Your Guide to Debt and BankruptcyYour Guide to Debt and Bankruptcy

About Me

Your Guide to Debt and Bankruptcy

About 10 years ago, I secured my dream job with one of the largest corporations in the country. The job came with a substantial increase in pay and I soon looked for a large house for my family. After living the life I dreamed of, I was let go from my current position. I had a large amount of savings, but the economy took a turn for the worse and savings were quickly drained. I soon became stressed about finances. I could not pay the mortgage and bill collectors started to call my house. I refused to be defeated though, so I met with a bankruptcy attorney instead. I live a much simpler life now with my family, and I want you to know that financial stress does not have to affect you for years. Read my blog to learn about bankruptcy, debt laws, and how to hire an attorney.

2 Reasons To Hire An Estate Planning Lawyer

An estate planning lawyer is the perfect resource for making sure that everything goes smoothly with your finances once you have passed away. This type of lawyer can help you by resolving disputes over your estate and determining how any minors are cared for once you are gone.

Resolving Disputes

One of the biggest reasons to have an estate planning attorney, like Donald B Linsky & Associate Pa, on your side is to help ensure that your estate is not fought over for very long once you pass away. The attorney can help in this situation by making sure everything is distributed exactly how you wished it to be in your will. This alone will greatly cut down on any disputes between your friends and family as there will be no ambiguity when it comes to who gets what items or the amount that they get. 

If a dispute does come up due to someone feeling like he or she was promised something while you were still alive, or if he or she simply feels that they deserve more, your attorney can mediate the dispute and attempt to come to an agreement with that person. For example, if you left a piece of vacation property to one of your children, but another family member feels like he or she deserves the property, your lawyer can attempt to work out a deal where both individuals have access to the property.

Determine How Minors Are Cared For

Figuring out how your children or anyone that you have guardianship over is going to be cared for when you are gone is often the biggest concern that many people have when going through estate planning. Thankfully, the lawyer will be able to offer you a variety of options that can make this process easier on you.

One way that a lawyer can help you take care of your children once you are gone is by helping you to create a trust. A trust is useful because you can keep your money out of the hands of the minor until you think they will be responsible enough to handle it, such as when they are married, graduate college, or simply turn 18. In the meantime, you can name a trustee that can use the trust to make sure that your child's educational and living expenses are covered until he or she can take possession of the trust.

Speak to an estate attorney today in order to discuss the many ways they can help you prepare your estate and finances for when you are gone. The lawyer can help minimize and manage any disputes over your estate, while also helping you to ensure that any minors under your care are properly cared for after you pass away.