How Estate Planning Can Help You Avoid Complications During Probate
Ever wonder how your assets will be distributed after you pass away? Usually, most Estates are distributed through Probate, which is filed through and administered by the Court. If an individual is not properly advised or prepared, the probate process can be lengthy, tedious and very expensive. However, in many cases, with the help of an experienced estate lawyer, the process of asset distribution can be streamlined and uncomplicated. There are several ways to mitigate the probate process and take steps to ensure that distribution of your assets does not cause unnecessary stress for your beneficiaries.
Will your Estate Require Probate?
State Laws regarding distribution of property located in that State can differ significantly, and ascertaining and identifying possible issues that may arise. When drafting Estate Documents your Estate Lawyer should prepare documents that are specific to address your individual needs. Each Estate differs, and a general approach is never recommended. In some cases, if properly planned, an Estate may not have to be administered through the Probate process at all. Consulting and working with a skilled and experienced estate planning attorney in Maryland will provide the necessary guidance through this process.
Possible ways that may limit the need for Probate of an Estate
In some cases a Revocable or Irrevocable Living Trust may be used to limit or eliminate distribution of assets through Probate. These Trusts and other documents, can be utilized to transfer or disburse certain assets outside of the probate process. These options are not right for every individual, but in many cases, you have several options to consider when it comes to asset distribution choices
There are additional transfer of asset mechanisms, such as Life Estates for transfer of Real Property and Health Care Trusts for Children and Spouses which can designate direct beneficiaries in an effort to bypass the probate process. An estate lawyer near you can educate and help you establish the best approach depending upon your particular situation.
Contrary to popular belief, a Trust alone may not bypass the need for Estate distribution through Probate. However, proper Estate Planning with a trusted Attorney can ensure that the distribution process of your assets is as quick, simple and uncomplicated as possible. Furthermore, it is important to understand that any estate plan is always modifiable throughout your life, therefore having a trusted Estate Lawyer to guide you every step along the way is essential to proper planning for your future.
Do You Need the Help of an Estate Planning Attorney?
Are you searching for “estate lawyer near me”? ZM Law Group estate lawyers can assist you with developing the best strategy and customizing a targeted approach tailored to your particular needs. We offer Estate Planning counsel, ongoing support and guidance in order to protect your assets and your beneficiaries at all times.