If you pass away without having a clear will, you may be leaving your assets to the wrong people. If you don’t create a legally compliant plan, your loved ones may not inherit your assets.
Don’t make the mistake of trying to DIY your estate planning. Or worse yet, avoiding it completely. Not planning your estate or planning it poorly will have major effects on those you leave behind.
When you hire a lawyer, you can ensure your loved ones will be protected after your death. Read on for the top 5 reasons you want to find a lawyer to help you with your estate planning.
1. They Have Experience
When you hire an attorney, you’ll want to find someone with expertise. If you google “lawyer near me,” that may not cut it. Be sure you’re looking for an estate planning lawyer.
Ask friends and family for recommendations too. You’ll want the best lawyer you can afford to help.
If you don’t comply with legal regulations in your state, your plans may go awry after your passing. Estate planning requires experience and knowledge of local rules.
2. They Help You With Your Will
You’ll want to work with your lawyer on preparing your will. You’ll want to work with your lawyer on getting clear on your assets.
If you have property or accounts, you’ll want to plan what will happen after you die. The same goes for life insurance.
3. Make Sure the Right People Inherit
Your lawyer will help you create legal directives. These are the instructions explaining what you want to happen with your assets.
You need to get clear on who you want to inherit what. These people, called your beneficiaries, will inherit your assets as per your wishes.
4. They Can Handle Complex Situations
If you have a complex scenario, legal help is vital. For example, you may have half-siblings or stepchildren. You’ll want to be clear about what they should inherit from your assets.
They’ll help you create legally compliant documents to set out these wishes. You don’t want to leave this up to the courts.
If you die without estate planning, your loved ones will have to defer to local laws. That may mean a beloved stepchild receives nothing while an estranged sister does.
5. They Work With You on Guardianship
If you have young children, you’ll want to set up a planned guardian. Also, keep in mind rules if you own property in multiple countries or states. Your lawyer will help you prepare the paperwork.
Your lawyer will also work with you to periodically update your estate plans. Every five years or so, it’s good to revise your plans and update them as needed.
Hire a Lawyer to Protect Your Loved Ones
When you hire a lawyer to do estate planning, you’re protecting your loved ones. You’re making sure their future is secure and without drama.
We’re here to help with your legal research. Be sure to check out our other helpful articles for more useful advice.