What exactly is estate planning? Estate planning is a very important step for nearly everyone and, again, depending upon your personal circumstances and your wishes, estate planning can be either very simple or very complicated. But regardless of what the condition of your financial affairs might be, you need to make sure that you have a very thorough and clearly defined estate plan in place that covers all of required bases upon which your final will is written. This means that the very beginning of your plan should be an assessment of your current assets, liabilities, investments, taxes, and any other factors which could directly or indirectly affect the distribution of your assets upon your death. You will want a Seattle Estate Planning Attorney to draft this initial plan and then review it for errors or omissions before you sign it. An estate planner will also be able to assist you if a will is required due to state requirements.
Because of the important role that wills play in the process of estate planning, you will want to consult with several different Seattle estate planning attorneys to gain a broad array of perspectives on just how your will should work. Willingness is a critical factor in the process. If you aren’t willing to truly commit to the will you create, then there is no way that your will can take effect. So make absolutely sure that you are willing to commit to your legal desires.
Your Seattle estate planning attorney will not only help you write your will, but he or she will also be able to assist you if your loved one does pass away unexpectedly. If you die unexpectedly, then your estate planning attorney could be called upon to compose the probate, distribute the assets, and pay any outstanding debts. Your Seattle estate planning attorney will have extensive experience in all of these areas and he or she will be well-versed in the latest state intestacy laws. The will must comply with intestacy laws in order to be valid and this is something that your estate planning attorney will be very knowledgeable about.
It is important to note that if you have a long term care insurance policy, it will need to be signed over to your attorney. Your attorney will be able to draft a legal Will that meets all of the necessary requirements and is supported by health insurance. The health insurance must provide at least a lump sum payment upon the death of the policyholder. Your Seattle estate planning attorney can assist you with all aspects of making your will.
If you find yourself in the situation where you are having difficulties with the will, then you may need the assistance of an estate planning attorney. If you have questions concerning the process, then you should refer to the local bar association. In Seattle, there is a bar association that can provide you with a referral service. If you are referred to an attorney, he or she may need to be retained, and may charge a retainer fee for their services.
Remember, if you are going to hire an estate planning attorney, then you are also hiring a friend. You will have trust issues with him or her, which is normal. However, they are there to help you in any way they can. Should you ever pass away, you want to be certain that everything is handled properly so that your family can be taken care of when you are gone. You don’t want your family to struggle financially when you aren’t around to help them.