Why Should You Consult an Attorney Experienced in Drafting Wills and Trusts Agreements? There are many reasons why you should consult an experienced attorney if you’re thinking about setting up some sort of will or estate plan. Not only will they be able to assist you in getting the will in place, but they can also help protect your loved ones and assets from unwarranted claims by others. Second, an experienced attorney is a neutral third party who can help you navigate the sometimes confusing and sometimes difficult decision of how to divide your assets – particularly when there are multiple beneficiaries.Have a look at Phoenix Wills and Trusts Attorney for more info on this.
If you have no legal document to provide as evidence of your intended distribution, it may be wise to hire a person to act as the “agent” for you in writing. This is called a “trustee appointed” or an “agent.” An experienced estate planning attorney can draft a durable power of attorney or a trust, which appoints a trustee, and also help draft a qualified living trust, which is simply a legal document that names someone as a beneficiary. The most common forms of living trusts include: revocable living trust, irrevocable living trust and durable power of attorney.
Wills and trusts are becoming more common as people continue to grow more interested in planning their estates. Often, when people die unexpectedly, their assets, particularly real estate, are split between two or more family members before they can be divided up. This often results in a “blind trust,” where there is no way to determine who receives what. In addition, some individuals set up a “personal representative” to act on their behalf in their absence. For these and other reasons, it’s wise to consult a well-experienced estate planner, estate lawyer, or qualified wills and trusts attorney before making any significant decisions regarding your estate.
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Israel & Gerity, PLLC
202 E Earll Dr #440, Phoenix, AZ 85012
Phone No. : 602-274-4400