Improper estate planning is a rising concern that even millionaires and billionaires have started recognizing nowadays.
Who handles the wealth that you’ve earned after your demise? Is your wealth going to the people who wanted to pass your assets to? What if a family member challenges what you planned in the will because you didn’t plan it right and there are legal loopholes in the same?
All these concerns are very much real and once you’ve left the world, your last wishes might not be fulfilled. Besides, estate planning isn’t only about passing on wealth after your demise. What if you get incapacitated due to an accident or injury? Who takes care of you and who handles all the financial decisions?
All these things are matters of serious concern. It’s your future and that of your loved ones that are at stake. Therefore, it is very important that you hire competent estate lawyers like estate lawyers Litvack Dessureault LLP to establish trust and make a full-proof will.
Counting on willy-nilly online services will do no good. Only elite lawyers like the ones at Litvack law firm can handle your estate planning. Such legal maestros can help you in the following ways:
- They will handle issues that concern disputes over the legitimacy of the will.
- They will tackle issues related to an ex-spouse trying to extort your assets illegally.
- They will make letters of verification and probate of wills.
When a legacy law firm handles your estate planning, they involve notaries as well. In simple words, your estate planning is legally full-proof.
Here are some elemental reasons that estate planning is also your responsibility towards your family:
- In case you have a minor child or a family member with special needs, you should assign a guardian who would take care of the needs of the minor or specially-abled family member.
- While you’re alive, estate planning can help you save taxes, really! You can pass on some assets as gifts to some family members to save taxes. The details are intricate; hence, only an experienced attorney can handle such matters.
- Some assets have sentimental value over financial value. You might want to pass such a specific memento to a loved one. But, if you do not legally mention it in your will, there’s no guarantee that the member you wanted to have a specific item will get it.
In a nutshell, these are but a few reasons why estate planning is important. You can check out elite law firms like the Litvack law firm to find out more info.