Creating your estate plan is a big first step in protecting your assets and your loved ones. But that plan will only do some good if it’s kept up-to-date and your family knows where to find it. Here’s a few tips to ensure that your estate plan is always working for you: Revocable Living TrustWith a Revocable Living Trust, you transfer the title of any of your assets (such as a house) from yourself as an individual, to yourself as Trustee of the Trust. Then you, as the Trustee of the Trust, manage the assets of the Trust for the benefit of the beneficiary, which is you. In this manner, you keep complete control over the assets. Once you pass on, a Successor Trustee takes over the management of the assets for the benefit of the beneficiaries that you named in your Trust. Your assets do not have to pass through Probate because the assets are no longer titled in your name as an individual, but are now titled in the name of the trust. Upon your death, the Successor Trustee simply transfers your assets directly to your beneficiaries without the need for court or attorney’s fees or costs. With a Revocable Living Trust you keep complete control over your assets and ensure that your assets are passed to your designated beneficiaries without delay or unnecessary costs. Why Use A Revocable Living Trust As Part Of Your Estate Planning Strategy? How to Find a Reliable Estate Planning LawyerLooking for a reliable lawyer to help you with estate planning may not be too easy nowadays. Thankfully, you can always tap different resources to be able to avail of professional legal assistance. Here are some ideas you can try in case you are having a hard time with the task of contacting an attorney. To begin with, one of the most effective ways to find a good lawyer is to ask friends, colleagues or relatives about it. Talk with those you know and ask them to describe their entire experience. You will be able to find out the pros and cons of certain options by doing this. Most people are definitely willing not only to recommend specific lawyers but to give you any warning about some attorneys. If you have a financial advisor, then that means you have another useful source of relevant information. Advisors usually have the contact details of good lawyers in your area and so you might want to refer to their list. While on the subject of financial advisors, you also have to know that speaking with them about your estate planning is a good idea. Such a plan is often considered as a crucial part of an individual’s financial stability. Another idea is to ask accountants for recommendations. Besides, it is a fact that many estate planning attorneys rely on accountants when it comes to trust and income tax matters. This only means that an accountant probably knows more than a few lawyers in your area. Also, feel free to contact other lawyers you have worked with in the past for their suggestions. For example, you may have worked with a legal professional while buying a home or acquiring a property. Chances are high that they personally know someone who specializes in the field and you can take advantage of that. You may also try doing searches on your own by utilizing the internet. You can check out official websites of different law firms and see if they offer estate planning services. What’s great about accessing such sites is that you will also get the chance to view the profiles of the lawyers along with information regarding their rates. This provides you with a good overview of what to expect when you finally begin working with a lawyer. In no time, you will be able to find an excellent estate planning lawyer that will help you with your needs. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
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