Attorneys who have practiced in the probate administration and estate planning fields have heard almost every excuse imaginable as to why people do not take time to make an estate plan. Although some of these reasons are somewhat legitimate, others are completely erroneous.
Click Here for a few of the questions lawyers hear from clients.
“There Aren’t Enough Assets to Worry About; Can’t Probate be Skipped?”
Depending on how a client’s assets are titled, they may be able to get by without formal opening of an estate, but most people should not risk it. Probate is more complicated in some jurisdictions than in others, but the process is relatively straightforward if the will is properly executed with the help of a Probate Law Service in Reno NV.
“Can’t Estate Planning be Done With Online Forms?”
In today’s world, information is just a Google search away. It is possible for a client to cobble together an estate plan, but doing so typically isn’t a wise decision. The probate code is full of pitfalls that can trap even an experienced lawyer, and every jurisdiction has different rules. A local lawyer familiar with the rules can effectively create a plan that meets a client’s estate planning requirements.
“Does Everything Have to be Included?”
Failing to consider the entire estate can be a significant mistake. It is important for clients to account for all of their assets, and to understand how, when and where those assets will pass to beneficiaries. Clients in this situation should talk to an estate planning lawyer for effective legal advice.
“Nothing is Going to Happen. Why Should I Plan for Incapacity?”
This isn’t a pleasant area for most people to discuss, but there’s a chance that a client or family member may become incapacitated. If this isn’t accounted for in an estate plan, children and heirs may have to initiate guardianship proceedings to act on the individual’s behalf. A solid estate plan will allow a child or other heir to act in the event of an incapacitating injury or illness.
These are just some of the questions clients ask in attempting to get out of planning an estate. Making these assumptions can be dangerous, and everyone should have an estate plan regardless of how many assets they have. Consult a Probate Law Service in Reno NV for help putting together a plan that suits the client’s and family’s needs.