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Essay On Estate Planning Attorney

532 Words3 Pages

An estate planning attorney is a vital factor in creating strategies to safeguard estate assets. Attorneys that specialize in this niche help people write a Will, establish trusts, power of attorney forms, and healthcare proxies. Employing an estate planning attorney is beneficial for people that want to avoid probate or minimize the amount of assets left in the estate. Probate is necessary in the U.S. to make certain estates are legally settled and heirs receive their rightful inheritance property. Probate can be a lengthy process that can make the estate vulnerable for having the last will and testament contested. Whenever relatives contest a Will the probate process can be prolonged for many months. Defending the estate can be costly and oftentimes forces estate agents to sell assets to cover legal expenses. …show more content…

A few of the most common methods include establishing assignment of beneficiaries for titled property, financial assets, and life insurance proceeds. The average amount of time to settle estates through probate court is 4 to 6 months. The process is further prolonged any time a person dies without writing a Will. This kind of estate is referred to as 'intestate' and will require additional time to fulfill compliance requirements. Employing estate planning lawyers can be particularly beneficial when family members do not get along very well. It is an unfortunate truth that death can bring about family disputes over inheritance. It isn't uncommon for family members to argue over valuable property and family heirlooms. If heirs feel entitled to property that wasn't gifted to them in the Will they can file a lawsuit against the estate. As mentioned earlier, legal fees can become expensive. Not only do estate agents have to hire a defense attorney they might also end up paying Plaintiff attorney fees if the judge rules in their

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