Dealing with a living will and trust can be a difficult process. Drafting the document is something that many view as complicated and difficult to do, though it can be accomplished in as little as a few minutes if all the proper precautions are taken.
Negotiation and mediation of divorce are huge motivators for people to seek out the services of an attorney. Professional lawyers are usually familiar with a wide array of laws, and are generally good for you to familiarize yourself with, even if you have no immediate need of a lawyer yourself.
Most people tend to mentally surround themselves with an aura of invincibility when it comes to facing negative social consequences. For example, with divorce, people tend to think it can’t happen to them. Statistics won’t sway most folks — they simply believe they are immune to any sort of damage or incident.
Another large driver of business for law professionals today might be estate management. For example, if someone passes away, finding the right recourse for distributing the person’s money and property amongst their living heirs can be difficult. With preparation, however, many of these complications can be avoided completely, and the troubles associated with the stress of probate, for example, can be abandoned.
In planning an estate, you might be helping yourself in a number of ways. When clients of family lawyers were asked what their biggest motivators for planning an estate were, some of the following examples were given:
Avoiding probate — probate is when the wishes of a deceased individual must be “proven” in a court of law in order to affect the changes therein. This can be hugely costly, especially if person A, for example, disputes the allegations of person B where the validity of a will is concerned.
Minimizing discord among beneficiaries — as mentioned above, sometimes, even the closest of families can fight over money, property, and the last wishes of a deceased person. Planning your estate thoroughly can eliminate any margin for family and friends contesting portions of your will in the event of your death.
Protect children from misspending and mismanaging their inheritance — this one’s a big one. Children are not often lauded for their aptitude as money-savers, so structuring the way they receive any money or property from you can be hugely beneficial, and it could go a long way in protecting and securing their futures.
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