A person passing away can leave behind a series of complicated legal and financial matters that will need to be addressed. The process of preparing to settle these matters can be a task that you may want your survivors to avoid the need to manage. To this end, you will want to be informed about the process of preparing your final wishes and plans.
Is It Necessary For A Will To Go Through The Probate Court System?
Individuals are often surprised to learn that their will must go through the probate court system before it will take effect. This is a rather lengthy process, but it is necessary for those that are using a standard will to settle these matters. During the process of going through the probate courts, it will be necessary for the death certificate to be validated and the executor of the estate to be appointed along with paying any creditors that have priority. While it is necessary for a standard will to go through the probate courts, it is possible to avoid this need by opting for a living trust or estate as these are technically separate entities that will continue after a person's passing.
Are There Potential Issues With Using An Online Legal Document Service To Complete Your Will Or Estate Plan?
There are many different online services that can provide individuals with the various documents that are needed to create wills, from estates and establish trusts. Often, a concern about the costs or inconveniences of hiring a lawyer will cause individuals to make this choice. Yet, there can be many mistakes that individuals can be prone to making when using these services. Sadly, mistakes with these documents may not be discovered until after you have passed, and this may create serious complications. By retaining an attorney, you can have confidence that your final affairs are completed correctly.
When Should You Update Your Estate Plan?
The process of ensuring that your final affairs are in order is an ongoing process as the circumstances of your life are likely to undergo drastic changes over the course of time. This will result in you needing to periodically review and update your final plans so that they reflect your true wishes and current situation. In addition to reviewing this document every couple of years, you should also perform this type of update after major purchases, income from liquidating assets or the accumulation of sizable new debts. If you are working with an attorney to perform these updates, the entire process can be completed fairly quickly so that you can minimize the impacts to your normal routine.
Check out a website like http://www.rmstoneattorney.com for more information and assistance.
Share