Estates, Estate Lawyers, and Everything In Between
In the year of 2012, the Economic Census conducted a study to determine the number of real estate brokerage firms across the nation of the United States. This census revealed that there were just about 86,000 real estate brokerage firms operating across the nation. These real estate companies are really important for people who need to find a reliable and helpful estate lawyer.
Understanding the world of law is incredibly difficult especially when you are on the outside looking in. This is why people who want to work as a real estate lawyer to help with legal advice have to spend at the very least nearly four years in college. Here are all of the ways in which an estate lawyer can help you with your estate planning, living trusts, and planning for retirement.
According to the Federal Reserve’s Survey of Consumer Finances, just about 65% of all families owned their primary residence in the year of 2013. This is important to know because it can help highlight the importance of what an estate lawyer can do to help people across the nation. An estate lawyer can help these property owners successfully manage their estate and what they do with their estate moving forward.
In just a year of 2014, there were 1,117,426 foreclosure filings and 327,069 home repossessions. Furthermore, keep in mind that one child in every classroom in America is at risk of losing his/her home because their parents are unable to pay their mortgage. These are two situations in which an estate lawyer can help a homeowner find the best option for them and their home in relation to their financial situation.
One foreclosure can result in as much as an additional $220,000 in reduced property value and home equity for nearby homes. Nearly 42% of all American households do not have enough in liquid financial assets to support themselves for at least three months. This is why hiring a reliable estate lawyer can help you figure out what to do to try and keep your home if you are at risk of losing it.
Only 20% of people aged between 30 and 39 have a will, despite this being the most likely age bracket for couples starting a family. A survey was conducted that revealed that 60% of all respondents believe that all adults need to have an estate plan but meanwhile, only 44% of all adults actually have one. This is yet another scenario that an estate lawyer can help you with it is a very important situation to handle.
In a survey asking participants to provide reasons for not having a will, 18% said it was not necessary, 16% said it was too complicated to deal with, 14% said it was too expensive, and 13% said they believed that a spouse/ or children would automatically receive any assets they had. Approximately 55% of American adults do not have a will or other estate plan in place. This is bad because when someone passes if there is no will then the situation becomes quite tricky for everyone involved as they try to settle who is going to get what.
In Conclusion
If you are not involved in estate planning and do not have a living trust or will then you should try to find a reliable, talented, and hardworking estate lawyer that can help you figure everything out. You should not put yourself in a difficult situation nor should you put your family into peril by not having a will set up.
