The first time my son got into some legal trouble, I didn't hire an attorney. I figured that he would just get a slap on the wrist and that he should accept his punishment, and that's what happened. The second time he got into trouble, I had to hire an attorney. I knew that since he had a record, the judge would not be so lenient about his punishment and he could suffer some serious consequences that could haunt him for his entire life. If you have a troubled child, my blog could help you understand the value of hiring an attorney for him or her.
the value of hiring an attorney for your troubled child
4 Mistakes People Make When Planning Their Estate And How A Lawyer Helps
Owen Bertrand
Creating a will is essential as it reduces the amount of struggle your family might have to experience when you are no longer there to cater to their needs. But you need to make sure you create an error-free plan that will not become a source of legal and personal battles for your survivors. Here are four typical mistakes people make when planning their estate and pro guidelines to help you steer clear of them.
Planning Alone
Many people make their last will and other estate plans alone. Often, they hire a lawyer and deal with the professional privately in creating an estate plan. While this is an excellent way to minimize possible interference from the family, it is also wise to gauge their feelings and attitudes about the estate. You should have an open discussion with your family members and ensure everyone is on board with the plan you have in mind. It is also wise to notify anyone you have chosen as a trustee to your estate.
Leaving All the Assets to One Person
Probate planning is a unique field as many people may not separate the plans from their emotions. You might feel like you only need one person to benefit from your entire estate, but it is a mistake in the planning process. If the person dies or becomes incapacitated before you, you will have to make emergency changes to your plans. It is advisable to get a primary person who will benefit and optional additions in case the main one is absent.
Overlooking the Children's Future
It is advisable to consider the future of your kids when making plans. You might give plans and instructions with the best of intentions. However, if they have flaws, your offspring will suffer. If you have little children, you should be very specific about how the guardian will manage the property and ensure you have sealed all loopholes for misappropriation. It is wise to think of what the children want before allocating your property to them,
Forgetting About Taxation
Unpaid estate taxes create massive dents on what you plan to leave behind for your beneficiaries. If you are not careful about them, you could compromise your investment. Unless you have a massive estate, it will not attract federal taxes. However, the planning lawyer will help you minimize your tax obligations.
Consult with an estate planning attorney before starting the planning process. They will help you create a customized plan that will offer your family maximum benefits from your estate.
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