Did you know that probate, despite its noble intent of orderly asset distribution, can potentially erode 5% or more of your estate’s value? Not an ideal parting gift for your loved ones, is it?

It doesn’t have to be this way, though. The daunting prospect of probate can be circumvented.

Yes, you heard it right! We can sidestep the laborious probate process through some well-executed maneuvers.

So, let’s delve into the essentials of estate planning to avoid probate and better preserve your legacy.

1. Revocable Living Trusts

Revocable living trusts serve as an effective instrument to sidestep probate. With a trust, you transfer ownership of your assets into this entity.

The clincher? It entirely bypasses probate since technically, the trust – not you – is the legal owner of these assets.

However, it’s crucial to note that you’re not ceding control in any way. You’re in the driver’s seat of this trust throughout your lifetime. You hold the power to manage assets, effect buying or selling, or even dissolve the trust, should you change your mind.

In essence, the trust serves your interests, maintaining control, while ensuring a smooth transfer when the time comes.

2. Joint Ownership

Joint ownership works much like a relay team. You share ownership of assets with another person, often a spouse. When one partner passes, the baton of ownership passes seamlessly to the surviving partner, and not into the hands of probate courts.

There are two variants of joint ownership, namely joint tenancy with the right of survivorship and tenancy by entirety. Though they sound quite complex, their underlying principle is simple and efficient. Joint ownership forms a sturdy bastion against the onslaught of probate.

3. Payable-on-Death and Transfer-on-Death Designations

With payable-on-death (POD) and transfer-on-death (TOD) designations, asset transfer becomes a breeze. It’s almost as if you could point to a person and state, “This is yours when I’m no longer around.” And that’s practically what these designations facilitate!

POD works wonders for bank accounts. You retain control over your funds, and on your passing, the assets transition directly to your chosen beneficiaries.

On the other hand, TOD applies to securities such as stocks and bonds. Following the same principle, you hold sway over these assets during your lifetime. The assets only transfer upon your demise, neatly sidestepping the probate process.

4. Gifts

Gifting is an age-old tradition of passing wealth, and it could also be an effective strategy for avoiding probate. The idea is simple but potent – if you don’t own it when you pass away, it doesn’t go through probate. So, consider giving away some of your assets while you’re still around to see the recipients enjoy them.

But before you start wrapping things up in shiny paper, it’s worth taking a moment to understand the potential gift tax implications. There are rules about how much you can gift tax-free each year and during your lifetime.

The last thing we want while trying to sidestep probate is to land in hot water with the IRS. So, it’s always a good idea to check in with a financial advisor or an estate planning lawyer before making significant gifts.

5. Small Estate Provisions

When it comes to the probate process, smaller estates often have a unique advantage. They can take refuge in something known as small estate provisions.

A Ray of Hope for Small Estates

These are special rules established by states to offer a more simplified process, or even a total exemption from probate, for estates that fall below a certain threshold. This is the law’s way of acknowledging that not all estates, especially the relatively modest ones, need to be put through the full rigor of probate.

Navigating Small Estate Provisions

But while small estate provisions can make things considerably easier, they come with their own set of complexities. For starters, the definition of a ‘small estate’ varies from state to state. Some might set the limit at $50,000, others at $100,000 or more.

Moreover, certain types of property may not be counted towards an estate’s value. So, while your estate may seem small on paper, it could still be subject to probate if you’re not careful.

Consult the Professionals

The smart move here is to consult with an estate planning lawyer. They can help you understand how small estate provisions work in your state and whether your estate qualifies.

Even if you can’t entirely avoid probate, these provisions could potentially save your heirs a lot of time and trouble. Remember, understanding and utilising small estate provisions can be a potent weapon in your arsenal to fight probate.

6. Estate Planning Lawyer

In the labyrinthine world of probate laws, an estate planning lawyer serves as an invaluable guide. Their proficiency in probate law makes them the ideal ally to navigate this complex landscape. These professionals are well-versed with every intricate detail of estate law, each loophole, and each strategy.

Engaging the services of an estate planning lawyer is like having a custom-designed blueprint for your estate’s journey past probate laws. They ensure that every minute detail is accounted for, thereby sparing you and your family from future headaches.

7. Beneficiary Designations on Retirement Accounts and Life Insurance Policies

Your retirement accounts and life insurance policies can be potent tools in your probate-avoiding strategy. These instruments come with built-in beneficiary designations that bypass probate.

Retirement Accounts and Life Insurance Policies: Unsung Heroes

For retirement accounts like IRAs or 401(k)s, you can designate beneficiaries who will inherit these directly upon your death. Similarly, life insurance policies offer a direct payout to named beneficiaries, free from the clutches of probate.

But remember, it’s crucial to keep your beneficiary designations current. Major life events can drastically alter your estate planning landscape. With a proactive approach, these financial tools can bolster your estate planning strategy, ensuring your assets transition smoothly to your loved ones.

Now You Know How To Avoid Probate

So, there we have it. Seven solid strategies to avoid probate.

Remember, a little planning now can save a whole heap of trouble later. Take control, explore these options, and keep your hard-earned assets right where they belong – in the family.

Because who wants to give more to the probate courts when you can leave more for those you care about? Get in touch with us today to find out more about how we can help.

You may not have been aware of this, but sixty-six percent of Americans have no estate plan in place. This is a glaring problem, as many people feel that estate planning is an important thing to do.

When you hire an estate planning lawyer, one of the first things they may suggest is to perform a title search on your house. This is a smart move, as problems can pop up with property titles all the time.

If you would like to know what issues you might see and how a lawyer can help with title problem resolutions, then all you need to do is keep reading.

Common Property Title Issues

The problems that can creep up with property titles can sound incredibly scary. Luckily, a good lawyer will be able to identify many of these problems via a title search and resolve them easily.

Below, we have identified a few of the most common issues with property titles. Don’t assume you are immune to any of these – your property could have a history that you know nothing about.

If you would like to avoid these common problems, then you should consider homeowner’s title insurance. This gives you an extra layer of protection in case any property title issues come up.

Liens

One of the biggest problems that you could encounter is liens. This is when an entity is given the right to keep possession of someone’s property until a debt is paid off.

There are three main types of liens– property, mechanics, and judgment. These liens can be placed for different purposes. It’s important to be aware of any liens you might have.

Each lien will prevent you from selling your home or transferring ownership until the debt has been paid. It also prevents the title from being transferred, which can complicate things when planning how your estate will be divided.

Lawsuits

If your property is on a condo, co-op, or part of a homeowner’s association, then legal actions against it are a common problem you might face. Legal actions can be anything from construction without the needed permits or a dispute against a board of homeowners.

A lawsuit isn’t necessarily a showstopper when it comes to arranging the things that you need to do, but it can make the process more complicated.

If you’re looking to make things easier on whatever process you’re completing, double-check to make sure no legal action is being brought against one of your properties.

Boundary Disputes

With any property, you’re bound to experience disagreements over where the property line actually lies and who a section of land belongs to. You’ll especially run into this issue if you’re trying to do something such as cut down a tree or build a fence.

Luckily, this issue is a fairly easy one to fix. All you need to do is order a boundary survey to determine where the property line is.

Even then, you may still run into a few boundary challenges. However, having a property survey will head off the worst possible problems.

Heirs and Wills

This is another situation that shows the importance of title insurance.

A title search might reveal heirs who were previously unknown or a new will that could make ownership of the house difficult. Sometimes the will didn’t make it through probate before then. Sometimes the heir misunderstood the deceased one’s wishes.

No matter what the circumstances are, that instantly complicates your situation. If you don’t have a homeowner’s title insurance policy, you’ll find yourself in the middle of a difficult legal battle.

Easements

An easement is a right to use, come onto, or cross a property that doesn’t belong to you. If you have an attorney do a title search, you might discover that the homeowner before you had an easement with someone else. Easements are typically found on your public title record.

Having an easement might make building on or otherwise changing your property difficult. It can also be difficult if you no longer want people to cross your land.

Another, slightly less common problem, is that you might need an easement for a neighbor’s property that had been foreclosed or otherwise extinguished.

Clerical Errors

Sometimes, despite all efforts to make sure things go smoothly, errors with the paperwork happen in one way or another. Humans make mistakes.

The clerical error can be any number of things. Many times, part of a deed’s documentation is simply missing. It could also be something such as the fee wasn’t paid, or the deed was recorded outside of the county.

You should consider having an owner’s policy and title insurance. Those two things will prevent serious financial damage. It’ll also ensure the legal costs of fixing up the mistakes are covered.

How an Attorney Can Help

When you hire an estate planning attorney, if they do suggest performing a title search, they will be able to review documents connected to the property. This will allow them to identify any issues connected to the title.

An attorney will likely be able to help you settle these issues, whether it’s finding a boundary line or re-filing the necessary paperwork.

Hiring an attorney to help you with your property is one of the best things you can do. They’ll save you time and effort to make sure you have a clean title.

Reach Out to Rhodes Law Firm

Now that you’ve learned all you need to know about property title issues and how attorneys can help you, you’re ready to make sure there are no issues with your own title.

Where better to find an attorney than Rhodes law firm? We’re experienced with all kinds of law from estate planning to planning for taking care of someone with special needs.

If you have any further questions or would like to schedule a consultation, simply reach out to us here.

Don’t wait- contact us today to make sure there are no issues with your property title!

67% of Americans do not have an estate plan in place, which can cause many problems for the loved ones they leave behind.

After a loved one has passed, plenty of complications fall behind to the grieving family. From planning out the final resting arrangements to figuring out how to divide the assets that have been left behind. Without a clear-cut plan, these complications can seem overwhelming.

When estate planning is in place, dealing with the aftermath can be a guided situation. Hiring an estate planning attorney is an asset during any loss. Several benefits come with having an estate planning attorney help with the legal process.

1. Estate Planning Is Their Specialty

Many families do not have any background in how to go about taking care of an estate. Figuring out how to handle dividing up assets and loose strings can set a family apart. Legal help can make this process run smoothly.

For many estate planning lawyers, this is their specialty. They know how to handle these situations, and they’re ready to help you and your family through this difficult time. Understanding the process comes easy for them, and they will take their time to guide you and your loved ones.

2. A Good Portion of Their Practice

Estate planning takes up a good part of their practice. They are familiar enough to talk you through the difficult points and the red tape that may seem overwhelming. The best lawyer is ready to begin handling those difficult situations right alongside you and your family.

Take into consideration how much of the lawyer’s practice is estate planning while you’re deciding which is the best fit for you. A lawyer that spends a good portion of their practice in estate planning will be more familiar with the processes in front of you.

3. Upfront Regarding Payments and Fees

Legal fees, when it comes to the death of a loved one, can be a hefty amount. With an estate planning lawyer by your side, those fees can be organized, carefully explained and paid. You know what you’re looking at and the breakdown of where those amounts come from.

Your lawyer will work with the family to show where the funds need to come from and why each of the charges is being made. Your family can be walked through all those bills and fees that may not have been taken into consideration prior.

4. Willing to Provide a Written Agreement

One of the best things about future planning and legal help is having an advisor to write everything down in detail and document it in the event that information needs to be referenced. Having a good lawyer involved means that they are willing to provide those documents as part of the services they provide. All that documentation is kept together and maintained for reference.

A great lawyer has everything, including any fees and prices sorted out and marked down as you continue through the estate process for your loved one.

5. Compassion for the Situation

Compassion is a big factor in making the decision to hire an estate lawyer. The best lawyer will understand and be able to meet you on your level of grief and understanding. Having compassion and understanding for a grieving family is part of the process when it comes to laying out any final plans and taking care of a loved one’s wishes.

A good lawyer will be able to validate your grief while also walking you through every part of how to handle tying up loose ends that need to be figured out in the estate process. Be sure to hire a lawyer that is willing to move at the pace of the family.

6. Allows the Family to Feel Validated and Comfortable

One of the areas that your legal representative should be able to fulfill is making you and the family feel comfortable with the process. Dealing with loss, or pending loss, is a situation that causes a lot of different emotions. Your lawyer will be able to walk you through those emotions and should be of comfort to you and your family.

If you don’t get the feeling of understanding and comfort, it means that the lawyer may not be the right one to take your case. You should always feel at ease and as if communication can go both ways with the legal proceedings.

7. Explaining Laws With Clarity and Understanding

Your lawyer will be able to break down any legal language that is hard for the family to understand. Going through and reading legal jargon can feel like an unknown language, especially for a grieving family. A good lawyer will walk you through the specifications with clarity.

There are years of experience under your lawyer’s belt when it comes to going through the future and estate planning process. They know how to break down the situations in ways you will better be able to understand.

Estate Planning Is Never an Easy Task

When it comes to dealing with the loss of a loved one, family members who are dealing with grief need someone who is going to assist with difficult situations. Estate planning, when assisted by a professional who understands the laws and is compassionate to the situation, is an asset. The difficulties that arise can be worked through.

If you are looking to take the steps in securing an estate plan or dealing with the loss of a loved one and need legal help, there is a great team waiting to assist you with your needs. Contact us today to begin the process of settling your loved one’s estate.

67% of people don’t have estate plans. Trust us, you don’t want to be one of these people. When a person has no estate plan, the government will decide what happens to their money and belongings.

What the government decides may or may not follow your wishes. And it could leave your family members without what they need. Or they may need to fight hard to get what they need.

Estate planning can save your surviving family members a lot of stress, time, and money. It can also give you peace of mind. Read on to learn how to tackle this challenge.

What Is Your Estate?

Your estate includes every last tangible asset you own. This can include your personal belongings. It also includes intangible assets such as patents, licenses, and copyrights.

When you die or can’t take care of yourself, these assets will need to go to someone. An estate plan will help you assign assets to different people.

What Is an Estate Plan?

Physically, an estate plan is a collection of legal documents. These documents outline what should happen should you die or can’t take care of yourself.

In the case of the former situation, the documents can outline what will happen to your assets. The guidelines usually explain who will get your assets. In some cases, you may want certain assets destroyed.

In the case of the latter situation, the documents will explain what kind of medical care you want. They will also say who will need to take care of the estate.

Who Needs an Estate Plan?

Everyone needs an estate plan. You may think that you’re too young or that your family will know what to do. Neither of these are true.

You’re Not Too Young

Death comes to everyone, no matter how young and/or healthy. If you have any kind of money or property or both, it needs to go to someone.

Plus, getting your affairs in order sooner than later can save you money. Some people may want to get a life insurance policy on top of their estate plan. It’s cheaper to get one of these in your 30s than in your 50s and 60s.

Your Family Can Act Erratically

You may think that you know your family well. They’ll just let your assets go to your spouse and/or children. Or they’ll follow your verbal instructions to donate all your assets to your favorite charity.

The problem is that people can act differently around money and property. They can fight with all their might to prove why your assets should go to them. Things can get very nasty.

It’s best for people to have legal instructions that they need to follow.

What Happens to Your Estate?

When you die or become unable to take care of yourself, your estate may go through a thorough a probate process. This is the process of verifying the legality of your will and ensuring your final wishes are carried out.

Probate Court

Even if you have a will, your estate will still go to probate court. If you have a will, the court involved with the process will use it as a guide. If you don’t have a will, the court will use local laws to decide how to distribute your assets.

The probate process should go by quickly if you have a small estate. However, if someone contests your will, the process can drag on for months.

Your Executor

If you don’t have a will, the probate court will appoint someone to handle your estate affairs. If you do have a will, you should have appointed a person as an executor. They will manage your tax bills, paying off debts you owe, and distributing assets.

People often ask a close relative to handle their affairs, but you can appoint anyone. Just make sure you have some backup executors as well. Nominated executors can decline their position.

Taxes

Your executor will take care of any taxes that your estate owes. If your estate earns an income, your executor will need to file an income tax return, deal with property taxes, etc.

If your estate is very wealthy, your executor will also need to deal with estate taxes. These are taxes that an executor must pay before distributing anything to your heirs.

If you have less than $12.92 million, you shouldn’t have to worry about an estate tax. But this exemption can be lower depending on the estate. Be sure to check up on your local laws.

Steps for Estate Planning

So how do you go about getting your affairs in order? Try following the steps below:

Make a List of Your Assets

Create an inventory of everything you own. This should include the following:

• Investments
• Bank accounts
• Real estate
• Digital assets
• Businesses
• Personal property
• Insurance policies
• Debts you owe

Make Your Estate Plan

Use the record of all your things to create an estate plan. Think of the beneficiaries you want to pass your assets along to. Think of back-up beneficiaries you want to give your assets to if your initial beneficiaries have predeceased you.

Using a professional to create your estate plan will make certain that your plan is 100% legal and bulletproof.

Execute the Plan

For many people, you may just need to sign a few documents. For others, you may need to sell property, change the names on titles, etc.

Keep Updating Your Plan

It is important to review your estate plan every few years to make sure your plan stays up-to-date with life events.

Estate Planning Assistance

The bottom line is that if you have assets, you need an estate plan. If you don’t, you will have no control over where all your assets will go. You owe yourself the peace of mind that comes with estate planning.

Do you need help with planning your estate? If so, consider using our services. We have helped citizens of the Augusta, GA and Aiken, SC, areas with lifetime and death planning for over 30 years.

Contact us today for more information.

Supplemental needs trusts are estate planning tools trustees use to pass down assets to children and relatives with special needs. They fall under the overarching category of special needs trusts (SNTs).

The benefit of a supplemental needs trust is that the inheritance of the person with special needs will not impact their disability benefits. Most public disability benefits programs place asset limits on beneficiaries.

If you have a child or relative with special needs, you want to ensure they are set up for the future. A supplemental needs trust can help. Get your questions about these unique estate planning tools in this guide.

Supplemental Needs Trust FAQs

Special needs trusts (SNTs) can be first- or third-party. First-party trusts are also known as self-settled trusts, meaning the disabled person owns the assets in the trust.

Third-party trusts are also called supplemental needs trusts. In this case, the asset owner is someone other than the beneficiary. The assets in the trust may come from parents, grandparents, or even the person’s life insurance policy.

Does a Special Needs Trust Affect Social Security Benefits?

No, as long as the trust’s assets are distributed according to social security regulations, an SNT will not affect social security benefits. SNT assets will not impact Medicaid benefits, either.

Special needs trust violations can result in the cancellation of a beneficiary’s social security and Medicaid benefits. That is why it is essential to hire a qualified and experienced attorney to draw up the trust terms.

What Is the Difference Between a Supplemental Needs Trust vs. a Special Needs Trust?

All supplemental needs trusts are special needs trusts, but not all special needs trusts are supplemental needs trusts. SNTs also include self-settled trusts.

The disabled person puts their own assets into a self-settled trust. Relatives of the disabled person (e.g., parents or grandparents) or the disabled person’s life insurance provider contribute assets to a supplemental needs trust.

What Can You Use a Supplemental Needs Trust For?

Disabled people can use supplemental needs trusts to pay for necessities. Necessities include rent, mortgages, personal care items, entertainment, transportation, and more.

How Much Should You Pay for a Supplemental Needs Estate Plan?

The cost of an estate plan depends on the attorney’s fee structure. Some lawyers charge hourly rates, while others charge a flat fee for their services.

It is important to ask lawyers about their payment structure during your initial consultation. We will talk more about the best questions to ask during your consultation next.

How to Find the Right Estate Planning Attorney

Now that you understand a bit more about special needs trusts, it is time to start looking for lawyers. It’s always a good idea to schedule consultations with multiple attorneys. That way, you can find the one who is right for you.

Here are the top questions to ask prospective attorneys during the consultation.

How Long Has the Attorney Practiced Probate, Trusts, and Estate Planning Law?

Experience is everything when it comes to attorneys. And this holds especially true when working with estate planning lawyers.

In addition to general experience with trusts, you want to ensure your attorney has worked on supplemental needs trusts in the past.

What Percentage of the Practice Is Devoted to Probate, Trusts, and Estate Planning Law?

You don’t want to hire a lawyer who focuses on criminal law if you need a special needs trust. Instead, only work with legal professionals whose primary focus is on estate planning and trusts.

Will the Attorney Provide a Written Fee Agreement?

A written fee agreement is an essential part of the attorney/client relationship. Fee agreements outline how much you will pay the attorney for their services.

Additionally, fee agreements help set expectations for both you and the lawyer. The agreement should detail the services you will receive in exchange for expenses charged.

Does the Attorney Require a Retainer?

A legal retainer is a flat fee some attorneys ask for upfront. This fee acts as a down payment for legal services. After the retainer, your estate planning lawyer will bill you at an hourly rate.

All of these details should be outlined in the written fee agreement. He or she should also provide an itemized record of hours billed and work done.

Is the Attorney Knowledgeable and Interested?

Contrary to the legal dramas we watch on TV, most lawyers can not recite laws off the top of their heads. However, your lawyer should be able to answer basic questions about estate planning law without looking them up.

Additionally, a good attorney should seem interested in your case. If a lawyer seems distracted or dismissive during your first consultation, it is probably best to look elsewhere.

Does the Attorney’s Manner Put You at Ease?

Many people find lawyers intimidating. But you should never feel intimidated by the lawyer you choose to execute your trust. You may not want to ask questions or share personal details if you feel ill at ease with your lawyer.

That is why it is critical to choose a lawyer who makes you feel comfortable. No matter how complicated or personal the conversation gets, you should feel like you are talking to a trusted friend.

Does the Attorney Explain Estate Planning Laws Clearly?

Estate plans, trusts, and probates have complex laws surrounding them. It can be difficult for a layperson to understand these laws. This is where your lawyer should step in.

Your attorney should clearly and patiently explain the answers to all your questions. If you feel like an attorney brushes you off or leaves you feeling confused, this could be a red flag.

Need a Special Needs Trust Attorney in Augusta?

A supplemental needs trust can ensure disabled beneficiaries do not lose disability benefits when they inherit assets. The right estate planning lawyer can help you set up an airtight special needs trust for your loved one(s).

Are you looking for an estate planning attorney with expertise in executing special needs trusts? Rhodes Law Firm has the experienced lawyers you need in Augusta, GA. Contact us today to schedule a consultation.

A recent survey showed that only 33% of US adults have an estate plan in place. Many people put this off believing that they are too young to have one or don’t have enough assets.

The reality is that estate planning is something that everyone needs to consider. Even those who are in their 20s need to start considering what their estate plan should include.

There are many different kinds of trust options that you also need to understand. Every legal adult should take time to create this plan in case something happens to them.

Keep reading to find out more about estate planning and when you should begin.

When Is Estate Planning Necessary?

The majority of financial advisors recommend that people begin estate planning once they are legal adults. This is due to the fact that you are now legally responsible for everything that you own.

You may not think that estate planning is important because you don’t have many valuable assets. But the reality is that these assets have to be distributed no matter how many there are.

If you own a savings account, this needs to be included in your estate plan. If you were to pass away, you need someone designated who will take over this account.

If you have some kind of inheritance money or other assets, this is also important. People should also start estate planning if they are married, divorced, or getting remarried.

This is also something that you should consider if you travel often since something could happen to you. You want to have your state plan in order so that your family knows how to proceed.

Who Should Start Estate Planning?

Everyone should have a living trust prepared for when they pass away. No matter how old you are, this is important since you do have assets that have to be taken care of.

Those who are in their 20s should have a power of attorney already set up. They should also include a healthcare directive in case something were to happen to you.

It is also a good idea to have a well in place since you may have an accumulation of money or items of value. For those in their 30s, you will want to have all of these things as well as a trust.

A trust protects your assets from probate courts, making it easier for your beneficiaries. Ideally, by 30, you should already have all of your estate planning documents in place.

There aren’t many that are necessary, so there is no reason to delay this process. If you do not have your state plan in place by 50, you definitely want to get everything together.

What is a Will?

If you are going to create a will, this is something that you should do as soon as possible. It will help by leaving instructions for your loved ones once you have passed.

A will has instructions and will designate a power of attorney so that your family knows what to do. Many people pass away without a will leaving their families in the dark about their last wishes.

This is completely preventable since a Will is very easy to create for the future.

What is a Trust?

A trust is another important document that includes property or other investments. This controls how your assets will be distributed if you become incapacitated or pass away.

This can help your family to avoid probate as well as family squabbles. This is important whether you have a lot of assets or just a few that need to be distributed.

Should You Update Your Estate Plan?

Something that many people forget about is updating their estate plans. You may think that you create these documents and you can forget about them, but that isn’t always the case.

There are instances where you may want to go back and update certain documents. These are usually considered to be triggers or milestones throughout your life.

This could be anything from winning the lottery to inheriting valuable assets. Anything that increases your wealth should automatically lead to you updating your estate plan for the future.

Most experts recommend revisiting your estate plan every 3 to 5 years. A lot can change in a few years, so doing this will refresh your memory of what you need to update.

Hiring Someone to Help With Your Estate Plan

If you are getting your estate plan in place, you may wonder if you should hire someone. It is a good idea to hire an attorney who has experience in estate planning and other legal plans.

This could include anything from special-needs planning to charitable planning. There are many life occurrences where you may want a plan in case something happens.

Not everyone needs to hire an attorney to help them do this, it just depends on the situation. For the most part, the majority of people should consider this to make life easier.

It can be hard to know what you need between wills, trusts, and property transfer documents. It can be confusing, and everything needs to be done legally.

Having an attorney on your side can make this process easier and faster. They can handle the legal side to ensure that all of your documents have authority.

The Right Time to Prepare Your Estate Plan

If you have not created your estate plan yet, now is the time. Estate planning can be done at any time and ensures that your assets will be distributed correctly once you are gone.

Do you want to hire an attorney to help you with these documents? Contact us today at Rhodes Law Firm to talk to one of our attorneys.

Did you know there are several types of power of attorney? Well, if that’s news to you, it may be surprising to learn that one of the most common types of POA is a durable power of attorney. But what does that mean exactly?

A durable power of attorney is a legal document that gives another person the authority to act on your behalf in the event that you are no longer able to do so. This could be due to incapacity or illness. The person who is granted this authority is known as your “attorney-in-fact” or “agent.”

Having a durable power of attorney is an important part of your estate planning. You may choose to appoint a close family member, such as a spouse or child, as your attorney-in-fact, but this is not always the best decision.

In some cases, it may be better to appoint a professional, such as an attorney or financial advisor. This is especially true if the individual you are appointing will have significant responsibilities, such as managing your finances or making healthcare decisions on your behalf.

While the idea of giving someone else power over your life may seem daunting, there are many benefits to having a durable power of attorney in place. Read on to learn more.

Durable Power of Attorney Benefits

There are many benefits to appointing a durable power of attorney. For starters, a durable POA can provide peace of mind. They can help avoid family conflict and expense delays in probate court. A durable power of attorney also gives you access to someone who will make the decisions you would make.

Peace of Mind

One of the main benefits of a durable power of attorney is the peace of mind it gives. You can rest assured that your affairs will be handled per your wishes if you cannot do so.

If you cannot communicate your wishes, or if you want someone else to make medical decisions on your behalf, a DPOA can help ensure that happens. You can also include instructions in your DPOA about what kind of treatment you want in case you become incapacitated and cannot communicate your desires.

The person you designate as your agent can manage your finances too. If you don’t have another trusted person in place who can assist with this important task, a DPOA makes it possible for someone else to handle financial matters on your behalf, including paying bills, filing taxes and more.

You may not need these powers at once but still want them available when needed. Unlike regular powers of attorney, which must be filed with the court and recorded with the Secretary of State’s office before they have any effect, durable powers do not need to be filed. This makes a Durable POA a great option if you want flexibility and peace of mind.

It helps Avoid Family Conflicts

Another benefit of having a durable POA is avoiding potential conflict among family members or friends who may disagree about handling your affairs.

Your loved ones need to know who can make decisions for you. This type of power of attorney gives them the authority to make those decisions without going through probate court.

In addition, if there’s any doubt about what you want to be done, this type of power of attorney can prevent family members from fighting over your wishes and making things worse than they already are by prolonging the process until a judge decides for them.

Avoid Delays in Probate Court

When considering a durable power of attorney, you want to think about probate court. They can help avoid the expense and delay of probate court proceedings in the event that you become incapacitated.

Although most people say that money isn’t important when it comes to their loved one’s well-being, it can be difficult for them when they have no idea how much money is available or how much money needs to be spent each month on bills and other expenses.

Someone You Can Trust

One last benefit of a durable power of attorney is ensuring that someone you trust will make decisions on your behalf. The alternative is having a court-appointed conservator, which you may not want.

When choosing an attorney-in-fact, it is important to select someone you trust. You want someone with the necessary skills to handle the responsibilities you assign. You should also have a backup plan in case your first choice is unable or unwilling to serve.

How to Find a Durable Power of Attorney

There are a few key steps to take to find the right durable power of attorney for you. First, find an attorney who specializes in estate planning. They will have the knowledge that you need to help you make the best decisions for you and your family.

You also want to find out how much it will cost and how long it will take to complete the paperwork. Lastly, it is essential to read over the documents carefully and make sure they are correct and accurate before signing them.

It is a good idea to look at the reviews and reputation of a durable power of attorney before finalizing your decision. For example, Rhodes Law Firm has an outstanding rating when it comes to its power of attorney services.

Need a Trusted, Durable Power of Attorney?

A durable power of attorney can be a valuable tool in estate planning. By appointing an attorney-in-fact, you can ensure that your affairs will be handled if you become incapacitated. This can provide peace of mind for you and your loved ones and avoid potential conflict among family members or friends.

If you’re looking for a trusted, durable power of attorney that you can depend on, we’re here to help. We’ve helped numerous families with their estate planning, and we can do the same for you. Contact our dedicated team of attorneys to get started today!