When a family member passes away, people who have interest and claim in the property come to get their share. In this situation, only an estate lawyer finds out who have proper legal claim in the estate. They also help in identifying the obligations of the related parties. If you are among them, you should definitely contact with a skilled property lawyer. With their help, you can rest assured that your parts in the property are protected. Lets discuss why do you need an estate planning and how to contact with an estate lawyer.
Why you should consider estate planning?
One of the main reasons why you should take estate planning into consideration is to know how and where your property will be distributed after your death. Estate planning NY can help you write down your wishes by drafting a will for you. Without a proper and legally valid will, all your property goes under intestacy law.
Oftentimes, people have preferences regarding whom the assets would be passed on. For instance, if you have a distant relative or friend with whom you have very good relations and want them to take ownership of your property instead of your estranged family. An Estate planning attorney can help you to develop a property just according to that. Even though you can make a will without consulting an attorney, retaining one decrease the risks of contesting the will after you expire.
The technical factors that you need to keep in mind are that the will has to be signed in the presence of at least two witnesses, and the signatures of the witnesses are required too. When a will becomes self-proving, it expedites the probate, as the court does not require summoning the witnesses. The Estate Planning Queens lawyer also ensures that you have the testamentary capacity, which means you understand what you are doing and that your property will be transferred to certain parties after your death.
Shortening the time for probate
Probate can take a huge amount of time to complete. You may not have that much time to go through the whole process. Estate planning lawyer in NY can give to the roadmap on how to bypass the probate or shorten the time span with the help of trusts. There are many kinds of trusts. A revocable trust can enable you to transfer all your assets to a trust while at the same time using them when you are still alive. You can also create the trust to make sure that your chosen beneficiaries get the assets after you die with the right estate planning NY.
What if you get incapacitated?
You always need to take this possibility into account. Estate planning Queens helps you to create a power of attorney and proper directive. These are basically some directions that instruct the healthcare professionals and caregivers to act according to your wishes when you move into a coma or become terminally ill. The state has a number of options from which you can choose the medical care that serves you the best.
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