Wednesday, August 20, 2014

One of Six Reasons Why Your Family Will Have To Hire An Attorney For Your Estate

Lynn A. Dean,
Estate Planning Attorney
Reason #1 -  No documents were created

When there are no documents (Wills, Trust, Powers of Attorney), the estate cannot be managed either during life or at death without the assistance of the court system. The court process is time consuming and expensive. Even when a couple is married, the spouse cannot act on behalf of the other spouse if there are no documents, unless the spouse’s name is on the asset. The estate will pass to the surviving children, but only through the probate process, which will take a minimum of 6 months. 

Many people make the incorrect assumption that estate planning is for the elderly, or for older clients looking to protect large estates. In reality, most people benefit by having an estate plan that keeps pace with their changing needs over time. A solid Estate Plan ensures that your family and beneficiaries will be able to settle your estate in the simplest, most cost effective manner.

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