The Social Security system is in place to help us through difficult times. Unfortunately, there are some instances in which the system makes our lives even more difficult than they need to be. The day I received the denial letter for my claim, I wasn't sure what I was going to do. After talking with a few friends, I contacted a lawyer. That was the best decision I had ever made. Even with the professional assistance, getting the denial overturned and getting the money that I was owed took several months. I have kept a clear journal of my experience and loaded it with information that can help others get through what can be an impossible time.
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Social security denial - a journal of assistance
What Estate Planning Goals Can't A Will Achieve? Find Out
Alexis Garcia
A legally binding estate plan allows you to make essential decisions about your assets and family. For instance, you can name a representative to manage your estate and oversee financial matters before heirs are able to access your property. You may also name a guardian who will care for your kids if you lose your life. However, regardless of how significant a will is to your estate, it can only achieve some of your estate planning goals. As such, you need to discuss your will creation process with an attorney so that you can be aware of the limits of a will, some of which are expounded on below:
Property Transfer
A will is one document that provides direction on who will inherit and what each heir should get. Nonetheless, it does not give the authorization to transfer certain assets. These include property in trust, money in some bank accounts, life insurance, jointly-held property, retirement benefits, and accounts holding stocks and bonds. If you own any of these assets, your attorney can counsel you on the measures to take so that the property ends up with the people you intend. This includes using documentation that will enable you to name beneficiaries to access your assets at the time you indicate.
The Probate Process
It is important to note that having a will might not be enough to stop the probate process. This is more so if your estate is in a state where probate is mandatory for estates worth a certain amount. If you live in such an area, your attorney may recommend alternative strategies, such as a trust, to supplement your estate planning. This can enable your family to avoid the expensive and time-consuming probate process. In addition, it prevents your estate and the inheritance process from becoming part of the public record, which usually happens during probate.
Funeral Instructions
Some family members conduct memorial and funeral services a few days after their relative loses their life. They might do this to try and get over the emotions and pain of losing their kin as soon as possible. Unfortunately, some who do this make decisions before the reading of the deceased's will and determining their wishes. For this reason, your lawyer may advise you to have an alternative document that you can use to leave written funeral instructions. It will help ensure that your relatives respect your wishes after you pass.
As the above shows, a will cannot address all your estate plan concerns. Therefore, you need to discuss your assets and various other aspects with an estate planning attorney before creating your document. The professional will recommend strategies you can use to ensure that your assets end up with the people you intended.
Speak to an estate planning lawyer to learn more.
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