Study: My Understanding of Planning

Various Benefits Of Involving an Experienced Attorney When Drafting Wills

There are very many people out there who are still asking if they should have a will. If you are one of them, the answer is certainly yes; you should have a well-drafted will. They forget that lack of a will can leave their family with little or no authority to deal with their assets. One may think it is just fixed assets such as estates which require a written will, but even the small bank account and personal possessions require an application to the court for the appointment of the trustee for them to be transferred legally.

Factoring in this, there are reasons why you need services of a qualified attorney whenever you are drafting your will. To start with, an attorney is well versed with various legal approaches used to draft will and to plan estate. He is skilled in offering advice required to avoid unnecessary probate fees, postpone the distribution of assets beyond the majority age, and establish trust funds for the minors and so on If this is done by someone who is not an expert; the entire will may be full of errors making the entire plan to fail. A perfect example is a will to postpone estate distribution at 21 years and above; this requires very carefully worded clauses. If this is not perfectly worded, it can lead to the assets being distribut5ed at 18 regardless of the stipulations of the will. You may also fail to take into account provisions of the insurance policy as well as RRSPs. What about using the available will kits to come up with your will? This is one of the ways which one may argue can use. It is true that one can use these will kit but it is technically difficult for the will kit to cover all your intentions. Remember, situations differ from one person to another and therefore, you need a qualified draftsman to fully and professionally draft your intention; the attorney has the right skills to get sufficient information to draft a will which suits your situation. It is common for almost every client to be amazed at the end of conversation with the attorney; they get amazed of various options which are at their disposal most of which they never knew of before.

The attorney is also very well versed in the new estate rules. For instance, not all cases require probate like in the case where the direct beneficiary is named directly. Conclusively , it is evident with good guidance from the attorney, you will have very good planning on how you will draft your will.

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