You may be wondering about what a will and estate lawyer does. You may also have heard this type of attorney just now. Primarily, a will and estate lawyer creates, administers, and terminates wills or trusts, as well as plans properly for, distributes, and protects the assets of an individual after their death in order to maximize the benefits their client’s recipients receive.
When a client seeks their services
Primarily, when a client comes into the office of a will and estate lawyer’s office, he/she will come up with a plan of what the client really needs. By this, the lawyer will need pertinent information with regard to the family and financial status of the client.
What is the information needed by a will and estate lawyer from his/her client? Let us go over some of the information this lawyer wants:
• Is the client married?
• Does the client have any children? If yes, how many children?
• Are the children younger or older?
• Do the children have any physical or mental incapacity issues?
• What is the working background of the client?
• What is the yearly income of the client?
• Does the client personally own a house?
• Does the client own multiple retirement funds or bank accounts?
• Does the client have other investments?
Basically, this lawyer will prepare a questionnaire to be filled out by the client. It includes all important questions for the client, which are significant for the process.
The Last Will and Testament
One of the documents worked on by a will and estate lawyer is the client’s last will and testament. This document specifies the details of who accedes to the properties of the client once he/she dies. This also states who will take in charge of distributing the assets pursuant to the will’s terms. This person is also referred as the will executor.
In addition to this, the last will and testament may enclose a testamentary trust. This is a trust that is not formed until after the death of the client and the will also educates the executor to form the trust. Generally, this type of trust is used for beneficiaries or recipients who are still minors or for those who have special needs such as handicaps.
If you choose not to seek the services of a will and estate lawyer and you die without creating your will, then the assets of the estate are disseminated pursuant to the state’s law where the client died. It is always better to be ready.
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