California Law

How an Estate Lawyer Can Help You

An estate attorney is an essential part of the early stages of planning for death. Aside from preparing wills, trusts, and other estate-related documents, they can help you deal with disagreements among heirs and prevent disputes from escalating. The following are the benefits to hiring an estate attorney.

1) PROTECTS AGAINST CONFLICTS OF INTERESTS

Lawyers who handle probate and estate administration are generally called estate attorneys. Because their role is to administer the transfer of assets from one party to another, they have a vested interest in making sure the process runs smoothly. Without an estate attorney overseeing the administration of your estate, there is nobody who will be handling the process for you. If a family member or spouse is designated as executor, there may be a severe conflict of interest where they do not look out for your best interests. An estate attorney may represent so many people at one time that they will not have time to care about your individual needs and concerns.

2) ENABLES YOU TO PROPERLY PLAN FOR THE FUTURE

If you know that you will need an estate attorney to look after your assets, it can be useful for you to start planning for the future. If you have been thinking about retirement and saving for that financially secure future, now is the time to figure out how much of your financial assets will be available when you do retire. An estate attorney can advise you regarding your future financial issues, enabling you to have a profound understanding how any inheritance can affect your finances. That information will help you decide what plan of action is best for ensuring a secure future.

3) HELPS YOU GET THE MOST OUT OF YOUR INHERITANCE

If you have a substantial inheritance, it can be beneficial for you to hire an estate attorney who can protect your inheritance from unnecessary taxes and other deductions. An estate attorney can also ensure that you get the most out of your inheritance. While it is true that you may want to ensure that your assets go to those that are most deserving, you should also make sure that they go to people with whom you have the most in common. If they do not have the same values as yours, they may not appreciate the wealth as much as you would like them to. Take a look at how your family members interact and share values. Do they hold the same values as yours, or are they willing to compromise to benefit themselves? If you have a difficult time making decisions about the property that has been in your family for several generations, a trustworthy estate attorney can help you make these difficult decisions.

4) HELPS YOU AVOID DISPUTES BETWEEN RELATIVES

An estate attorney can advise on how you prevent disputes by helping you get an agreement among the heirs and beneficiaries of your will and trust. If a family member or other beneficiary is not willing to accept your will and trust, an estate attorney may be able to diffuse this type of conflict so that the hard feelings can be separated from your inheritance.

5) PROTECTS YOUR REPUTATION

An estate attorney can help you protect your reputation. By helping you make the best decisions, your attorney will ensure that no one dismisses the importance of your wishes. You want to ensure that your wishes are respected. Even if you choose to skip a will and trust, you need to have a plan for distributing assets among family members and other beneficiaries. If someone does not understand how assets were dispersed, they may wonder about the reasons behind your decisions or think that there was something questionable about them. An estate attorney can help clarify things and assure everyone that everything was done in good faith.

Aside from the legal benefits and peace of mind, hiring an estate lawyer can help protect your assets, maximize donations to your loved ones, and avoid costly conflicts that may arise later on.