Hiring an estate planning lawyer will give you and your family peace of mind when you are gone. Estate planning puts all of your wishes and demands in writing, so there’s no question about what will happen in the future.
Owning a business, having vast financial wealth, and securing your children’s future can all be reasons you need an estate planner. As experts in wills and trust administration attorney, they will put the legal documents in place and settle any disagreements and unanswered questions.
Here are five signs it might be time to hire an estate planning lawyer.
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Hiring an Estate Planning Lawyer Should Begin Early
As soon as you become a legal adult, it would help to think about estate planning. It’s a good idea to sit down with an attorney to talk about the future, so you are confident your assets go where you intend. By the time you hit your mid-30s, it’s time to get the process moving.
Hiring an estate planning lawyer can help you achieve these goals.
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Owning a Business
The best estate planning lawyer can guide you through the future of your business. If your company has been in the family for decades, you want the proper future planning to ensure it remains viable for future generations.
Who will run the business when you’re gone? If you have three children, you want to include the duties of each child. If you want the business evenly split, estate planning can help determine the future.
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Financial Wealth
When you have generational wealth, you want to make sure your beneficiaries receive any money or property that you want them to receive. Money due to future generations can often create questions about who gets what.
The best estate planning lawyer can also work with your financial advisor to settle any questions surrounding taxes and proper payments to children, grandchildren, or extended family.
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Securing Your Children’s Future
An estate planner can help you determine guardianship of your children should you die before they are of legal age.
This type of planning is best for children with disabilities or if the other parent can’t properly care for your child. A good estate planner will solve any of these problems, so guardianship of your child doesn’t end up in court upon your death.
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Family Squabbles
It’s no secret there could be family squabbles once you die, especially when there is considerable money or property at state. Estate planning solves those problems.
Setting up a trust, knowing who gets the vacation home, or even an expensive collection of something can all be part of the process.
Use These Signs to Hire an Estate Planning Lawyer
There are five signs to hiring an estate planning lawyer, including your age, owning a business, and having considerable financial wealth. Estate planning can also secure guardianship of your children and settle any family disputes.
Putting your wishes on paper making them legally binding is the best way to secure your future.
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