Planning for the future becomes more complicated as time passes. As a kid, future plans were usually comprised of playing baseball on weekend; As a teenager, future plans involved dates with that significant others, as a young adult, future plans might include more financial investments. True enough, getting into your middle-age years mean that planning for the future involves the careful planning of your estate, as made concrete and executable in your will.
It’s not enough that your will be properly constructed, even with the help of a will lawyer; what must be done ultimately is for your will to be properly administered. This is where probate lawyersbecome instrumental. As you know, you will have to assign an executor of your will, a personal representative that will oversee the whole enforcement of your wishes. Probate lawyers help these executors out in, but not limited to: locating, compiling and securing of your assets, collecting proceeds from insurances (such as life insurance), handling income tax issues (which is why some tax lawyers also function as probate lawyers), andsettling disputes between executors and beneficiaries,
As a supplement, an IRS lawyer may also be beneficial in the planning of your estate, as they will help you deal with the IRS regarding any tax and audit issues of your assets, and the consequent taxes entailed in the reassignment of these assets to your beneficiaries. It’s best that you properly plan for this aspect too, as they can prove to be future hassles for your probate lawyer, executor and beneficiaries in the future.