The field of Justice and Law often considered as one of the most complex professions a person can pursue. The lawyers are one of the most educated and qualified people one can come across. We, commoners very seldom brush our shoulders with lawman in our day to day life. Most commonly we come in contact with lawman when we hire estate planning attorney mostly to make a will; the will helps to distribute a deceased’s tangible property among his family members.
What is Estate Planning?
In the article, we will try to describe what does the estate planning means and the role of estate planning attorney in a very simple manner. Estate planning is broadly divided into two parts; firstly it’s a strategic plan to manage and distribute property in the death of its owner and secondly to carry out the wishes of the deceased person. The role of the attorney is to ensure that the request of the dead is carried out correctly or not; the other time when a person hires an estate planning attorney when they are trying to avoid probate.
Why avoiding probate is necessary?
Probate is a process carried out under the supervision of the court where the court locates and determines the value of the assets the deceased person has left behind. The primary factor which a person considers while hiring an estate planning attorney is to avoid the probate as a chunk of the asset gets wasted while paying off state and federal estate taxes and several other inheritance taxes.
The role of Estate Planning Attorney:
The other time a person needs an attorney when he wishes to control his property via a trust; by doing so, the person creates a separate entity for his property in the eyes of the law. The owner may have the controlling rights in trust, but after his death, the well being of his estate will be looked after by the other members of the trust. It is a widely used method to avoid probate as the court is only concerned with the legal properties of the deceased.