Estate planning refers to the planning of your assets handover from one person to another, on the occasion of some mishap happening to the holder of the property. In simple terms, it’s sort of a will; however it is an entity on its own.
Let us clear some terminologies, connected with Estate Planning.
For those in law business, probate seems a very old term. However, it can be pretty confusing for the layman. It is basically the legal process, in which a competent authority reviews a will. The aim is to find out the truthfulness of the will. Here’s when you need an estate planning attorney.
The court appoints a person, who is responsible for clearing the title of the will holder. The collection of dues from the assets and disbursements of the liabilities comprises of the entire process.
Qualities of the Best Estate Planning Attorney
You should check the background of your prospective attorney. You can go for referrals, as it makes it easier. You may skip background checks, altogether. Check to see, if your attorney has malpractice insurance. It makes things easier, if the concerned makes mistakes. You can recover the losses through insurance.
Another bit of important information. One should not hire a family law lawyer to handle asset related issues. These are a different ball game altogether.
The Estate Planning Attorney acts as a n advisor and counsellor during estate planning and asset allocation issues. Under probate circumstances, there are lot of emotional issues to be handled, due to a death in the family. Financial issues crop up at such instances, as well. The attorney is the best person to fall back at such times, due to experience of handling such situations.
It is always better to hire a competent attorney, to handle estate planning and probate issues.