Most people have heard a horror story about the probate court. These often involve famous people who died without the proper estate planning documents in place to pass their assets to heirs directly. Despite the fact that these stories are widely circulated, some people still don’t have an estate plan. There are a few simple things everyone should do so their family doesn’t have to hire a Probate Lawyer in Lubbock TX following their untimely death.
Write a Will
A will is the most basic estate planning document. Anyone may write one. This document gives instructions to the probate court about how to distribute assets when they die. This information is public. Because anyone can see it, the likelihood of someone contesting a will and the family having to pay a Probate Lawyer in Lubbock TX to defend it is high. People who don’t want the world to have access to their financial information after they’re gone might want to consider also creating a living trust.
Create a Trust
There are several benefits to having a living trust. Many people use them because they are private. Trusts allow people to pass assets to their loved ones or favorite charities without intervention from the probate court. Although the initial investment for a trust may be higher, many people are able to recoup that cost in the time and money they save by not having to go through probate.
These basic estate planning documents primarily address financial assets. There are other documents for healthcare powers of attorney and advance medical directives. It’s important to have a complete estate plan that covers all aspects of life. The probate court also handles issues regarding guardianship and conservatorship for people who become incapacitated without important documents in place. This court is open and interested parties may object to any request to take on these roles.
Sometimes it isn’t possible to avoid probate court. In these instances, it’s important to have an experienced attorney. Families who need someone to represent them in probate court can Visit Sitename to get in touch with an attorney who could help them navigate the system and resolve their probate matters.
