When a person dies, there can be a seemingly countless number of things that will have to be done to settle their final affairs. To this end, an estate planning attorney can help you to handle these challenges. However, there are many people that may not have seriously considered using the services of these legal professionals. If this applies to you, then the following two answers to common questions will help you to decide on using these services.
How Can An Estate Planning Attorney Help Your Plan For A Death?
There are many different ways that an estate planning attorney can help you to plan for this event. Many people underestimate the number of legal affairs that will have to be handled. A perfect example of this is deciding on the assets that you will leave your loved ones. If you have existing debt, it is possible for your creditors to seize your assets to handle these debts.
One of the best ways of handling these matters is to take out life insurance policies and designate this money to paying off existing creditors. You can take out numerous life insurance policies. When you pass away, this money is placed into a trust where it is used to pay off these debts so that your loved ones will not have to deal with them.
Is It Legal To Remove Someone From Your Will?
It is not uncommon for family members to get into disagreements, and when this become severe, you may want to take them out of your will. Unfortunately, there are many people that think there are strict legal limitations on doing this. However, this is far from the truth, and you are allowed to adjust your will at any point in time.
Yet, you should be aware that an angry family member could sue after your death to be put back into the will. To mitigate this from happening, you will need to prove that you were of sound mental health at the time you made the adjustments to your will. The requirements for this vary from state to state, but your estate planning attorney should be able to provide you with better guidance.
Preparing for a death is a traumatic and emotional task that everyone will have to go through at some point during their lives. By understanding these two basic questions about preparing an estate plan, you can ensure that you have the information you need to make the best decision possible.
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