Is it necessary for you to hire a lawyer in North Vancouver to help you make your will? The answer is now. However, hiring an experienced wills and estates lawyer in North Vancouver can provide you with a lot of irrefutable benefits.
Making a will is not as straightforward as many people seem to think. You can just right all your stipulations and call it a day. You can do that but then it could end up encountering a lot of issues once it is executed. That is what you would avoid when doing estate planning.
Here are the reasons why you should hire a lawyer when making your will:
1.To help you know what should be included in your will.
Not everything should be included in your will. Assets that already have a beneficiary such as your pension plans or life insurance can be exempted from your will. Just make sure you update your beneficiaries directly on your insurance or pension documents. If you got a divorce, for instance, you need to immediately change your beneficiaries so that your ex-spouse will not get your hard-earned money.
2.To create strategies that will prevent probate.
Your estate will go through the probate process if it’s not clear who gets what. Your lawyer will let you know more about estate laws, so you can follow them. If there are estate laws that are not followed, your will could end up going through the probate process.
3.To protect your family from estate taxes.
Estate taxes could take a huge chunk of your assets. If you are not careful, most of what you have earned could end up going to the government instead of your family. This is why you need to take extra steps and measures to prevent an expensive estate tax. You can start by transferring some of your assets to a living trust or giving some of your properties as a gift. Your lawyer can help you with that.
4.To make sure it won’t be contested.
If there are discrepancies and confusing parts to your will, there is a good chance someone in your family will contest it. Additionally, many people forget to have their will signed by witnesses, which is a good reason for someone to contest it.
5.To make sure someone knows you have a will.
You can appoint your lawyer as the executor of your estate. This is someone who will ensure that the terms in your will are executed.
Hire experienced wills and estates lawyers such as Lynn Valley Law so you can create a fail-proof estate plan.
For further details about lawyer North Vancouver please visit the website.