The world as we see it today is almost limitless when it comes to DIY. It is common to see people going to the Internet to fill out estate planning forms with a service provider. While this may be good enough in some basic situations, it can be calamitous in the long run. Due to your inadequate knowledge in legal matters, you may make costly mistakes that would even affect your surviving loved ones negatively. We shall now look at some top benefits you derive from hiring an estate planning attorney.
Updates of your estate plan documents
As situation changes in your life, so also would your estate plan. It is to your best interests if you can keep a close relationship with your estate planning attorney as they can look into your documents periodically to see if any changes are needed. You may take a new wife, have new kids, acquire new assets, lose some assets, get a divorce, suffer the death of a loved one, etc. You may not even think about how these would affect your estate plan, but it’s your attorney’s priority to know and so make the required changes. For example, if you have new kids in your family, it becomes necessary to include their names in your will or trust.
Professional and suitable estate plan documents
No service provider offering will or estate plan document templates online would discuss your estate situation and goals with you. They would only inform you about the validity of the will but would not advise you in terms of decision-making. The best you could do is to fill in the blanks. Then, you have to include witness signatures and probably notarize the will. Your attorney would help take some of these burdens off you. He helps make each document appear professional and tailored to your particular estate situation and goals.
Compliance with state laws
Your estate planning attorney keeps up with the estate laws of the state and would ensure that your documents are properly drafted according to state laws. These laws often change, but working with an attorney gives you the peace of mind knowing you have competent hands on deck.
Coordinating your estate plan
Each document in your estate plan serves as a piece in a puzzle, collectively working together to serve an ultimate purpose. Depending on your situation, estate planning attorney can help combine a will and a trust, both asset transfer instruments, to offer you the most benefits. Some people believe that a will or trust can cover all their assets but this is not so. Not all assets can go into a will or trust. Some assets having beneficiary designations such as life insurance and retirement accounts pass down independently. Some assets and documents would need to first be retitled if you wish to have a say in where they will end up. In simple terms, each of these things should be looked into as pieces of a whole in order for them to work together without inconsistencies.
Peace of mind
It is one thing to mean a thing, it is another thing to say it just as you mean. One major mistake people make is trying to write the terms of their documents themselves. Such terms are read with the eyes of the law. Being unfamiliar with legal matters puts you in a wrong position to effectively write out these terms since you may mean one thing whereas legally speaking it means something else. The worst thing is that these mistakes are most times realized when you’re gone, when they can no longer be remedied.
However, your estate planning attorney will help you draft each document using the right terms that accomplish your goals exactly as you desire.
Contact an estate planning near you today.
When planning your estate, you may require the help of an expert. An estate planning attorney boast of the necessary skills, knowledge, and experience to walk you through the estate planning process. With the assistance of the attorney, you will plan an estate that conforms to your wishes and the laws of your state. If you live in New York and you have finally decided to plan your estate but you need advice or assistance on how to get it done easily, you can contact us. We will provide you with the best estate planning attorney.
Contact an estate lawyer near you, today.