It’s painful to face the possibility that a day will come when you can not be there to love and to support your family. Because of this, people are often hesitant to closely examine the idea or to set aside time to make key decisions about how their money and belongings should be handled. If you have a large estate, own real estate, or if there is anything that complicates your situation, and you just don’t want to try to figure it out alone, an Estate Planning Attorney is the best resource you can have.
Planning all of the details of what will happen when you pass on, in terms of your property and accounts, is the best thing you can do for the people you love. It provides clarity for them on what your wishes were, and it also helps to keep them from getting tangled up in court proceedings over valuable items that need to be officially handled by a judge. This is particularly important in families where there may be someone who will try to push the others to let them take a disproportionate amount of the estate. Try to remember that, while they’re grieving, your loved ones may be vulnerable and less able to push back against the more unscrupulous branches of the family tree.
You also need special help from an Estate Planning Attorney if you are trying to leave money or property to anyone who can’t legally take direct possession of it. This is usually an issue for parents and grand parents who want to leave money for the benefit of young children who are not yet mature enough to legally have control over money. A lawyer can help you to make arrangements that are appropriate and legal, and to avoid serious mistakes like setting up a life insurance policy with a young child as the beneficiary.
There will inevitably be a lot of emotion and confusion when you pass on. It takes time for people to process the death of anyone they love. You can make things a lot easier for those you leave behind by providing clarity about what should be done with your assets, and what your wishes really are. Coates, Coates & Coates P.A. will be happy to set you up with a consultation where you can discuss your concerns and needs with a lawyer who is qualified to handle estate planning.