Unfortunately, far too many people die without having valid wills. It’s not just enough to have a will written by a probate lawyer Chicago in place. People have to regularly update their wills as things change in their lives. If a person has a lot of assets, things can get messy after that person dies. Relatives that people haven’t seen in years might try to stake claim to assets if there isn’t a will in place and even if there is a will, the terms of it might be challenged. The good news is that people who take the time to keep their wills updated usually have their will stand up to challenges.
There are a number of things that a probate lawyer Chicago from Starr, Bejgiert, Zink, & Rowells or any other law firm can help a person with. One of those things is making a revocable living trusts. Such estate tools are great at helping to determine who gets what after people die. One of the great things about drawing up a living trust is that it can help heirs avoid probate court. This means that heirs won’t have to waste valuable time or money in court. Understand that trusts can’t be used to determine certain things, for instance, if a person wants to name a child’s guardian, a trust can’t be used.
People need to interview a few different lawyers before finding one to deal with. There are certain questions that people need to ask before hiring lawyers, such as how many cases has the lawyer actually handled? How will the lawyer be paid? While some lawyers charge flat rates, others charge by the hour. When probate is being dealt with, people might also want to ask about time frames. In some cases, lawyers can help with final tax returns for an estate. It’s important to get tax returns right. Government agencies can come after estates years down the line if mistakes are made with taxes. Fees and penalties associated with tax mistakes can be rather harsh, so it’s best to get it done properly the first time around. It shouldn’t take long for people to find lawyers who fit their needs if they put in the time and effort.
