Estate planning lawyers, also known as probate lawyers or estate planning attorneys, are professional legal professionals who have a broad understanding of both state and federal laws that impact your estate during your life’s years of ownership. This legal knowledge and expertise make them excellent sources for basic information about estate tax strategies, probate laws, trusts, and real property. Additionally, they can assist in the preparation of living wills, medical power of attorney documents, and important estate asset protection forms. They are often called upon to defend their clients in courtrooms where they may be representing heirs who are contesting certain assets owned during the life of the owner. Have a look at JacksonWhite Law – Peoria Estate Planning Attorney for more info on this.
No one wants to think about death, but accidents and illnesses do happen. When this happens, a comprehensive estate plan is essential to ensure that your family has the funds they need in order to care for their loved ones. An estate planning attorney can help you determine how much of your assets should be placed in a trust and how much should be distributed according to a will. They can also assist in the drafting of a Will, so that your beneficiaries can obtain access to their inheritance if necessary. Your attorney can also make sure that your last wishes are fulfilled and that your family continues to receive all the financial benefits that you have determined are theirs by the terms of your Will.
Another way in which an estate planning attorney can assist you is through the preparation of legal documents. For example, they can assist you with the preparation of the final will and trust, a Durable Power of Attorney for finances, or a Durable Power of Attorney for other assets. Additionally, they can provide assistance when making the important decisions about estate planning such as who will manage your assets in the event of your disability or when you pass away. Because these decisions involve the collective interests of your estate and your beneficiaries, they are best handled by a professional attorney.