The benefits of having an estate planning professional | Cleveland ...

Many Americans pride themselves on being independent and smart. While this may very well be true, there are certain matters in life that often require the knowledge and experience of a professional. Much like most of us would not attempt to rewire our own house; we should not attempt to finalize certain matters pertaining to estate planning.

Some individuals may figure they have access to the necessary forms and can read instructions, therefore how hard can it really be to set up a will or living trust. While there are an array of do-it-yourself personal finance references available, estate planning can also be wrought with complex and difficult to discern information.

On example of how a simple error can cause big problems involves a man who attempted to set up his own living trust. Planning to eventually transfer the deed to his home to his daughter, the man filled out the necessary paperwork on his own. Upon dating the document, however, he accidently wrote in the previous year.

Twenty-five years later the man had paid off his mortgage and wanted to borrow against the equity accrued in his home. He wanted to help his daughter out and therefore planned to provide her the finances to then in turn pay off the mortgage to the home. Upon attempting to complete the transfer, however, the title company detected the error made 25 previously.

Due to a simple clerical error, the man did not have a clear chain of title on his home. The bank, therefore refused to give him a loan.

Luckily the man was able to resolve the issue by consulting an estate planning attorney. He had, however, not only caused himself unnecessary stress but also spent several thousands of dollars in excess legal fees.

This is just one example of how a legal professional can be of assistance when considering estate planning matters. When deciding on important matters related to wills and living trusts, there is often little to no room for error and it's important to ensure things are completed and filed correctly and accurately.

Source: Forbes, "What Could Happen If You Write Your Own Living Trust?," Deborah L. Jacobs, Aug. 16, 2012

Source: http://www.clevelandestateadministrationlawyer.com/2012/08/the-benefits-of-having-an-estate-planning-professional.shtml

google earnings pat burrell hilary rosen grilled cheese allen west north korea missile nerlens noel

Source: http://takylaov.posterous.com/the-benefits-of-having-an-estate-planning-pro

fafsa branson missouri davy jones dead monkees last train to clarksville tim tebow taylor swift post grad