Most people have heard of estate planning and understand that it involves putting together a will with an estate lawyer. However, even though this is an essential task to complete, there is still a lot of confusion on the subject. The following guide aims to clarify some of this misunderstanding by answering a few of the most commonly asked questions. 

What You Need to Know About Working With an Estate Lawyer

How old do you need to be to start estate planning?

One of the most commonly held misconceptions regarding this subject is the age in which you need to hire an estate lawyer. While many people believe it isn’t a task you have to complete until you’re older, married, or have children, the truth is, you should start as soon as you are considered an independent. Not only will this ensure your assets go to the right parties in the event of an untimely passing, but it will also respect your wishes regarding end-of-life care and funeral services. 

What happens if you pass away without a will?

If you didn’t work with an estate lawyer to prepare a will, the state would step in to handle the division of your assets. This is typically based on whoever is next of kin, regardless of the emotional state of that relationship. 

What is a power of attorney?

A power of attorney is an individual given the authority to make decisions on your behalf if you’re unable to. For example, if you were in a coma, the person designated as your agent would make decisions about medical care and treatment for you.

What is probate?

Probate is a legal process that all estates must go through before assets can be distributed to the appropriate beneficiaries. The purpose of probate is to settle any outstanding debts and taxes, and on average, it can take anywhere from three to nine months. 

If you need an estate lawyer to help you prepare a will, talk to the professionals at Knochel Law Office in Bullhead City, AZ. Since 1987, these attorneys have provided residents throughout the area with high-quality legal counsel and guidance. Visit their website to learn more about their firm, and call (928) 444-1000 to schedule a consultation today.