Elder Law | Why are Probate and Trust Lawyers Essential?
Elder Law | When elder loved ones are in the process of dealing with their elder law estate planning, they must make sure to include experienced and skilled probate and trust lawyers in the process. Why you ask? It is because they can guide them on how to deal with their estate after they are no more. Talking to an experienced probate attorney is the first step in this process.
What Exactly Goes on in the Probate Process When You Are in the Middle of Elder Law Estate Planning?
One must know what the probate process really is before starting. The probate process is used so that an elder person can transfer their property to their loved ones and to a certain charitable organization. This means they will be asked to file a last will and testament in the court, and they will need to establish what property, assets and debts will be a part of their estate.
When a probate and trust lawyer is hired, their job will be to help the elderly and their family with the whole court process and guide them as how and what they will require for the documents which will be needed to transfer the title or possession of the property, according to the will that was written. The court will then sign the documents, making it an official and legal document, leaving the elderly to transfer their ownership assets.
The Benefits of Holding a Trust
When an elder person holds a trust, they allow a third party or a trustee to hold their assets on their behalf. Here are some benefits of a person holding a trust.
They Have Control of Their Wealth
They Can Protect Their Own Legacy
They Will Have Private and Probate Savings