Deceased estates lawyers are a critical aspect of the estate planning process. In the article below, you will learn the services provided by deceased estates lawyers. Besides, the article offers some tips to help you hire a lawyer.
Services Offered By Deceased Estates Lawyers
Wills and estates lawyers offer the following services:
1. Appraising Your Estate
You need to know the value of your estate before bequeathing it to your beneficiaries. As such, your estate lawyer will assess and appraise your asset portfolio. They will also offer advice regarding how you should manage your assets. For instance, you could get rid of depreciating assets since they may be of little or no value when your beneficiaries receive them.
2. Writing And Amending Your Will
The wills and estate lawyer will help you create an irrefutable will. Typically, they will ensure that the will meets the legal standards, and it does not contain contradictions. If you are worried that your beneficiaries might contest the will, the lawyer could add a no-contest clause and explanatory letters. The lawyer will also amend your will as your personal and financial situation changes.
3. Creating Trusts and Power Of Attorney
Trusts enable you to safeguard the inheritance of beneficiaries until they meet a specified condition. For instance, a child cannot manage assets or a business. As such, you could place their inheritance in trust until they become adults. The lawyer will advise on a suitable type of trust and how you can prevent trustees from mismanaging the trust. They will also help you create a power of attorney that allows a trusted agent to make medical decisions and manage your finances when incapacitated.
Hiring A Deceased Estates
Consider the following when hiring a deceased estates lawyer:
- Check internet reviews to know how other customers regard the lawyer's services. Good reviews and ratings are a guarantee that you will receive quality services.
- See if the lawyer should have a flexible and friendly pricing policy. Professional liability coverage is a must-have.
Estate planning is a continuous process. Therefore, consider lawyers that are ready to form long-term relationships with their clients.
A wills and estates lawyer will appraise your property, write and amend your will, create trusts, and provide a power of attorney. Observe the recommended guideline when hiring a wills and estate lawyer.