Why We all Need an Estate Planning Lawyer
Estate planning is important for everyone. However, not many people do it the right way. This is because they have little or no knowledge about the processes involved. It's advisable to hire a professional so you can get quality legal services.
There are several benefits that come with hiring an estate planning lawyer. If your estate documents aren't drafted properly, there can be several complications for your heirs. You need to create a number of legal documents to make a good estate plan. These documents include your power of attorney, your will, letter of instructions and directives.
Power of attorney
There are different times in the life of a person when they need a power of attorney. Some of these life situations are temporary. For instance, you can give your power to your husband or wife to oversee a real estate transaction when you're not in the country. For estate planning, you need your power of attorney to allow other people to make important decisions for you when you die or become ill. This includes giving them access to your business dealings and/or bank accounts.
A will does a lot of things. These include giving names of your heirs, listing your assets and property, and naming your estate's manager. In your will, you can include charities which you'd like to donate some of your assets to. The will also outlines who should look after your dependents, if any. Dependents may be any disabled relatives, underage kids and your pets. To ensure your loved ones enjoy a smooth succession process, ensure you hire an estate planning lawyer to draw up your will, click here to know more!
Letter of Instructions
Basically, this is a document you can either have your attorney oversee or write up yourself. The court doesn't give it too much validity as it does for a bona fide. Nonetheless, it's helpful for certain situations. It can be a list of instructions for your family members or children on how you want certain things to be done. It's a good way to relay your desires. If you want your pet to be fed a certain type of pet food, you can write it down on the letter. For more tips about real estate, visit http://www.huffingtonpost.com/Houzz/9-tips-for-selling-your-h_b_6616710.html.
These legal documents are important to family members. Directives help your family members decide about your medical care if you're incapacitated. Your loved ones can make decisions like who your physician will be, whether you should be moved to another hospital and the type of medicine you should take.