Even though it is something that most people do not want to think about, everyone must eventually face their own mortality. The process of doing so is obviously never enjoyable, but ignoring it can have awful consequences for one’s own family and even their own current financial situation. As a result, working with a probate lawyer is incredibly important for anyone that is getting older in age.
The average American knows very little about the world of law in general and thus they probably know very little about the specific spaces that exist inside of the court of law. These specific spaces can deal with all types of different legal situations in which someone will need legal representation. The work of a probate lawyer is really important for anyone who is older in age, here is why!
To simply sum it up, a probate lawyer will deal directly with the process of drafting a will or helping a family settle an estate. When someone passes away they can choose to draft a will in which they leave items of value that they own to people in their family. Even though this seems simple, it can become incredibly tricky when family members are filled with greed or wish to dispute an estate settlement.
Working with a probate lawyer is somewhat similar to working with an estate attorney. A probate attorney works hard to help people settle estate issues and to help figure out wills and trusts. Understand that a will that can be complicated at all will take just about two years to probate, but one that is simple will take just about six months.
For reference and context, you should know that an estate that has a value of more than $150,000 needs to be probated. So where there is a large stake of money to claim there will definitely be a probate lawyer nearby working to help figure out who is going to get this estate and who is not. Furthermore, a probate lawyer can even work to divide this estate amongst family members.
Studies show that over half of all Americans die without having prepared a will or estate plan. These people did not hire a probate lawyer and thus their family will have to deal with sorting out who gets what when this person passes away. This is not surprising seeing as how over 50% of all Americans who are between the ages of 55 and 64 do not have any will written up.
A survey was recently conducted in which Americans were asked if they had a will and if they did not have one, why that is. This survey revealed that 57% of all respondents said that they have never gotten around to drafting one. This is not good because the company Business Insider believes the three most important legal documents for any American to have is a durable power of attorney, living will, and a will.
There is no question that the average American should seek out working with a probate lawyer as they grow older. The process of dealing with a family members death is difficult enough, to begin with, but dealing with all of these legal issues near the end is going to make this process even more stressful. Furthermore, you will not want your family having to deal with legal turmoil as they try to split up the estate amongst one another. Look for reliable probate attorneys to help you with all of these issues.