If you want to avoid the lengthy process of probate, you need to establish a living trust. A revocable living trust can safeguard your assets after you pass away. It is usually difficult to file a lawsuit when a living trust is created.
Therefore, an estate planning lawyer in Port Orchard, WA should be contacted about creating a living trust. The filing of a lawsuit should not concern you unless you have noticed certain tensions within your family. Some of these strains can present themselves in the following forms:
- Children from a prior marriage may not get along with your existing spouse.
- You may be in a relationship with a partner who is not liked by your closest family.
- You may have had a history of mental illness, which could be interpreted as a lack of clear thinking when you create a trust.
- You do not plan to leave major assets or cash to your closest family members. In turn, they may believe that you are unduly influenced by another person.
Make Sure Your Final Wishes Are Met
If any of the above situations exist, you want to make sure you convey this information to an estate planning lawyer. While you want to prevent the process of probate, you also want to prevent any unnecessary disputes. You want to make sure your final wishes are met.
A Good Measure of Protection
If you have been diagnosed with a life-threatening disease, creating a living trust can be exceptionally beneficial. If you become incapacitated, a spouse or partner assumes responsibility for all the property included in the trust.
Without the authority that is featured in a living trust, family members usually have to go to the court to oversee an incapacitated person’s personal finances. Usually, an adult child or spouse works with an estate planning lawyer to gain appointment as a conservator.
You can learn more about this estate planning document by contacting the Business Name. Make sure your financial affairs are handled properly, whether you are sick or have passed away.