Estate planning is a complex area of law with the overlay of numerous laws and tax systems. This area of law includes wills, trusts, probate, and power of attorney, as well as other complex subtopics.
Trying to plan the distribution of your estate yourself can be a daunting and arduous task. It might not be necessary to attempt this undertaking alone. A Washington DC trusts & estates lawyer might be able to shepherd you through the process of estate planning, so that you may feel positive about the result.
The Code of the District of Columbia contains the laws regarding trusts and estates in Washington DC. Some of the topics covered in the statutes include wills, trusts, probate, and power of attorney.
The code also lists remedies for those who are dissatisfied with the administration of an estate. A skilled Washington DC trusts & estates attorney may be well-versed in cases involving challenges to a will or trust.
A power of attorney allows another person to act in the place of the grantor during situations like buying and selling real estate or managing finances. It may be temporary, but it might also last beyond a person’s state of diminished capacity.
The granting of a power of attorney could have serious implications for those who do not understand what they are signing. A capable Washington DC estates and trust attorney may be able to explain the desired effects of a particular type of power of attorney.
A trust is a more controlled way to share assets with others, because it includes a trustee to manage the funds. A living trust can be revoked by the maker during their lifetime. With this type of trust, the funder can also be the trustee.
Another type of trust can be identified in a will, and certain assets from an estate can pour over into it after death. A competent trust and estates lawyer in the District of Columbia might be seasoned in this area of law. They may be able to match an appropriate type of trust to a client’s estate.
If a Washington DC resident loses a loved one, whom they believe passed away without a will, they may still be able to distribute the estate. In such situations, an interested party might consider filing a petition for probate with the District of Columbia court.
Local counsel may be able to file a request for the probate of an estate on behalf of a client. They might also ask to court to declare that the deceased person died intestate, which could then allow the estate to be properly apportioned. An adept trust & estates attorney in Washington DC might describe these procedures in more detail during a client consultation.
Estate planning is no small task; yet it can be done smoothly with the help of a local attorney. A Washington DC trust & estates lawyer may be a beneficial support during the process of deciding how to distribute your assets.
Call the law offices of a District of Columbia attorney to arrange for a consultation about your estate. By involving an experienced legal professional, you might more readily accomplish your estate planning goals.
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