A Smart Decision: 5 Reasons to Hire an Estate Planning Lawyer
Only 32% of Americans have a will. This is surprising considering the fact that probate, the process of settling a person's estate in the courts, has a reputation of lasting until the beneficiaries are about to die. One of the most effective ways to speed up probate is to have a valid will in place.
To do this, you can look up forms online and fill them out yourself. However, it's always best to talk with an estate planning lawyer. Why? Let's find out.
Estate Law Is Tricky
State laws governing estate planning vary widely from state-to-state and are very specific. Overlooking something as simple as who can or can't be your personal representative or have power of attorney can turn into an expensive mistake.
Estate planning lawyers are fully versed on the laws in their state and can help guide you to create a strong will that meets all the proper requirements.
Current Compliance
What's more, estate laws can change. Estate planning is often done many years before a person actually dies. If the laws change during that time, their paperwork can easily fall out of compliance. They might think they have everything taken care of for their beneficiaries — but they actually don't. Your lawyer will ensure that everything stays up to date.
Complex Situations
If your family is perfect and everyone is amazing human beings who always do what's right, you can skip over this reason. However, if you're like the rest of us and have a crazy, dysfunctional family with a couple of bad apples here and there, keep reading.
An estate planning attorney can help you figure out how to handle delicate situations. Perhaps you have a child who isn't good with money and would prefer they not receive their entire inheritance at once. Or maybe you've been divorced and have more than one marriage (and may have stepchildren). Some people may be wondering how to care for an adult child with disabilities.
Regardless, every family's situation is unique but a skilled lawyer can help you navigate even the trickiest situation.
Validity
You might be tempted to go the online route and save yourself a few dollars. However, if you do something incorrectly, your beneficiaries could end up spending far more trying to set it straight.
Perhaps the way you did your will or a power of attorney means it isn't legally valid, or the trust you set up doesn't work the way you had planned. Sorting it out will be a challenge, to say the least. And it only gets worse if your beneficiaries disagree on how you intended to divide things up — or who deserves what.
An Estate Planning Lawyer Is a Trustworthy Resource
Finally, remember that once you find an estate planning lawyer you can trust, you have a resource you can trust. Estate planning is tricky not only because of the complicated laws but also because of our complicated families. A lawyer can offer you the best advice based on they've seen work well in the past.
Looking for a competent estate planning lawyer to handle your paperwork? Feel free to contact us today for a free consultation. As specialists in estate planning, we offer only the best for you and your family.
