It’s hard to talk or even simply think about dying or suffering from an illness. But death is a certainty we must all accept and, as much as possible, be open to and ready for. Whether we like or not, each day, we’re heading one step closer to our grave. Instead of ignoring the possibility of illness and certainty of death, what you should do is to prepare and set everything in order. Nothing beats preparedness. And the best way to do this is hiring an estate planning attorney.
You might ask yourself this: Why should I need an attorney for estate planning? You’ll be surprised to know the answers. Aside from death, there are other reasons why you should need one. Below are the top five reasons why you should call an estate planning attorney.
Death in the Family
This is perhaps the most common and practical reason for calling an estate planning attorney. Your attorney will make it easier for you to handle the real estate or personal property of your deceased loved one. The attorney will determine the actions that need to be taken; such as distributing the personal property of the deceased or securing, cleaning out or selling his or her real estate property. Other matters such as the preparation and filing of the estate tax return, the appointment of a successor Trustee if the deceased has a trust and the transfer of assets through a probate proceeding can also be handled by your attorney. These are complicated matters that are best handled by an expert, a professional who really knows the right legal measures and actions to take.
Having a Serious Illness
Another important reason for you to call an estate planning attorney is when you are diagnosed with a chronic or terminal illness. Such illness may result to physical or mental incapacity or even death. If you have a serious illness, it is best and high time to have an attorney at your side. Plan ahead and make decisions while you still can. This might be difficult for you, but you have to make this a priority, not only for your sake, but for your family’s as well. Your attorney will help you on matters that have something to do with your estate plan documents, ownership of assets, beneficiary designations and health care documents. It is important that you sign documents like health care wishes and power of attorney.
If Your Child Has Issues and Difficulties
If your child has issues and difficulties, as a parent, it is likely that you are or will be affected. These difficulties can range from creditor problems, gambling, substance abuse and other issues. You need an estate planning attorney to protect your child’s asset as well as yours. Your attorney will make necessary changes to your own estate plan. For example, to protect the assets of your child, it is that you don’t distribute it outright to him or her but to secure it in trust. In other words, your attorney will give you sound advice for you to decide on what’s best for you and your family, particularly your child.
If You Are Engaged
If you are engaged to be married, one of the first things you must do is to contact an estate panning attorney. This is because you need to decide on whether you should have a prenuptial agreement before entering into marriage. To give you an idea, a prenuptial agreement fixes the couple’s assets for their proper division in case of death or divorce. This is the best way for you to protect your asset or your family member’s. If you are already married and you have a child who is engaged, this also applies to your child. Remember that having a lawyer draft and negotiate a prenuptial agreement is your best defense against losing your own and your family’s assets.
Other Minor But Important Reasons
There are life events that will require you to look into your estate plan and determine if changes are necessary. In times like this, you need your estate planning attorney with you to make sure that you come up with the best decisions possible. These life events can include birth of a child or even a grandchild, purchase of a residence, buying a new property and others. It is best to keep your estate plan updated. It is advisable that, once in a few years, even if there are no important changes in your life, you talk to your attorney and review your plan for possible updates.
Now that you know the importance of having an estate planning attorney, make sure that you call the right professional in the event that you need one. It is not enough that you have an attorney. Make sure that your attorney is an expert in the field, someone who really works for your best interest. If you are looking for that kind of attorney, the best place to go is Dana Law Group. Keep in mind nothing beats preparedness. So call an attorney and beat life at its own game.