Merits Of Having An Estate Planning Attorney Washington DC
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If you have never given thought to what will happen to your assets and your loved ones after your death, there is no time like the present. While this is a difficult subject for most of us to ponder, planning ahead can save your dependents considerable time and anxiety during this emotional time. An estate planning attorney Washington DC can help you today to put together your will as well as other necessary documentations.
A single individual with no assets or dependents may not feel the need to put together a will. However, if you have a spouse or children, it is important to ensure that the future of your loved ones is decided upon by yourself rather than strangers. Not leaving a will upon your demise can mean a long legal process and exorbitant estate taxes for your dependents.
Leaving a will is not just important for the management of material assets. It can also dictate other things such as your wishes for the care of your remains, or who will be responsible for the care of any dependents that are under the age of majority. You can also determine which individual will be in charge of executing your will.
Most people are under the impression that a handwritten sheet of paper with your signature is sufficient documentation as a will. Unfortunately, it is not such a simple matter. Self-written wills are prone to loopholes, failure to comply with necessary legalities, and resulting invalidation. A legal practitioner can aid you in putting together a will that will meet all necessary legal requirements, ensuring that your desires are fulfilled after your death.
An attorney can advise you on whether it is beneficial to have a trust set up as part of your estate plan. A trust involves setting aside part of the assets in a special legal structure. These assets are then made available to your heirs under certain conditions. In certain situations, trusts can simplify the legal process of inheritance and potentially help reduce taxes on your assets.
A legal practitioner can also help you put together a power of attorney document. If you are ever in a condition where you are incapable of making financial or legal decisions, the person designated by this document has the legal right to make such decisions on your behalf. Such an individual can also be designated to make health care decisions in a situation where you are unable to give consent.
Having a working relationship with an estate planning attorney can prove invaluable, should there ever be an inheritance dispute over your assets. Your attorney can then be called upon, and can help settle the dispute in the direction of your wishes as dictated by your will or any other supporting documents drawn up during your life. Thus you can ensure that your desires will be honored after your death regardless of potential disagreements.
An estate planning lawyer is a powerful ally during the process of planning for the future of your assets and loved ones. Like any legal procedure, writing a will can be an overwhelming task. Consulting a legal professional can make this task considerably more efficient and reliable.
A single individual with no assets or dependents may not feel the need to put together a will. However, if you have a spouse or children, it is important to ensure that the future of your loved ones is decided upon by yourself rather than strangers. Not leaving a will upon your demise can mean a long legal process and exorbitant estate taxes for your dependents.
Leaving a will is not just important for the management of material assets. It can also dictate other things such as your wishes for the care of your remains, or who will be responsible for the care of any dependents that are under the age of majority. You can also determine which individual will be in charge of executing your will.
Most people are under the impression that a handwritten sheet of paper with your signature is sufficient documentation as a will. Unfortunately, it is not such a simple matter. Self-written wills are prone to loopholes, failure to comply with necessary legalities, and resulting invalidation. A legal practitioner can aid you in putting together a will that will meet all necessary legal requirements, ensuring that your desires are fulfilled after your death.
An attorney can advise you on whether it is beneficial to have a trust set up as part of your estate plan. A trust involves setting aside part of the assets in a special legal structure. These assets are then made available to your heirs under certain conditions. In certain situations, trusts can simplify the legal process of inheritance and potentially help reduce taxes on your assets.
A legal practitioner can also help you put together a power of attorney document. If you are ever in a condition where you are incapable of making financial or legal decisions, the person designated by this document has the legal right to make such decisions on your behalf. Such an individual can also be designated to make health care decisions in a situation where you are unable to give consent.
Having a working relationship with an estate planning attorney can prove invaluable, should there ever be an inheritance dispute over your assets. Your attorney can then be called upon, and can help settle the dispute in the direction of your wishes as dictated by your will or any other supporting documents drawn up during your life. Thus you can ensure that your desires will be honored after your death regardless of potential disagreements.
An estate planning lawyer is a powerful ally during the process of planning for the future of your assets and loved ones. Like any legal procedure, writing a will can be an overwhelming task. Consulting a legal professional can make this task considerably more efficient and reliable.
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