Estate Planning Lawyer
Your estate strategy is your legacy lasting long after you pass. And while you may be able to make end-of-life decisions on your own, the question is: should you?
An estate plan is a lot more than simply a list of your assets and who gets them when you die. Even if your desires are fairly simple– “I desire whatever to go to my kids”– making certain those wishes will be legally viable can often be more complicated than you may think.
Here are 5 things that an estate planning lawyer can do that you probably can’t:
- Personalize your will– without messing it up. Sure, you can easily find a will design template online and merely fill in the blanks. But most people’s lives, households, and properties don’t fit neatly into a generic, mass-produced template. If you need to modify an arrangement in a design template or will, you risk revoking not only that provision but perhaps the entire will. Better to have a knowledgeable expert draft essential documents from scratch.
- Avoid probate and estate taxes. If you want to prevent putting your estate through probate, there are numerous ways a legal representative can help you do it, such as with gifts, making use of death recipients, and joint residential or commercial property ownership. The most typical method of preventing both probate and estate taxes (if your estate will be subject to them) is through the usage of trusts. Much like with wills, there are templates available for trusts. And much like with wills, if you zig when you should have zagged when forming a trust, your whole estate plan might be thrown out the window.
- Know what legal instruments best match your scenario. In some scenarios, a simple will suffices. In others, numerous various types of trusts might be required. An estate legal representative can advise you on how much, or how little, heavy lifting your estate plan requires. An estate planning lawyer can also help you with other legal instruments that may be very beneficial for long-lasting preparation, such as a living will or resilient power of lawyer.
- Let you understand when it’s time to upgrade your estate plan. The other day’s estate plan, no matter how air-tight, might not work for today’s reality. A change in your household, your possessions, and even your place may need changes to your estate plan. And considering that the last thing you’re probably considering when you have a new child or move to another state is rewording your will, having an lawyer who’s got your back can help you keep your will as much up to date when it otherwise might be neglected.
- Stay up to date with the most recent laws. They do not reprint your state’s Probate Code every year simply to offer more books (although it probably doesn’t hurt). Estate preparing laws are continuously altering, and only an estate planning lawyer will understand about the latest guidelines, like the growing number of states giving administrators of estates access to a deceased person’s email and social networks accounts.
There are many nuances to this type of law, as an lawyer, like an estate planning lawyer from a law firm like Kaplan Law Practice, LLC, can explain.