We live and then we do not. That is an unfortunate fact of life. No one likes to talk about it, which is the truth. Still, while we are here on this earth and have not departed, we look to take care of our loved ones and make arrangements, just so that we are prepared to lie in our caskets peacefully when the time comes, whenever that is. One of these distasteful, yet much needed, arrangements involves hiring an estate planning lawyer. They do us the great service of settling our estate taxes, as well as having it written in pen that your assets are to be bequeathed to the people you want.
So, if you have been putting off making these necessary arrangements, here is why you need to start right away.
Estate planning laws
Estate planning laws are very specific and quite bothersome to deal with. They have thought of everything, even the things that may make no sense to us. They tell you what you can and cannot have placed in your will. Then, just to add to the inconvenience, they tell you who can and cannot be a trustee or personal representative. Though, the legislators are not yet done by making this a completely off-putting ride, they specify who is eligible to be a witness to a will. Of course, this includes all the formalities that must be mentioned during the signing of a will or trust.
Reasons to hire an estate planning lawyer
The details of this entire process are very much meticulous, as you could probably tell by now. This alone is reason enough to hire an estate planning attorney and have them worry about all these little ins and outs of writing you your will or trust. However, there are other reasons you need to get an estate planning lawyer, which extend beyond just your peace of mind and getting it right.
You can write your own will, but will it be valid in court?
In this day and age, where there innumerable amounts of tutorials to be found on online platforms, hypothetically, yes, you can write your own will. However, you should look beyond just writing your own will as it may not hold up in a court of law if doesn’t comply with all the legalities.
You need more than just a will
Though, wills and estate plans have often been found to be used interchangeably, they are not the same thing. The legal advisors over at AtlantaEstateLawCenter.com explain that legal documents need to be written in Mandatory Language, Discretionary Language, Precatory Language to hold up in court. Real Estate legal advisors will ensure that the legal documents required follow the right structure and are ready for the occurrence of an untimely or premature death or incapacitation. A lawyer will get these matters in order and make sure they are drafted correctly.
Save money
Apart from the obvious, which is that you will be saving money by settling your estate tax, an attorney will also make sure that you do not have to pay a lot of fees in the long run. This will be by securing you a flat rate, which is always a good thing. This can help build you a long term plan that will not bankrupt your family and deplete your assets. For that reason, you will want to look for an experienced attorney.
You can update your documents as you go
By hiring an attorney, you will be able to get down exactly what you want, as opposed to doing it yourself and thinking that you jotted down one thing when in truth it means a whole other thing. They will walk you through it all, and make the adjustments you ask of them. Also, updating your documents will be easy and definitive as you go.
They help you with your decisions
Lawyers will give you their objective opinion; and alone is is worth money, but they charge you by the hour all the same. They will guide you through the possibilities of your decision and shed light upon matters which may not have been brought to your attention. They will give you their unequivocal opinion on whether or not it is a good idea to leave someone a huge estate with millions of dollars’ worth of tax.
Hiring a lawyer for matters which are as sensitive as estate planning is crucial, and very much needed. That will be for the sole reason of having your documents check out, and stand valid. Speaking of which, it is lawyers that will be checking the validity of these documents in the case of your sudden departure, again, reinstating why you should get an estate planning lawyer.