The Importance Of Estate Planning Solicitor

An estate planning solicitor is an expert who deals with affairs that concern the transfer of property to be executed upon the death of a person. An estate planning lawyer helps to protect the future of one’s family, to plan for the care and support of his or her children and also to deal with the probate. The tasks that are performed by an estate planning lawyer are not only for the benefit of one’s family but also of the society. For example, an estate planning lawyer makes sure that all documents are prepared and filed correctly, especially the will and the instructions as to how the assets should be transferred and how they should be disposed.
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The decisions made by the attorney concerning the design of the will and the selection of an executor affect the future of the estate and its Intestate Succession. This is why it is important for the client to have an estate planning solicitor. There are some situations in which the decision regarding the choice of an executor may have to be left to the client. In situations like these, the client has the option of asking for an appointed person to act as the executor until the time of the client’s death. This is known as the power of appointment. Some solicitors however, do not recommend the power of appointment because it may mean that the client does not have complete control over the entire process of distributing the inheritance.
The distribution of inheritance taxes is another area in which the services of estate planning solicitors are valuable. It is important to understand that the IRS (Internal Revenue Service) has been known to tax some assets without proper notification. The distribution of inheritance taxes is done through the estate planning solicitor who is familiar with all the applicable laws and regulations pertaining to inheritance taxes. Proper advice regarding this aspect is therefore always highly recommended.