Legal Documents And Your Estate Plan

Thinking about an estate plan? Have you heard the advantages of a living trust verses a will? If you do not have an estate plan in place the government has one for you. If you die without a will or living trust, your heirs will receive your estate after the probate process. This is not a good choice given the time and cost factors involved in probate. So you may have heard someone tell you to go online and find the legal documents to create your own estate plan.

You have probably heard of a living trust. You perhaps receive direct mail from attorneys promoting their estate planning seminars. Today those estate planning lawyers compete with websites offering estate planning kits in a box for under one hundred dollars. Why pay seven hundred and fifty dollars to have a lawyer do what in can do for under a hundred some say as they click the submit to order button.

Probate can take from six months to in some cases two years to complete. There are legal fees involved and also court costs. And realize that even if you have a will your estate will have to go through the probate process. So your best plan is to prepare a living trust.

Reconsider going online to save money on an estate plan. Your heirs will thank you it is time to claim the part of your estate you want them to receive.

If you needed heart surgery would you go to the book store and buy on self surgery with a scalpel included on the back page? No. You would hire a medical professional to perform the surgery. So too you need to hire a legal professional to prepare your living trust.

Living trusts seem easy to create and yes if you take a look at the instructions and the legal forms all is laid out for you to do it yourself.

However, there are so many details that people leave out of their plan that when the time comes for the designated beneficiaries to take possession of the estate the court has to step in and clear up the mess.

Funding a living trust is not difficult. But it is part of the living trust preparation you want to make sure is handled the right way.

The same holds true for most of the legal work you need to have done on your behalf. When it comes to legal documents, at least as far as legal trust is concerned, seek the legal professional for help.

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Published by: Elizabeth Altomare on October 30th, 2009 | Filed under Legal



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