There are some terms that are worth noting at the start of this article. They will hopefully give an idea of what the article is about. They are estate attorney, estate lawyer, probate attorney, probate attorney San Francisco, probate attorneys, probate law, probate lawyer, probate questions, San Francisco probate, and more.
There is a statistic worth noting as well. It is there to give some special additions to the article and to portray the subject matter in an illuminating way. It is:
- 51% of Americans between the ages of 55 and 64 don’t have a will.
A person who has assets should consider having a will. A will is important because if a person dies, there money and there assets would be unaccounted for and might go to an unknown entity, such as the government. Without a will, the children of an individual might fight over the remaining property, causing strife within the family.
There are many people above a certain age that have a will. These people have likely built up assets over time, including houses and property, as well as more liquid assets such as stocks, bonds, and other funds. They may have a considerable amount of money in their bank accounts.
A will determines who receives what assets. That means a person can be cut out of the will if a person believes that that person is useless or has not done much for the person who has the will or their family. A person who is off on their own, for instance, is unlikely to be part of will rather than the family members that have been there for the person.
Wills require legal advice, however, even though there are some options to create a will online using an automated form. Wills can be simple, with one or a few people receiving a discrete number of assets. But other wills are harder if a person has more money and more assets in a more complicated fashion.
A probate lawyer is someone who deals with probate law, which is similar to estate law and will law. An estate is a part of the assets of a person and is subject to a will. An estate is something that is passed on from family member to family member, depending on what the family member wants to do with the assets.
An estate lawyer is someone who deals with estates. These estates may be particular to a person or may be similar to other people’s estates. The estate lawyer generally comes into play right before the passing of an individual and right after. The estate lawyer handles certain situations with the execution of the will.
The execution of the will generally means a reading of the will aloud of the person, vocalizing their wants and wishes, according to the document. This can be a good time for many people or a bad time for many people. People may become frustrated if they were cut out of the will.
People may be happy if they received more in the will than they were expecting.
Either way, it is likely to be a solemn time, if the person has passed recently. It will also be a solemn time because this is the last situation in which they will have a concrete remembrance of the person. This can be difficult for siblings and other family members.
Wills and trusts are two specific issues that are helpful to know in terms of terms. Wills mean that someone is given something according to the will, something to pass on. Trusts are similar to that but mean slightly different things. A trust may been someone is in charge of distributing.
Wills and trusts are important for anyone with a significant amount of assets or someone who has reached a certain age. Wills and trusts help people organize their belongings for when they pass on. Wills and trusts may be helpful for many.
When people die, they pass on their possessions either to family members, friends, or the government. Their possessions get passed on to various individuals, which could cause strife or elation. It is a solemn occasion as it is a final gift from a person who has passed. Having a probate or estate lawyer is helpful for the process.