Are you in the process of estate planning? If so, you may be wondering if you need to hire an estate lawyer. While it is possible to create a will without professional help, the legal experts at Marchese & Maynard in Manhasset, NY, know several reasons you may need to seek legal assistance. Here are some of the top reasons to hire an estate lawyer.
To Ensure That Your Will Is Valid
If you choose to create a will without professional help, there is a chance that it could be deemed invalid. An estate lawyer can ensure that your choice meets all of the requirements for validity in your state.
Marchese & Maynard say your lawyer will first ask questions to determine your assets and liabilities and who you would like to receive those assets. They will then draft the will according to your wishes and have you sign it in front of witnesses. In some cases, they may also notarize the document.
If you have a complex estate, it is vital to hire an estate lawyer to help you create a valid will. If your choice is invalid, your assets will be distributed according to the laws of intestate succession, which may not be how you would have wanted them to be distributed.
To Help You Avoid probate
If a person dies with assets in their individual name, a probate proceeding will be required in order for the Executor to collect and distribute the estate assets. Probate involves the Courts and it can be a long and expensive process.
An estate lawyer can help you create a trust, an entity that can hold your assets while you are alive and distribute them after you die. Trusts can be used to avoid probate altogether.
If you are concerned about your assets being tied up in probate, an estate lawyer can help you create a living trust, a trust made while you are still alive. With a living trust, you can transfer ownership of your assets to the trust, which will then hold and distribute those assets after you die.
If You Need to Set Up a Guardianship
If you have minor children, you will need to appoint a guardian in your will to care for them if something happens to you. If you do not select a guardian of your choice, the court will appoint one for you.
It is essential to consider who you appoint as a guardian carefully. The guardian should be someone you trust to care for your children and make decisions in their best interests. They should also be someone who is financially and emotionally stable.
Professionals at Marchese & Maynard say an estate lawyer can help you choose the right person to be the guardian of your children and ensure that your wishes are carried out.
To Make Sure Your Will Is Carried Out The Way You Want
After you die, your will must be probated, a legal process used to distribute your assets according to your wishes. The probate process can be long and expensive if you have a complex estate.
An estate lawyer can help you create a trust, an entity that can hold your assets while you are alive and distribute them after you die. Trusts can be used to avoid probate altogether.
If you are concerned about your assets being tied up in probate, an estate lawyer can help you create a living trust, a trust made while you are still alive. With a living trust, you can transfer ownership of your assets to the trust, which will then hold and distribute those assets after you die.
To Handle Your Estate After Your Death
If you have a complex estate, it is crucial to hire an estate lawyer to help your loved ones settle your estate after you die. An estate lawyer can help them navigate the probate process, file the necessary paperwork, and distribute your assets according to your wishes.
Hiring an estate lawyer can be a difficult decision. However, if you have a complex estate, you must ensure that your wishes are fulfilled after you die. An estate lawyer can help you create a valid will, avoid probate, and ensure that your assets are distributed according to your wishes.
How To Find A Good Lawyer
When looking for an estate lawyer, it is crucial to find someone experienced and knowledgeable in this area of law. You should also ensure that the lawyer you choose is someone you feel comfortable with and can trust.
There are a few different ways to find a good estate lawyer. You can ask your friends or family for recommendations or search online for lawyers in your area. Once you have a few names, you can research each lawyer to see if they are a good fit.
You can also contact your local bar association or the American Bar Association for more information on finding a good estate lawyer in your area.
Marchese & Maynard say that no matter how you find a lawyer, meeting with them in person is essential to discuss your specific needs. This will help you hire the right lawyer for your situation.
Final Thoughts
Estate planning is a necessary process that everyone should go through. If you have any assets or loved ones, it is crucial to have a plan in place for what will happen to them if you die. An estate lawyer can help you create a valid will, avoid probate, and ensure that your assets are distributed according to your wishes.
