Legal document preparation can be a costly affair if you have to hire a fully-fledged attorney to do the work for you. Working with a paralegal, you will be assured of professionalism when it comes to advice given on document preparation. 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. 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.
Such living trusts that are prepared under the watch of a paralegal ensure, among other things, that your loved ones avoid probate since technically the assets will no longer be yours since they are owned by the trust selected. 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. Failure to which the living trust will be null and void hence the management and distribution of the property will be decided 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. At the very least, a paralegal should explain to you the legal implications of all case scenarios likely to occur in the event a living trust isn’t properly funded.
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. In an effort to protect its citizens, most States will only allow paralegals and attorneys to do document preparation for living trusts; so be sure you are working with the right man, or woman, thereof for the job. 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. If you are like many people, you may not want to even think of estate planning; let alone take part in preparation. The first step thus comes in ensuring document preparation is done correctly by a professional.