Death is an event no person looks forward to, but it is a day that is inevitable for every person walking the Earth. Given this information, it's critical that each person ensure their family is left in a position where they can focus on grieving and not worrying about sorting through paperwork and other information for the deceased. If you have not taken the time to ensure your estate affairs are in order, learn how an attorney can aid you in protecting your family.
An attorney can help you prepare documents that detail your last will. Within this document, you can include information about how you would like your assets to be delivered, as well as information about any arrangements you want to have, including where you want your ceremony to be.
Without this document, your family may not know this information. If you have any property to pass on, a lack of a will could make the process of collecting this property a lengthy and costly process for your loved ones.
Life Insurance Collection
In addition to providing instructions on how you want your assets divided, an estate attorney will also maintain a list of all your assets, including your life insurance policy. After your passing, instead of your family having to research to try and determine who you held your policy with, the attorney will have all the information they need.
Having this information on hand can make the collection process much less stressful and help ensure your family gains access to any financial assistance they need sooner.
When a deceased person passes down property or cash assets to someone else, this does not always fall under the scope of a gift by the IRS. In some instances, a person is required to pay taxes on the property they receive. For someone grieving the death of their loved one, a discovery that they also have to pay a bill for the property is a double blow.
When you partner with an attorney now, the attorney can formulate what tax penalties will be owed, if any, and make preparations to ensure your estate is equipped to cover this amount so that your loved one doesn't have to worry about it.
In passing, you want your family to focus on remembering you and embracing one another; you don't want them to stress. Ensure you're partnering with an attorney to ensure your family is okay. For more information, contact a lawyer like David R Webb Attorney.Share
8 May 2018
Although I am far from perfect, I have focused on abiding by the local laws for the vast majority of my life. Unfortunately, about five years ago, I realized that I was being accused of a crime that I didn't commit. I thought about letting the trial run its course, but then I realized that fighting would be important to ensure my future. I teamed up with a great lawyer, and things became much easier overnight. My legal counsel told me what to do and what to avoid, and he was able to prove the facts in a court of law. This blog is all about choosing to fight charges.