Legal Bankruptcy,Estate planning grand rapids mi,Real estate attorney The Importance Of Legal Planning In The United States

The Importance Of Legal Planning In The United States

From probate law to real estate law, hiring a lawyer can sometimes become essential in life. After all, the vast majority of people do not have particularly much experience in the legal world, something that is certainly not always a bad thing. But it also means that people don’t really know how to navigate the legal world, such as in cases of probate law, and might need help from a lawyer such as a tax attorney or even a real estate lawyer.

Aside from probate law, real estate law is something that affects a great number of people here in the United States, where the number of homes sold is relatively high. In fact, in just the year of 2017 alone, more than five and half million homes were sold by the time that the year had drawn to a close. Home owners are buying homes – but they are losing homes too. Foreclosure rates are high as well, with as many as more than nine hundred and fifty thousand homes foreclosed on in just the year of 2016 alone, as well as more than two hundred thousand home repossessions in this same year. For people whose homes are being foreclosed, hiring a real estate attorney can help you to know your rights – and know if there’s anything that you can do to stop the foreclosure process, as it can often be halted if you are able to get in your missing home payments in as soon as you possibly are able to.

Estate planning is another important facet of the legal world, and an estate planning attorney can help their clients to understand not only probate law but a wide variety of other legal factors of importance that will go into the estate planning process. Unfortunately, the vast majority of all Americans have not even yet begun the process of estate planning, something that is considered to be absolutely essential to do by the vast majority of legal professionals. In fact, only just over forty percent (forty two percent, to be more exact) of all adults in the United States have even begun the process of estate planning and some people don’t even really know what estate planning entails or what probate law is. And, simply put, many people really just don’t understand why putting together a will and estate planning is so crucial, with more than fifty five percent of all people (fifty seven percent, to be exact) of all people who do not yet have a will planned saying that there’s no real reason that they don’t have a will and have not gone through the process of estate planning – they just simply have not yet gotten around to it.

But there are many reasons to engage in estate planning with a lawyer that specializes in such services and knows the ins and outs of probate law. For one, many people (nearly sixty percent) are looking to avoid probate. A lawyer can help you to understand probate law as well as help you to avoid getting probate through the use of estate planning. On top of this, many people are also looking to minimize any difficulty among beneficiaries who are listed in the will. By thoroughly planning out your estate, you can keep this from becoming a reality after the event of your death. Finally, you can help to keep your underage beneficiaries from mismanaging their inheritances, setting up your will and estate so that they do not have access to their portion of what you leave behind until they reach a certain age, which can be designated in your will. Though you of course hope that you will not need this part of your will, that you will live to see all of your children to become adults, the future cannot be predicted and sometimes tragedy strikes.

Legal planning can be essential for many different parts of life here in the United States, from avoiding the foreclosure of your home to engaging in the estate planning process (which is, let’s be honest, likely something that you’ve been putting off for awhile).

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