4 Key Benefits Of Having Your Estate Attorney Set Up A Trust
Planning your relative’s estate can be a difficult and emotional topic.
This difficulty, along with the amount of legal understanding involved make it necessary for you to hire an estate attorney.
When you contact an estate attorney, make sure to have them put together a trust. Forming a trust is one of the best ways to handle an estate, and estate lawyers are the most qualified to put them together.
If you’re on the fence about this and want to learn why you should have an attorney set up a trust, start with these four points below.
Your Estate Attorney Can Help You to (Legally) Avoid Taxes
One of the foundational principles of wealth is minimizing taxes whenever you can.
This remains every bit as true when dealing with handling an estate. You’ll want to avoid heavy estate taxation when getting an inheritance so that you can use the money however you need.
That’s where an estate attorney comes into play.
These lawyers will help you to shield the estate from taxes. They will first and foremost take an all-encompassing look at the estate and then determine how much tax liability you owe.
From here, they’ll work diligently to reduce the tax bill altogether.
Helps Prevent Litigation
While going through the estate process is also matched with grieving, it’s important to know that it’s not uncommon to get sued during this time.
People might contest the delegation of a will, which leaves you open to months or years of more litigation.
When you have an estate attorney put together a trust for you, the likelihood of having it contested is dramatically reduced.
Hashing out the legal matters on the front end in the form of a trust makes the important details ironclad and much harder to contest.
You Will Get Your Inheritance Faster
The last thing you would want is to have your inheritance tied up as the details are hashed out.
When you have a lawyer a trust, the inheritance process is streamlined, which is good for you and everyone with a claim to the estate.
This is especially important if you plan to invest your inheritance or otherwise use it.
For instance, many people use their inheritance to pay off student debt, open their own company, invest in stocks and other investments or become a homeowner for the first time.
Your lawyer will also be able to advise you on these matters of investment and the implications that come with each option. They can also point you toward financial experts in their network that can be helpful.
These Documents Are Of Life Changing Importance
Because these legal matters literally change the course of lives, it doesn’t make sense to go about them alone.
Having an attorney on your side that handles estate trusts lessens the burden tremendously. This is why estate attorneys like Audrey Rhodes, of Rhodes Law Firm, PC, work diligently to create these trusts.
If you’re interested in a trust and don’t know where to start, get in touch with us today.Tags: estate attorney, estate planning, estate planning attorney, estate planning lawyer