Do You Need an Estate Planning Lawyer?
When thinking about the need to use an estate planning attorney, you need to know that estate planning is something that's very important. One missing signature or wrong word can change the whole meaning of a trust or will. As well as this, the three reasons below should adequately convince you to get out there and employ an experienced estate planning lawyer to plan your estate.
Estate planning attorneys are essential as state laws govern estate plans
State laws are especially specific about what will and won't be a trust, will, or financial or medical power of attorney; the person who can and cannot act as a trustee, personal representative, attorney in fact or healthcare surrogate; the person who can and cannot act as a witness to a trust, will, financial or medical power of attorney; as well as what formalities need to be followed when signing a trust, will, or financial or medical power of attorney.
Without an estate attorney, you cannot plan your estate
The old Latin phrase, "Buyer Beware", or "Caveat Emptor", definitely applies to planning an estate. If you're thinking that you'll save a few bucks by using online forms or a DIY book to draft your documents for estate planning, then your loved ones will get a rude shock when they discover that all or part of your documents are not legally valid or will not work as you expected, click here for more info!
Your family will then spend thousands of dollars working with a recognized estate planning lawyer after that to sort out your mess.
Estate planning attorneys at this link can help resolve complex financial or family situations
Evaluate your life as well as assets and find out if you fall into at least one of these categories:
You have young children
You have errant children
You're in your second marriage at least
You own at least one business
You are childless
One of your family members is disabled
You have real estate in a few states
You were divorced recently
You want all or part of your estate to go to charity
You have considerable assets in IRAs and/or 401Ks
You lost a family member or spouse recently
You own a taxable estate that can be used for state and/or federal estate tax purposes.
If at least one of the above situations describes you, then you will need to seek the legal services and counsel of an experienced estate attorney to draft your documents. Otherwise, your state's revenue department or a probate lawyer may end up receiving the biggest share of your estate. Watch https://www.youtube.com/watch?v=M1eKv-JC to know more about real estate.