Devising a plan as for how assets should be distributed in the event of a death is something that most people have given thought to, but not everybody has carried out. There are common misconceptions regarding this important aspect of preparing for the inevitable, and among them is the idea that most people do not have enough assets or property to constitute an entire estate.
This doesn't have to include lavish homes, large sums of money or ownership rights to profitable business ventures. Anything of value must be considered, whether it's land, antiques, jewelry or rare collections. To hire an estate planning attorney, you can also check out www.voyantlegal.com/ogden-estate-planning-attorney.html website.
For those who wish to pass their cherished possessions onto their loved ones, hiring estate planning lawyers to devise a living trust or will be the best way to ensure that final wishes are carried out. Estate attorneys devise plans that are used to properly acquire, protect and allocate physical and liquid assets that are to be inherited, per the request of the testator.
Why Do Estate Attorneys Draft Wills And Trusts?
When it comes to planning, attorneys can guide clients through the legal process of drafting documents that state which beneficiaries will inherit specific possessions, and how much each beneficiary is entitled to. There are two methods that estate planning lawyers use to protect their clients, their assets and their loved ones: living trusts and wills.
Trusts and Wills are drafted by an attorney that specializes in elder law, where they take the instructions specified by their client and create a legally binding document that ensures that their assets are divided in ways that they consider fair and just.