There is more than just the usual bequeathal to family members regarding your property and assets. Depending on what you have planned for yourself, you can ask an estate planning lawyer to help draft wills tailored to your wishes. If you die without writing a will or the one that was prepared incorrectly, it will cause problems for the ones that receive the inheritance. The estate planning lawyer has different roles to play, depending on their scope of expertise. Some of the common ones include:
1) Trusts Planning
The attorney can help you understand the role of trust in your life. A trust is a legal instrument that enables an individual (the grantor) to transfer assets to another person (the trustee). In this case, the trustee manages and holds these assets for the benefit of others (beneficiaries). For instance, when you plan to shift homeownership from yourself to your child after your demise.
2) Wills Planning
A lawyer can help you understand the role of wills in your life. A will is a legal instrument that designates what should happen to your property when you die. It is vital in ensuring property gets distributed according to your wishes. For instance, when you plan on leaving property or possessions for your child after death, a real estate planning Orlando-based can help you distribute this inherited property amongst all children.
3) Advance Care Planning
It is a process by which one plans before death regarding the kind of medical treatment they would want if they become incapable of communication when they die. The lawyer can help you draft an advance care plan, ensuring that your wishes are communicated clearly. For instance, when the attorney helps you write down what kind of medical procedures/treatments you would want in certain situations.
4) Estate Administration
The estate administration collects all the assets, takes care of debts and taxes, and distributes the remaining property as per the will. The attorney can help you understand this procedure better by ensuring that your property is distributed as per your wishes after death.
The author, Dr. David K Simson is a trained radiation oncologist specializing in advanced radiation techniques such as intensity-modulated radiotherapy (IMRT), image-guided radiotherapy (IGRT), volumetric modulated arc therapy (VMAT) / Rapid Arc, stereotactic body radiotherapy (SBRT), stereotactic radiotherapy (SRT), stereotactic radiosurgery (SRS). He is also experienced in interstitial, intracavitary, and intraluminal brachytherapy.