The majority of people work hard to improve their lives and the lives of their loved ones. They do everything possible to make sure that their loved ones are financially secure, that the kids receive a good education and that provision is made for emergencies. In time, most people build up estates. These estates need to be managed, however, and it can be a daunting task. With help from an estate planning attorney Seattle WA families can rest assured.
It is a tragedy that so many people still die intestate. There are even more people that die with a completely out of date last will and testament. Such people often do not realize that their neglect can easily lead to financial hardship for their loved ones. Every single person should have a legal last will and testament and this document needs to be kept up to date at all times.
Some people, especially younger ones, think that this type of plan is only necessary once substantial assets and savings have been accumulated. This is certainly not the case. One should ask a lawyer to develop a plan the very moment an income is earned. Such a plan will make sure that the client has a balanced portfolio and that provision is made for both the immediate and future needs.
The last will and testament does not only deal with the wrapping up of estates after the testator dies. Many people use their wills to make sure that their wishes are honoured when they become unable to handle their own legal affairs. Accidents, illness and a wide variety of other conditions can render people incompetent to make informed decisions.
When someone dies, the last will and testament goes through the probate process. This can take some time, especially if the estate is complicated or if the will is complex. During this period the loved ones of the deceased may struggle to survive. That is why lawyers advise their clients to make provision for the financial survival of their loved ones during the probate period.
It s a sad fact that many people use their last wills and testaments as tools of control or punishment. Experts agree that this is not a good idea because such wills can easily be contested in court. This does not mean, however, that a testator must be blind for the weaknesses of his heirs. If an heir is a known spendthrift, for example, it is only prudent to introduce measures to protect the heir against himself.
Experts also agree that a last will must never be treated as a surprise. The content of a last will should be known to everyone concerned. It is not fair or just to leave loved ones hanging until after the death of the testator. Discussing the content of the will with loved ones can help to avoid conflict at a later stage and any misconceptions, false hopes and disagreements can be managed while the testator is still alive.
Even very small estates should be backed by a proper management plan. Nobody is too poor to merit a last will and testament. A lawyer that specialize in this field can help to manage estates responsibly and even profitably.
It is a tragedy that so many people still die intestate. There are even more people that die with a completely out of date last will and testament. Such people often do not realize that their neglect can easily lead to financial hardship for their loved ones. Every single person should have a legal last will and testament and this document needs to be kept up to date at all times.
Some people, especially younger ones, think that this type of plan is only necessary once substantial assets and savings have been accumulated. This is certainly not the case. One should ask a lawyer to develop a plan the very moment an income is earned. Such a plan will make sure that the client has a balanced portfolio and that provision is made for both the immediate and future needs.
The last will and testament does not only deal with the wrapping up of estates after the testator dies. Many people use their wills to make sure that their wishes are honoured when they become unable to handle their own legal affairs. Accidents, illness and a wide variety of other conditions can render people incompetent to make informed decisions.
When someone dies, the last will and testament goes through the probate process. This can take some time, especially if the estate is complicated or if the will is complex. During this period the loved ones of the deceased may struggle to survive. That is why lawyers advise their clients to make provision for the financial survival of their loved ones during the probate period.
It s a sad fact that many people use their last wills and testaments as tools of control or punishment. Experts agree that this is not a good idea because such wills can easily be contested in court. This does not mean, however, that a testator must be blind for the weaknesses of his heirs. If an heir is a known spendthrift, for example, it is only prudent to introduce measures to protect the heir against himself.
Experts also agree that a last will must never be treated as a surprise. The content of a last will should be known to everyone concerned. It is not fair or just to leave loved ones hanging until after the death of the testator. Discussing the content of the will with loved ones can help to avoid conflict at a later stage and any misconceptions, false hopes and disagreements can be managed while the testator is still alive.
Even very small estates should be backed by a proper management plan. Nobody is too poor to merit a last will and testament. A lawyer that specialize in this field can help to manage estates responsibly and even profitably.
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