An estate planning attorney is also known as upon in many instances to assist anyone with authority of attorney to control the estate of a recently dead person through the procedure of estate court. In reality, a good estate planning attorney might be able to prevent the probate court from taking over the situation, but again that largely rests on the type of properties in the deceased’s estate and how they were developed prior to death. The fact is that most people who pass away do not really leave any wealth or property behind for their family and loved ones to obtain and hold, which means that most families are left out in the cold when it comes to finding and retaining some of the deceased’s property and wealth. Our website provides info on Thomas-Walters, PLLC, Chapel Hill
An estate planning attorney is one who will draft and execute a person’s will, which is also known as a last will and testament. This legal document is designed to state who exactly owns assets, what those assets can be used for, and who they should be distributed to. When it comes to the actual implementation of the will, an estate planning attorney would use his/her skills as a lawyer to draw up any legal documents necessary to accomplish the wishes expressed in the will. That includes preparing the legal documents for a will, including incorporating beneficiaries, executing the will, and filling out any forms that are required by probate courts. Also, an estate planning attorney might be asked to review any state intestacy laws that might affect the distribution of a person’s assets.
There are several types of legal documents that are involved in estate planning, and the first type is revocable living trusts. Revocable living trusts are intended to be “indestructible,” meaning that once they are executed they cannot be changed or amended in any way. Most often, this type of trust is used for family estates, though anyone can use it. Any property that is part of a revocable living trust is not included in the estate when the person dies, meaning that any beneficiaries will receive their share of the assets following the death of the testator. However, if the testator had specified specific conditions on when he/she would die, such as requiring a specific medical condition before signing the trust, the executor must make sure those conditions are met, or the trust will be considered invalid.
1777 Fordham Blvd. Suite 101, Chapel Hill, North Carolina 27514