Share:

Regardless of your age, health, or the amount of assets you have, estate planning should be a part of every adult's legal plans and preparations. Estate planning offers many benefits that will ease the burden on your loved ones and ensure a smooth transition of all legal processes pertaining to your estate.

Estate law lawyer James Kratovil of the James T. Kratovil Law Offices, PLLC, has been serving the Charles Town, West Virginia, area for more than 35 years. Below, he discusses three reasons why estate planning is so important.

3 Reasons Why Estate Planning Is Important

1. You Will Make Sure Your Loved Ones Are Cared For

Without estate plans in place, your property and assets are sent to probate courts to be divided according to the legal line of succession. But, this may not be appropriate for every family situation. Estate planning makes certain that the family members, friends, and organizations most precious to you receive the assets you want them to have. Also, when your plans are laid out in black and white, there is typically little room for a dispute or reinterpretation of your wishes.

2. You Can Avoid Probate

estate lawThere are certain estate planning documents that allow your estate to bypass the probate process. Probate is notoriously lengthy, complex, and costly, and it could present a financial challenge to your loved ones. Documents like living trusts allow you to transfer ownership of property into the trust now; name a beneficiary to inherit the property upon your death, and the transfer happens without the interference of probate courts and procedures.

3. You Can Maintain Your Privacy

A will submitted for probate becomes a matter of public record. Anyone can access information about how much money you had, what property you owned, and what substantial assets you possessed. Obviously, this can feel invasive to your loved ones who are grieving your passing. In most cases, trusts are considered private and confidential material, so they are also ideal if one of your goals is to maintain privacy for your family and your legacy.

Contact the James T. Kratovil Law Offices, PLLC, to schedule a consultation with an estate law attorney. You can also reach them by calling (304) 728-7718 or connecting via the law office's Facebook or Google+ page. Estate law offers many viable options to help you protect your loved ones in the event of your death; find the solutions best suited to your situation, and call Attorney Kratovil today.

tracking