Guide: The Purpose of a Living Trust Lawyer
Putting together your own legal documents sounds like a good idea. Your assets get the protection you want and you’re saving money.
But what if putting together your own living trust didn’t accomplish either of those things? Would you consider it a waste of time?
Most folks would, and take action to prevent a mistake like that from occurring. This is where having a living trust lawyer comes in.
Here is what you should know about hiring one, and why creating your own living trust isn’t the best idea.
A Living Trust Lawyer Helps for Certain Situations
Although many people draft up a living trust without the help of a lawyer, there are instances where it’s better to have one. In cases that are out of the ordinary, family members or other individuals have a better chance of contesting something and winning it in court.
If including certain people in your will is against your last wishes, using a lawyer is the best option to keep everything in place.
Instances, where you’ll benefit from having a lawyer draw up your living, will are:
- Skipping generations
- Applying conditions to those who benefit
- You need help assigning someone in charge of your trust funds
These plans are complex and deserve the assistance of a professional. When in doubt, talk with a lawyer about your wishes and plans, and how the will could hold up if taken to court.
It’s Good to Include a Lawyer When Using Another Trustee
When assigning a trustee to manage certain accounts or properties after you pass, having a lawyer is important.
A trustee is used when something is willed to a young person. The young person often does not get their inheritance until they turn a certain age, or do something else, such as graduate college or get married.
A trustee also called a successor, manages trusts for the individual who passed away. If you’re concerned about family members fight over who is a successor, let a lawyer help you through this situation and avoid further conflict.
If You’re Overwhelmed, Have a Lawyer Help
It’s easy to get overwhelmed when planning a will. The last thing you want is to pass away without a will in place.
If you’re planning for the end of life or you’re in a situation where it’s important to get everything squared away quickly, don’t forget this important aspect of end-of-life planning.
A will includes everything from:
- How you want your burial
- How assets get divided
- If you have specific wishes for certain people to get an item
- How proceeds of your land or property gets split when sold, or if it gets passed down to someone else
The lawyer can speak with you about other areas of your will that you haven’t accounted for and tie up loose ends.
If you’re confused or unsure about how to draw up a will, don’t try to figure everything out on your own. Rather than take a risk, contact us.
Have a living trust lawyer contact you today. You’ll have peace of mind and feel comfortable knowing everything gets taken care of.