Should you become incapacitated or pass away, estate planning allows you to protect yourself and the things you’ve worked so hard for. Although crafting an estate plan on your own is certainly possible, it’s worth exploring the benefits of involving an attorney.
Working with an attorney may simplify your life
More than just planning for death or incapacity, estate planning can also allow you to continue supporting your children and beneficiaries, prevent potential family conflicts and protect your legacy. However, this entails doing the hard work of assessing your finances, family dynamics and current circumstances.
Instead of handling all of this on your own, working with an estate planning attorney may simplify the process. They can:
- Write a last will and testament designed to withstand contests
- Establish powers of attorney that can protect you in case of incapacity
- Help you identify beneficiaries
- Provide potential options for transferring assets that are beneficial to everyone involved
- Guide you in the preparation and drafting of necessary documents
- Ensure that your documents are in legal compliance
- Keep crucial documents accurate and updated
- Provide legal advice for unforeseen and changing situations
When you have businesses or substantial assets to your name, complex family arrangements or have concerns about taxes, involving an attorney may grant you much-needed peace of mind. Failing to address these issues may trigger disputes that deplete your estate and leave much less to your intended beneficiaries.
Sometimes, a simple will is not enough. If you require a personalized estate plan to prevent future problems while staying true to your preferences, an attorney may help. Additionally, entrusting the preparation of your documents to a professional may help you avoid expensive mistakes.