Estate planning lawyers’ help you mostly in creating wills, trusts, power of attorney and other important estate planning documents. Estate is considered to be the net worth of any person. There are a variety of estate planning attorneys such as Barr & young attorneys that you can get in touch with.
So, all the planning that takes places related to the estate of a person is done by an estate planning lawyer. Assets are the net worth of a person after paying off the liabilities.
The major role of estate planning attorneys is to make sure that the planning of the estate is created and remains valid, too, keeping in view the current state laws.
Who needs estate planning?
Estate planning is needed by all the persons who want to supervise their net worthwhile they are alive, and after their death as well. It is very important to conduct estate planning through in order to ensure the protection of the estate of a person.
For every person, it is one of the major steps to ensure the protection of their assets during their lifetime and after their death. So, a will is created in order to distribute the assets among the people mentioned in the will.
Before and after death
Estate planning attorneys help you in creating a trust, healthcare proxy and a power of attorney in order to ensure that you are protected while you are alive. Then, the similar estate planning attorney will let you create a will in order to make your family protected after you pass away.
What is a power of attorney?
A power of attorney is a legal document. It is a very important document that gives authority to any other person to handle your financial tasks. There are two types of power of attorneys. One is known as a general power of attorney that gives the other person an instant control.
While the other form of power of attorney is known as springing power of attorney that will provide control to the other person just as you lose your mental or physical ability to handle the financial issues.
What is the last will?
Last will is a document that suggests that certain assets have been handed over to your specific family members or guardians after you die.