No one likes to think about death or incapacity, but the fact is that it’s something that we all have to face at some point. When a person passes away or becomes incapacitated, there are issues that follow regarding finances, probate, inheritance, and much more. If you don’t have an estate plan in place, then your loved ones will be left dealing with a lot of difficult and expensive legal issues. An estate planning attorney can help you create a plan that will ensure your wishes are carried out after you’re gone. They can also help you protect your finances and inheritance during your lifetime.
This blog post will hopefully help you better understand what an estate planning attorney is and how one can help you.
WHAT IS THE ROLE OF AN ESTATE PLANNING ATTORNEY?
Many people aren’t familiar with what an estate planning attorney is and what they do. Ultimately, an estate planning attorney can help you create a will, appoint a power of attorney, and create a living will which will ensure that your wishes are carried out after you die. They can also help you set up trusts and other legal arrangements which can save your loved one’s time and money.
Here’s more detail on how an estate planning attorney can help you:
Customize Wills
No one likes to think about their own death, but it’s important to have a will in place so that your loved ones don’t have to go through the hassle and expense of sorting everything out after you’re gone. Without a will, the courts will decide how your estate is divided up – which may not be what you would have wanted. This can cause a lot of stress and conflict for your loved ones at an already difficult time.
By hiring an experienced estate planning attorney to help you draft your will, you can ensure that your wishes are carried out exactly as you want them.
Designating Beneficiaries
Choosing who will inherit your estate can be a difficult process. You want to make sure that your loved ones are taken care of after you’re gone, but you also don’t want to leave them with a lot of extra work. Without an estate plan in place, the state will step in and make decisions about who gets your property and assets. This may not be what you would have chosen, and it can cause a lot of conflict among your loved ones.
Designating beneficiaries is an important part of estate planning. By working with an estate planning attorney, you can ensure that your wishes are carried out after you’re gone. You can also avoid costly court battles and disputes among your loved ones.
Establishing Power of Attorney
No one knows when an accident or illness might occur, and if something happens and you can’t make decisions for yourself, who will speak for you? If you’re like most people, you probably haven’t given much thought to what would happen if you couldn’t make your own medical or financial decisions.
Establishing a power of attorney is the best way to ensure that your wishes are carried out in the event that you can’t make decisions for yourself. Medical and Financial powers of attorney allow someone you trust to make decisions on your behalf.
Using Trusts to Avoid Probate
Again, no one likes to think about their own mortality, but if something happens to you, your loved ones will have to go through a lot of hassle and expense to wrap up your estate. If you don’t have an estate plan in place, your loved ones could wind up going through probate – a process that can take months or even years and cost thousands of dollars in legal fees.
A trust is a powerful tool that can help you avoid probate. With a well-drafted trust in place, your loved ones can easily distribute your assets according to your wishes without having to go through the time-consuming and expensive probate process.
WHEN SHOULD YOU HIRE AN ESTATE PLANNING ATTORNEY?
It’s never too early to create an estate plan. The best thing to do is hire an estate planning attorney as soon as you reach adulthood. The reality is that none of us know when our last day will be. Things happen all the time, and unless you have a legally binding estate plan in place, the choices moving forward will not be based on your own wishes but will be left to be decided by the courts.
No matter how old or young you are or what your current situation might be, you should contact an estate planning attorney as soon as you can. An estate planning attorney can help you create a will, living trust, power of attorney, and health care directive that reflects your wishes and guarantees that they will be carried out after you’re gone.
IN NEED OF AN ESTATE PLANNING ATTORNEY? CALL COLLIER LAW!
Estate planning can be a very complex process, and it’s easy to feel overwhelmed. Often, it’s hard to know where to start with estate planning, and even harder to know if you’re making the right decisions for yourself and your loved ones.
Collier Law is here to help. Our team of experienced professionals, located in Salem, OR, and with an office in Lake Oswego, OR, will guide you through every step of the estate planning process, from understanding your needs to drafting and executing a plan that works for you. We’ll help you make sure your estate is handled smoothly and efficiently in the event of your death or incapacity.
To learn how Collier Law can help with the complexities of wills, trusts, powers of attorney, and other advanced estate planning techniques, schedule your complimentary estate planning consultation with one of our experienced attorneys. Call now to make your appointment.