It’s a subject no one wants to talk about, but it’s important to have in place what will happen to your things should you pass away. This is called estate planning. However, as uncomfortable as it is, you will save your loved ones a lot of hassle and burdens when it comes to distributing your possessions after you’re gone.
What Is Involved in Estate Planning?
Your estate planning lawyer in Bremerton, WA can help you navigate through the process of having the details of your estate in order. Probate is the legal process by which property is transferred to the designated beneficiaries. A trust is an arrangement in which a person is designated to hold onto the property, and, at the appropriate time, it will be distributed to the designated heirs. An estate planning lawyer can help you decide if a trust is beneficial for you.
There are two types of living trusts. The first is an irrevocable trust in which once the trust is in place, it cannot be amended or changed in any way. This is a permanent trust. The second type of living trust is called a revocable trust. This one is more popular because it can be amended and changed as long as the person who made the trust is still living. Talk with your estate planning lawyer about which one is right for you.
Importance of Estate Planning
Of course, you can tell someone what your wishes are, but that’s not legal, and it won’t hold up in a court if there’s a dispute when it comes time to carry out your wishes. Working with an attorney to legalize your estate is extremely important. This will greatly help your loved ones when it comes time to distribute property and assets. Check out website.com for more information about estate planning. You can also visit them on Facebook.