Advantages of Using Paralegals for Document Preparation
When you want to have legal documents prepared, sometimes it may be too costly to go to a lawyer. A paralegal will help with document preparation and guide you on the best channel to follow to ensure your papers are properly documented. Estate planning, and in particular living trusts, is one of those documents that are effectively handled by a professional legal document preparer. 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. As your paralegal officer will advise you, trustees can be anyone from your attorney, to a family member to an establishment such as a law firm.
What this means is that in the event of probate, only the items listed under your legal names will be subject to probate. 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. Needless to mention, you can never compromise on the role that a competent and qualified paralegal plays when it comes to document preparation. The least a paralegal officer worth their name should do would be to advice you on what might befall your estate should you not take the time to follow the right document preparation procedure.
As is with most cases that deal with money today, it is imperative to ensure you deal with professionals who are certified to offer document preparation 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. Living trusts are certainly advantageous when properly implemented, but can be quite costly in the long run if poorly executed. The first step therefore is to ensure you get the right professional for the job. Preparing a living trust is part and parcel of estate planning, which most people do not like to think about or to participate in. 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.