If your will does not create a trust for your child, a conservator will be assigned by the court to control the funds that pass to your child until he or she turns 19. The court will probably name the other living parent as conservator. If this is against your wishes, make sure your will establishes a trust for your child and name the Trustee you choose to control your child’s inheritance.
Sounds complicated, right?
If you have not taken the time to talk to an attorney about the future of your estate and financial plans then you are putting yourself at risk of a problems for yourself and your children. Whether you are looking for estate planning attorneys to make sure that you have your plans in place or you are looking for relief from a criminal record that is part of your past, it is important to seek out the legal advice that you need sooner rather than later. The records from February 202o indicate that there were a total of 2,551 exonerations mentioned in the National Registry of Exonerations. This means that there are ways to make sure that you are getting the help that you need as soon as possible.
Estate Planning Attorneys Offer Important Services for Families
When it comes to planning for the future, it is important to start as soon as possible. Although there are many times when people find themselves looking for help after an event, it is also important to look toward the future. Like many things in life, reactionary help is often necessary, but it is the proactive work that you do that can set you up for the greatest success. For example, it is important to get the legal advise that you need if you are facing a divorce or have been arrested for a drunk driving charge. It is also important, however, to make sure that you think ahead and take the time to create a living will and work with estate planning attorneys much sooner than most people do.
From selling a home and transitioning into a retirement setting to making sure that you are getting the help that you need in taking care of other resources, there are many times to make sure that you get the help of those who are the most qualified. Consulted sooner rather than later, estate planning attorneys can help their clients proactively prepare for the roles that they will need to play in the future. It is always better, for instance, to create the plans that will be needed in the future when all of the involved parties are of sound mind and physically healthy. When families find themselves trying to have difficult conversations with an aging parent the stakes are more high and the complications are more difficult.
Did you know, for instance, that if a loved one dies owning property in their own name, the first step to administrating their estate is to file an application with the county probate court? This step involves requesting the court open an estate proceeding and appointing a personal representative. Both of these steps are important, but manageable. They can, however, slow down the process of closing an estate. A challenge that can be even more daring for a family that is likely already dealing with many kinds of transitions.
Knowing the kind of legal papers to have in place is an important part of making sure that your wishes are followed after you are gone. Parents and grandparents who want to make sure the their family members do not have to worry about the closing of accounts, the distribution of wealth, or the other things that come with closing an estate are the ones who likely take the time to complete all of the necessary steps. For families who do not have these plans in place, it can be more challenging to make sure that all of the necessary details are taken care of. Whether these transitions involve moving a loved one into an assisted living location of dealing with a living will, an estate planning attorney is a great option. Do you have all of the necessary plans in place?