Estate planning involves the execution of legally binding documents as we all know. However, there is also a human factor to take into consideration.
When you pass away the documents that you executed are not going to do a thing until someone sets the wheels into motion. If you use a last will to state your final wishes the executor will be charged with the hands-on tasks involved in administering the estate.
People who use trusts must consider the matter of trust administration. Someone must make sure that the terms of the trust are carried out, and this individual or entity will be the trustee that you appoint when you create the trust.
The probate process takes place under the supervision of the probate court. Therefore, the executor is usually going to require the assistance of a probate attorney to navigate this process.
If you have executed a trust to arrange for the distribution of your assets after your passing your family would do well to work with a good trust attorney to make sure that the trust is administered properly.
Estate planning should be looked at in a holistic manner. Yes, you do want to execute the appropriate legally binding instruments to arrange for future asset transfers. But at the same time you must take steps to have the human element in place.
You can make arrangements with the attorney that draws up your estate planning documents in advance. He or she can act as probate lawyer or trust attorney after your passing, and you will be creating a turnkey situation for the family members that you will be leaving behind.
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