When thinking about what to do with their finances once they have passed, people are often faced with the same question: should they or shouldn’t they hire an Estate Planning Attorney? More than half of Americans do not have wills in place. While many believe they can do the work on their own without having to pay attorneys, they learn the hard way the dangers of going without an Attorney. Estate Planning Attorneys are available for a multitude of reasons, and ignoring their existence is begging for trouble. Estate planning is complex and consists of various parts that people cannot do without assistance.
The future of your finances is on the line. Trusting that with someone who is inexperienced, including yourself, is foolish. Here are six reasons why you should use an Estate Planning Attorney if you are planning ahead.
Why Hire An Estate Planning Attorney
1. State Laws Can Impact Your Will
As we stated previously, Estate Planning Attorneys do not exist for no reason. They are trained in the field and have practiced working in helping you plan ahead. While you may believe you can do the work on your own, you are almost certainly wrong. The Estate Planning Attorneys studied the laws and kept up to date on the latest changes and must-know activity regarding their respective states. Anything that can impact the language within the will is covered by them, while the minutia of will-writing will be missed by inexperienced parties.
The law is black and white, yet plenty of us do not know the laws. It’s a profession for a good reason, and it’s best to let the professionals do their jobs.
2. You Can Make Terrible Mistakes On Your Own
While working on your saves money and time, it’s also practice in asking for failure. As we went over, there are more rules than a non-professional can understand. What may seem black and white to you is another thing to someone who understands the laws. Your wish to do one thing in your will can easily turn into a completely different thing. Considering how important wills are, drastically altering the plan based on a misinterpretation of law or a lack of knowledge in the area is foolish at best.
3. Your Will Can Be Invalid Without Assistance
Even worse than having a will say the wrong thing has no will at all. This possibility exists thanks to the various laws surrounding wills. Say you use a website or a do it yourself book to write your will, then you use that as your final copy. Perhaps you miss a step here or there, or the book is outdated, and you miss a new law. Suddenly, your will is null and void, and everything you worked on is meaningless. Again, wills are of such great importance that using an Estate Planning Attorney-someone trained to avoid these exact problems-is a no-brainer.
4. Some Problems Need Professional Mediation
Say you are in a unique situation and were recently divorced, or have someone that could argue some of your earnings belong to them. Perhaps someone wants your money and is going to fight for that money the second they can. You cannot defend yourself in such a situation, but an Estate Planning Attorney certainly can. Estate Planning Attorneys are often used as mediators in unexpected situations that arise in the process. Anyone can make the case that they deserve more money or that the money is theirs, and there must be protection in such situations. Your money is of great importance, and failing to protect that money to your full legal ability with your full available assistance is begging for it to go to the wrong places.
5. Estate Planning Attorneys Can Help With More Than Just Money
It’s essential to understand that you are far more valuable than only the money in your bank account. You carry plenty of assets around in your existence, and those assets will find new homes as well. Estate Planning Attorneys are well versed in understanding how to ensure all of your assets are accounted for, including the ones you cannot think of yourself. Everything you wish to protect and hand off to the right people will be worked on by your attorney. Without the attorney, you are at great risk of losing something or seeing something taken in by the wrong hands due to negligence on your part.
6. Estate Planning Attorneys Are Trained To Help Individuals
Too often in society today, people feel they are generalized. When hiring an Estate Planning Attorney, it is essential to ask plenty of questions. That being said, they will always be specific with their answers to your case, as each case is individualized. One must not worry about being lumped in with others by these Attorneys. Instead, rather than attempting to plan ahead on one’s own, they can know that they are receiving the proper assistance from someone who understands both the law and their individual circumstances. Don’t try to do it alone, do it with someone that has done it plenty of times before, but still treats you like an individual.