Do you need an estate planning attorney in Lakewood Ranch? Sometimes people make the mistake of only thinking about planning for their estate until late in life. However, no one should have to worry about what happens to their loved ones if something tragic should happen. It is wise and responsible to take steps to work with an estate planning attorney to ensure there is a smooth transition of asset ownership in the event that an unexpected passing was to occur. The Troubles of Not Writing a Will When a will is fully written and prepared, assets are distributed per the intentions of the departed. Only in very rare circumstances can a will be contested. The attorney who prepared the will is called as a witness during such hearings, which makes overturning the will extremely difficult. If there is no will, things can be complicated. Surviving relatives must go into probate court – without any documentation from the deceased – and place claims on assets. The court ends up with the full decision of the distribution of the assets based on the law. The end result may not be what the deceased would have intended among other potential problems. Estate Planning is Comprehensive Estate planning is not entirely about drawing up a will. There are other steps that can be taken during estate planning in order to make a smooth transition of assets. For example, stocks or bank accounts could list a beneficiary to whom ownership would pass upon the primary account holder’s (or holders’) passing. This would eliminate the assets from any probate and, in turn, keep them from being tied up. Similarly, estate planning could entail making sure certain assets do not transfer prior to passing to avoid what might be a costly gift tax. Estate planning does not have to be bothersome or convoluted. Let us simply the process for you. For a free consultation, please call us today at 941-365-2253.
