When you have a lot of properties, you need to protect it. One way to do this is by appropriate estate planning techniques. It is a way to prepare for the future because it will bring much convenience in the long term.
An estate plan with the help of an estate planning attorney like source law firm can integrate your unique wishes into a set of legally binding documents.
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Appoint a third party (i.e. guardian) to take care of your minor children and a trustee who will be responsible for managing the money that is available for the care of your children.
To have control over your assets, you can use a trust. This will help you manage your properties before and even after death. People may be more familiar with wills as they often saw on TV shows or movies.
There will be a personal representative to be appointed by the person, which is called the testator. The testator may designate the distribution of his / her property after death. Then the representative, the attorney general, will manage the affairs of the estate for him/her.
If a person died without trust or will, and let his / her properties without owners, then approval will be used to manage human affairs. The probate court will appoint a personal representative to distribute the property to the parents on behalf of the deceased.