The estate planning is a process which involves people, for example, your family, friends, and relatives or in some cases, any charitable organization of your choice. It also includes your properties or assets and the other assorted forms of possessions and titles that these assets may take and it also includes your future requirements which you need in case you become unable to take care of yourself. Through the planning of estate you can decide:
- How and who will take care of all your assets for your benefit just in case, you become unable to manage them by yourself in the future?
- When and under which situations it is understandable to divide all your possessions during your lifetime?
- How and you will be the heir of all your assets?
- Who will be there to support and take care of your minor children in case you become unable to take care of them by yourself?
- Who will make necessary decisions on behalf of you concerning your welfare and care in case you are not in the right state to take of yourself?
- What to do with the remains after your death or where would you want them to be scattered or buried?
Once you have all the answers to these six questions, you are ready to take the help, advice, and service of the qualified lawyer about the estate planning. A lawyer like a very necessary part of your life because as they are experienced and knowledgeable, they can help you to plan your estate wisely and advice to manage your taxes, title the properties and handle the assets.
The estate includes everything you possess. This includes the properties held in your name as well as jointly with others, for example, stocks, bank accounts, furniture, real estate, cars, jewelry, etc. Whether your estate is small or large, you should designate someone like Bert Moll to manage all these in case you are not in the right state to take care of yourself. If your estate is not big enough then you should plan who will be your heir after your death and handle the allotment. On the other hand, if your property is large, ask your lawyer to preserve it in such a way so that it either reduces or postpones the amount of taxes which might be eligible for payment after your death.
You might what to know what will happen to your properties if you are unable to make an estate planning? Well, in this case, your property will be presented in the court, and the judge will appoint a rightful heir to take care of your possessions. A lot of the people believe that if you die without a proper will then the assets will be going to the state. However, in reality, this does not happen. If you appoint a lawyer for estate planning, then you will at least have the assurance that all the properties are going to someone who deserves it.