Life is wonderful and we must enjoy it. It offers us opportunities and moments that happen once and we have to accept them. One day can be sunny, wonderful, to have all the plans made for that day, to arrange our favorite people and together with them to realize the plans we have set. That day would be the ideal and most perfect day that one can have, but even so, the day can be bad. Bad in terms of time, mood, and the people around you. Life is a variety of days and moments that we must enjoy because it does not last forever.
There is no need at the moment to talk and plan for the moments after life is over, but we still consider this topic very important and a topic that needs to be resolved in a timely manner. We call this primarily because things in life must be resolved in a planned and timely manner. If something is not solved in time, an even bigger problem arises later. For example, it can be said that each of us has some property that he has at the moment or during his whole life. One day we will have to hand over that property to one of our relatives who are our heirs. In order to avoid unwanted situations, it is recommended to do this in a timely manner.
Timely resolution of the property issue is very important, and even more important to timely resolve the transfer of property to other people who will continue to live after the end of our lives. This procedure is called Estate planning. The procedure is of legal nature, ie it is completed by the lawyers after the property owner authorizes them to complete the whole process. The process consists in perceiving the complete condition of the property first, and then to make its distribution and transfer from one name to another, but a transfer that would be valid after the end of the life of the owner. You can read why this issue is so important and what mistakes are most often made in solving it in the continuation of this article.
- It is a mistake not to solve this issue in time – it is very important that all problems with property and ownership are resolved before death because if not solved in time, problems arise later. This has already happened and usually ended with a legal end in court, so we warn you. It often happens that the parents do not distribute their property to their children, and later, after the death of their parents, they argue and the whole situation ends in court. These situations cool down the relations between the children and most often result in the termination of all contacts between them, and only because the property was distributed to us in a timely manner. So do it on time and do not leave this task unfinished.
- Distribute the property to a lawyer, do not do it yourself on a plain piece of paper – it often happens that the distribution of the property ends only on a plain piece of paper in the form of a will and ends in one of the drawers in the bedroom or study. If you have done this or plan to do so, know that this sheet has no value even though you think it explains and assigns everything. It is necessary to do real estate planning in the presence of a legal representative, ie in the presence of a lawyer. He will guide you and tell you exactly what to do, and you will tell him exactly how you want to plan the property and to whom to assign it. This way the work will be solved painlessly and there will be no misunderstandings when it comes time to assign the property to other owners who are your heirs.
- Ask the people you leave the property to if they agree to take it over at the end of your life because there is a possibility that they will not accept it – it often happens that people do not want unnecessary new expenses or do not want to take someone else’s property. It applies to every segment of life and mostly refers to this moment when it comes to property planning. Property planning as you already know is the transfer of property to another name, but that transfer is valid after the death of the owner. It is usually done on your children, but it can also be done on other relatives or friends. Before completing the legal procedure it would be great to talk to them about whether or not they accept to take over the property at your request. Make the transfer according to the answer.
- Make the transfer of property in a simple and clear way in a prescribed legal form – it is very important when doing property planning that it is in accordance with the practice applied in law. It is simpler when it will be done in a predetermined way, ie by using a predetermined unified form of document used by a large number of law firms. It will be easier for those who will come across the document in the institutions because they are used to those forms, but the forms used are easy to read and understand and for anyone who reads them and meets them (including which people include and future property owners). If you are an owner or a lawyer and you want to complete this procedure in a certain template read more about the documents for the procedure and finish the job in an easier way.
- Cover all costs and debts related to the property, do not leave any costs to the heirs – if you decide to transfer property then do it the right way. Transfer the property to the person you want to transfer it to, but transfer it in a fair way. First, pay all the expenses related to it, and then transfer the property in case your life ends. In this way, you will leave from the heart property that will be clean, without costs, and without any debts, and that is fair and just, ie the right way in which the whole thing should be done.
Knowing the most common mistakes you can now complete this task in the right way without any mistakes and unwanted situations. Follow what we have researched for you and facilitate the whole property planning process.
