Believe it or not, your friend from work, that freshman going into pre-law, and your dad may not be the most reliable sources on how legal documents work. Legal documents are chock full of jargon, clauses, and references to individuals or legislation. They’re often complex to the most knowledgeable attorney or legal document professional and downright incomprehensible to just about everyone else. Yet, legal document misinformation has been perpetuated for years, spreading throughout communities. Some have become so pervasive they’ve been accepted as fact. Luckily, ProSe Legal is here to reveal the truth behind the legal myths you may have heard.
Getting a Will When You’re Old Isn’t the Only Estate Planning Option
This legal misinformation has two major problems. It assumes everyone will get to grow old, and that a will is the right (or only) estate plan for everyone.
When you’re young and reaching important milestones, it can feel like you have your whole life ahead of you. It’s completely understandable why many adults avoid thinking about their estate plan; there is, after all, so much life to live. Unfortunately, we can’t all live until we’re nearly a century old. Morbid as it may sound, tomorrow may never come. Yes, even young thirty-somethings who have a little one on the way need to think ahead. Because the unthinkable is also unpredictable, it’s prudent to plan for what happens to your estate or family upon your death.
Additionally, wills are not the end-all of estate planning. This legal document myth ignores another immensely useful estate planning document from which most people could benefit. While wills can establish guardianship for your children and distribute certain assets to friends or family, they are also subject to probate. Probate is lengthy and expensive, and it often takes much of your estate, leaving little else for your heirs. Meanwhile, a living trust protects your estate for your beneficiaries and is not subject to probate, making it especially useful for parents. This ensures your friends, family, and even favorite charities will receive what you’ve bequeathed them.
Misinformation Surrounding Online Legal Documents
Doing legal paperwork online is less a case of could you, as much as it’s a case of should you. We’ve all seen the TV commercials and internet ads for those online legal document preparation websites. They promise the cheapest, fastest way to complete your legal paperwork by sending you printable documents to fill out yourself. It’s true that you can’t beat their pricing, but as they say, you get what you pay for.
Although you could receive a will or articles of incorporation, these one-size-fits-all documents from online preparers often use invalidating language. They also may not provide all the documentation needed to fulfill your state’s document requirements. This means you need to go to a legal professional to refile the same documents, costing you time and money.
LLCs Don’t Always Protect Your Personal Assets
Limited liability companies (LLCs) are a business structure that separates assets belonging to your business from your personal assets. This ensures you pay the debts you accrue under the business with only the business’s assets. For example, under an LLC, your business may have its own bank account. From this account you pay rent on your office space or payroll. However, if your company accounts cannot cover your business’s debt payments, your personal bank account is protected. In other words, your family home is safe if the business fails. This makes LLCs an attractive structure for small business owners.
However, that limited liability is just that: limited. While debts incurred by the business won’t drain your family bank account, you aren’t immune from wrongdoing. If you commit a crime or are successfully sued, you still must pay any fines with personal funds.
Divorces Could Be Civil
In a perfect world, divorcing couples would be able to amicably work through their divorce proceedings fairly and civilly. Unfortunately, divorces are emotionally charged affairs that are often fraught with perceived wrongs. However, it isn’t always tears and nasty legal arguments like commonly spread misinformation would have you think. In fact, many divorces are logical, calm, and sometimes even friendly, allowing for an uncontested proceeding.
When a couple is in total agreement about their divorce, including custody and child support or alimony payments, they may not even need to spend thousands on attorneys. A legal document assistant who can assist with filing their legal documents correctly may be the only legal help they need.
Believe it or not, your friend from work, that freshman going into pre-law, and your dad may not be the most reliable sources on how legal documents work. Legal documents are chock full of jargon, clauses, and references to individuals or legislation. They’re often complex to the most knowledgeable attorney or legal document professional and downright incomprehensible to just about everyone else. Yet, legal document misinformation has been perpetuated for years, spreading throughout communities. Some have become so pervasive they’ve been accepted as fact. Luckily, ProSe Legal is here to reveal the truth behind the legal myths you may have heard.
Getting a Will When You’re Old Isn’t the Only Estate Planning Option
This legal misinformation has two major problems. It assumes everyone will get to grow old, and that a will is the right (or only) estate plan for everyone.
When you’re young and reaching important milestones, it can feel like you have your whole life ahead of you. It’s completely understandable why many adults avoid thinking about their estate plan; there is, after all, so much life to live. Unfortunately, we can’t all live until we’re nearly a century old. Morbid as it may sound, tomorrow may never come. Yes, even young thirty-somethings who have a little one on the way need to think ahead. Because the unthinkable is also unpredictable, it’s prudent to plan for what happens to your estate or family upon your death.
Additionally, wills are not the end-all of estate planning. This legal document myth ignores another immensely useful estate planning document from which most people could benefit. While wills can establish guardianship for your children and distribute certain assets to friends or family, they are also subject to probate. Probate is lengthy and expensive, and it often takes much of your estate, leaving little else for your heirs. Meanwhile, a living trust protects your estate for your beneficiaries and is not subject to probate, making it especially useful for parents. This ensures your friends, family, and even favorite charities will receive what you’ve bequeathed them.
Misinformation Surrounding Online Legal Documents
Doing legal paperwork online is less a case of could you, as much as it’s a case of should you. We’ve all seen the TV commercials and internet ads for those online legal document preparation websites. They promise the cheapest, fastest way to complete your legal paperwork by sending you printable documents to fill out yourself. It’s true that you can’t beat their pricing, but as they say, you get what you pay for.
Although you could receive a will or articles of incorporation, these one-size-fits-all documents from online preparers often use invalidating language. They also may not provide all the documentation needed to fulfill your state’s document requirements. This means you need to go to a legal professional to refile the same documents, costing you time and money.
LLCs Don’t Always Protect Your Personal Assets
Limited liability companies (LLCs) are a business structure that separates assets belonging to your business from your personal assets. This ensures you pay the debts you accrue under the business with only the business’s assets. For example, under an LLC, your business may have its own bank account. From this account you pay rent on your office space or payroll. However, if your company accounts cannot cover your business’s debt payments, your personal bank account is protected. In other words, your family home is safe if the business fails. This makes LLCs an attractive structure for small business owners.
However, that limited liability is just that: limited. While debts incurred by the business won’t drain your family bank account, you aren’t immune from wrongdoing. If you commit a crime or are successfully sued, you still must pay any fines with personal funds.
Divorces Could Be Civil
In a perfect world, divorcing couples would be able to amicably work through their divorce proceedings fairly and civilly. Unfortunately, divorces are emotionally charged affairs that are often fraught with perceived wrongs. However, it isn’t always tears and nasty legal arguments like commonly spread misinformation would have you think. In fact, many divorces are logical, calm, and sometimes even friendly, allowing for an uncontested proceeding.
When a couple is in total agreement about their divorce, including custody and child support or alimony payments, they may not even need to spend thousands on attorneys. A legal document assistant who can assist with filing their legal documents correctly may be the only legal help they need.
Dispelling Legal Document Misinformation in the Inland Empire
If a question arises regarding a legal situation, it’s always the right call to request help from legal professional like an attorney. While legal documents can sometimes seem overly complicated, a legal document assistant can help you break down the misinformation, understand your paperwork, and file it correctly the first time. At ProSe Legal, we pride ourselves on providing compassionate, knowledgeable document help to our friends and neighbors in the Inland Empire. With more than 15 years of experience, we can assist with documents in the areas of family law, business formation, estate planning, immigration, probate, and more.
If you’re ready to demystify your legal paperwork, today or call (909) 224-4361 to schedule your appointment.
