Having an estate plan is vital for anyone who wishes to have a say in how their property will be distributed after they die. While there are do-it-yourself kits claiming to help people with this process, it isn’t always the best idea to go it alone when it comes to estate planning. Especially if there is property involved, it’s always best if a person creates the estate plan with the help of an attorney who has real estate experience and understands how real estate law works. For those who have been considering starting the estate planning process, here’s why they may want to contact a real estate attorney before they begin.
Most people recognize that selling real estate isn’t something they should undertake on their own. However, what they don’t realize is that they may be faced with the reality of selling a loved one’s property if they choose not to keep and manage it once the loved one is gone. If a family decides that selling the property is best, a Real Estate Attorney In Orange County NY, will be able to walk families through the process of valuing a piece of property as well as helping to facilitate the sale and make sure that the family doesn’t get themselves into any legal or financial trouble.
Depending on how much real estate a person leaves behind, the family may find themselves having to pay serious federal and state estate taxes on those properties. Unfortunately, this can be a significant drain on the estate, causing families to lose a lot of money. A Real Estate Attorney In Orange County NY, that has estate planning experience will have a thorough understanding of these laws. If there is any possible way to reduce or eliminate these taxes or avoid selling assets to pay them, an attorney will be able to help with figuring it out.
Hiring a real estate attorney for help with the estate planning process is about more than just making sure that beneficiaries are able to take possession of a piece of real estate. It’s also about ensuring loved ones aren’t stuck paying hefty fees when they don’t have to. For those who want maximum assurance and protection, contact Attorney Mark Aberasturi. He can show families and individuals how to ensure that legal issues are kept to a minimum and everyone has more peace of mind.