Do you need legal advice for estate planning?

Do you need legal advice for estate planning?

Estate planning is a daunting task, mainly because of the lack of awareness and the necessary information on estate planning. If you need legal advice on any of the tools discussed in this article, you may get in touch with one of our wills and probate lawyers.

Do you need an estate plan for your estate?

You may or may not need an estate plan, depending on the size of your estate and other factors. Learning more about estate taxes in your state of residence will help you evaluate whether or not an estate plan is right for you and your family.

Where does your estate go if you are single?

If you’re single and childless, that may mean your estate goes to your parents or your siblings. If you’re married, your assets may all go to your spouse, or be split between your spouse and children of another marriage. If you’re part of an unmarried couple, your estate goes to your biological family, not your partner.

Why is estate planning important for unmarried couples?

Estate planning is especially important for unmarried couples and blended families. State law awards assets to biological relatives if there is no will and an unmarried partner will be shut out. Blended families may want to split assets between current spouses and children of previous marriages, or they may not.

Do I need an attorney to prepare a real estate?

Except in states where it’s mandated, an ordinary real estate transaction doesn’t require an attorney’s help. By now, real estate transactions are so standardized that most people in your state will use the exact same purchase contract, just filling in a few blanks. However, legal issues might arise that your real estate agent can’t answer. In that case, you’ll need an attorney’s help.

Do I need estate planning?

While most families with assets or a family should execute a will, you may or may not need an estate plan, depending on the size of your estate and other factors. Learning more about estate taxes in your state of residence will help you evaluate whether or not an estate plan is right for you and your family.

Why is estate planning important?

Estate planning is important because having one in place acts as protection for your client’s beneficiaries. These beneficiaries might be minors, or adults (grown children or chosen friends or extended family members).

Is estate planning necessary?

One reason estate planning is necessary because our lives ultimately come to an end and there should be some order in how ownership passes to others. An estate plan lets you distribute your assets according to your own wishes.