or establish a trust that protects inheritance assets in the unlikely event of your death. It is important to choose a probate legal attorney that listens to you and gives sound advice about developing strategies to benefit the designated beneficiaries. A colleague recently hired a probate lawyer to assist her in settling the estate of her terminally ill mother. estate planning lawyer san francisco Although her mother was not wealthy she owned a home and an auto, as well as financial portfolios that included life and death insurance policies.
Her mother’s credit association referred her for the estate attorney. There was considerable family turmoil within the family, and her mother wanted her to disinherit one her sons. The estate planner made a simple will. She also provided strategies to keep assets from going through probate. The nature of her illness meant that the woman’s child didn’t have enough time to consult several probate law offices. Instead, her daughter was forced to work alongside an asset protection attorney without any prior knowledge about her mother, family dynamics, and how she intended to distribute her inheritance assets. Due to budget cuts the credit union had to close their estate planning department. The daughter was not made aware of the fact and she only discovered she did not have a lawyer to handle probate after her mother died. The daughter who was appointed probate executor was thrown into chaos.
It was worse that the estate administrator lived in another part of the country. The estate administrator was located in another state, which forced her to search for a new probate attorney shortly before she returned home. The man didn’t seem to be interested in her mother’s assets and couldn’t offer advice on how to preserve her mother’s Will. She was well-versed with estate planning and had taken steps in order to secure asset protection. The Administrator was able not to go through probate as the remainder of her mother’s estate was small. She was able then to settle the estate within a few weeks. It’s clear that estate planning shouldn’t be left until a person is in grave danger. There are many potential problems when trusts and estates can be executed in the last few weeks of a person’s lifetime.
This is vital when executing an estate plan or dispersing assets among dysfunctional families. Bay Area Legal Service The final stages of life are when probate estate planning must be completed. Disinherited heirs can challenge the will by claiming that their decedent was not sound or under the influence. Estates can be suspended in probate for up to three years if they are contested. The estate could also be bankrupted. If you are healthy, it is a good idea to begin estate and trust planning. The estate planning probate lawyer will ensure your final wishes are followed when you pass away. This removes any stress from the designated probate representative.