Why you Must Work with Professional Paralegals in Document Preparation
Legal document preparation can be a costly affair if you have to hire a fully-fledged attorney to do the work for you. A paralegal will help with document preparation and guide you on the best channel to follow to ensure your papers are properly documented. A good example where a paralegal comes in handy is in the preparation of documents related to living trusts. Through a living trust, you are able to define within the constraints of law how you wish to see your assets dispersed. A living trust allows you to transfer ownership of all your assets to a trust of your choice, and then choose a trustee to manage and administrate the trust. On of the roles played by legal document preparers is to advice you on who the right trustee is; which could be a member of your family, a law firm, your family attorney or even a close friend.
Such living trusts that are prepared under the watch of a paralegal ensure, among other things, that your loved ones avoid probate since technically the assets will no longer be yours since they are owned by the trust selected. Ideally, paralegals ensure asset transfer from your name to that of a trustee is professionally documented to avoid legal hitches during the execution of the trust. If the right channels are not followed during document preparation, it means the assets ought to be surrendered to the state to decide on how to distribute the assets. It is thus imperative to work with paralegals that are qualified, competent and experienced enough to provide the necessary advice in regards to document preparation. At the very least, a paralegal should explain to you the legal implications of all case scenarios likely to occur in the event a living trust isn’t properly funded.
Most of these providers have a tendency of making cold calls and holding seminars trying to convince you to partake their services. It is important to mention that most states today will only mandate lawyers and paralegals to sell living trusts, so you should tread with caution when you start receiving cold calls or spam emails. You can rest assured that living trusts can be a savior when it comes to asset administration and distribution, but only when you get it right from the word go. The first step therefore is to ensure you get the right professional for the job. Estate planning is not something most people enjoy doing, but it is a vital process when you want to enjoy peace. However, just the peace of mind that comes with knowing your loved ones will be taken care of in the event of your demise makes the process well worth it.