Tag Archives for probate lawyer

What is Estate Planning? Why is it Important?

Estate planning consists not only of making arrangements for your assets, but also involves such methods as assigning powers of appointment and powers of attorney. Granting someone power of appointment entitles that person to decide how your assets will be divided. 

You may grant unrestricted access to the distribution of all your assets (this is referred to as the general power of appointment), or you can assign decision-making power for only certain assets (this is called the special power of appointment). You may also take help of an estate planning lawyer via http://www.voyantlegal.com/ogden-estate-planning-attorney.html.

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Power of attorney entitles a person to make legal and/or medical decisions on your behalf when you are unable to do so. As with power of appointment, this person may be assigned power in only certain situations and in regards to specific matters, or they may be granted full power in any given situation or at any time.

As you can see, estate planning is every bit as relevant to your own life as it is to the lives of the people around you. Having an experienced estate lawyer in Houston to guide and inform you through the process will significantly impact how accurately your most critical interests are represented.

What are the Benefits of Having a Will?

Wills and trusts may very well be legal documents that go with each other. A Trust can be used for planning purposes and serves to dictate how property and valuables will be distributed, with the Will being utilized to pay any property or assets that aren't contained in just a Trust.You may navigate to frabizziolaw.com/radnor-probate-attorney/ to hire a lawyer to create a will.

Having a will is an important part of estate planning overall. While some people may think having a will in place is frivolous, there are a number of benefits to having this document prepared:

Having a will gives you the ability to decide who will receive specific assets when you pass away. For those individuals with children, it can also include who will have custody of the children should something happen to you while they are still considered minors.

A will can outline who will be appointed executor of your estate when you pass.

Drafting a will can give you peace of mind that the planning of your final affairs is already set and grieving loved ones do not have to struggle by making difficult decisions.

Wills and Trusts should be up to date concerning indicate changes within regulations regularly. This small step is an essential requirement of protecting these documents from being disputed down the road.