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. A living trust for example is one of those documents that a paralegal can help you prepare. At the risk of oversimplifying, a living trust is a document that ensures your property is dispersed as per your wishes upon your death. Through living trusts, you are able to transfer all assets from your name to a person or firm of your choice; thus giving them the legal mandate to administrate it. A paralegal will advise you on how to go about choosing the right administrator, who could be a friend, a family member, an attorney, or even 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. Should you get it wrong during document preparation, it means your assets will be distributed by the State. The need therefore to work with paralegals that know exactly what they are doing in terms of document preparation can never be overemphasized enough. 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.
It needs no mentioning the fact that some unscrupulous individuals will often try to DIY-trust kits or living trusts that may not be feasible in reality, thus you ought to proceed with great caution. 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. If well implemented, you can rest assured living trusts are your best bet when it comes to administrating your property and distribution in the event of your demise. 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.