If you are looking to create an estate plan, you must engage a legal professional. Estate planning involves a lot of steps and must address several aspects of an estate. Engaging the services of the Trust law firm Litvack Dessureault LLP is important to make sure the legality of a living trust. Keep reading to know why you should hire an attorney when having a living trust:
Determine How to Best Achieve Estate Planning Goals
Estate planning solutions are customised to your specific estate need. Also, it depends on your goals and priorities. Sometimes, it involves a trust and a will and other times it involves other types of estate planning documentation. A lawyer can talk to you and help you determine the best solution to achieve each of your estate planning goals, whether you need a trust, a living will, or a power of attorney.
Establish Your Living Trust
Setting up a trust involves complicated work. A reliable attorney can help you set up the trust, making sure it is legally compliant. Also, they can help you fund the trust and give you advice on how to reduce your tax burden. Doing all of these on your own is unwise as even a single mistake in the living trust can make the trust or your estate legally invalid.
Choose a Trustee
When you make a living will, you must appoint an individual who will serve as the trustee. The trustee monitors and manages the trust’s funds. The person should be honest and responsible. Your lawyer can advise on a trustee’s specific responsibilities, recommend viable options, or serve as the trustee.
Explain Estate Planning Documents
As you think about your estate planning options, you may have to entertain some questions. You need to have a reliable legal expert who can provide you with strategic clarity. This is where your living wills lawyer can be helpful to you.
Ensure Your Estate Plan is Up to Date
When it comes to estate planning, you cannot just set it and forget it as you want. You must review your plan every year and amend it following any major life change. Your living will lawyer can help you keep your plan up to date and ensure the plan is aligned with your desires.
As you take into account your needs for a living will, living trust, or an estate plan, you must reach out to a reputable firm right away. Work with a firm that is devoted to helping you plan for the future.