An estate planning attorney is a lawyer who specializes in overseeing matters that relate to estate planning. They understand how the state and federal laws will impact an estate and the legal strategies in getting financial affairs in order when clients are making plans for when they'd be no more.
Estate planning compels individuals to contemplate fiscal matters that will happen while they are still alive and after their demise. It is, therefore, very important to make sure assets are managed prudently and that family members, relatives, and friends receive their inheritance without incident.
Though most people know what they want and would rather do it themselves rather than paying an expert to actualize their vision, it is important to get the correct legal backing to avoid financial and emotional drawbacks.
If you are ready to take the first step in drafting your plans or modifying existing plans, here are some reasons you should want to hire a qualified estate planning lawyer.
It can be quite challenging to plan for the inevitable. You want to leave assets to your relatives or young ones, so they can access them later in life.
As such, you want a plan that is valid and backed up by the law. There are structures, wordings, and financial instruments that are recognized in the court of law. It is only wise to hire someone with the technical know-how and experience to handle it.
In the event that you become incapacitated, you'd be rest assured there is a legally binding plan available.
Asides from the fact that your estate planning lawyer can help write your will and set up a trust, they also help to protect your children, heirs, and benefactors from any scenario that would not allow them to be partakers of your estate.
They help ensure that you're well-prepared for end-of-life scenarios where you become unable to make your decisions. This will typically involve assigning power of attorney, drawing up a living will, or creating any other kind of directives in advance.
In turn, it would prevent unnecessary quarrels among relatives over who is getting what since everyone would be aware of their roles and place. If the whole process seems overwhelming, the legal professionals at Atlanta Estate Law Center recommend attending free workshops where you can learn about what to do when planning. You need an estate lawyer to serve as the legal guide and defender through the whole process of preparing for the future.
You may have an outdated plan or one you drafted that's lacking court-worthy documents. Your estate lawyer would help you put it all together ensuring that it is updated and according to your desire.
Many people experience a significant change in their life every three to six months. Your situation or that of your beneficiaries might change; you don't know that but your lawyer does.
Working with them helps avoid costly consequences that could have resulted from your ignorance or negligence.
Hiring a good estate planning lawyer will go a long way in giving you peace of mind. By clearly informing them and stating in your will what allocation everyone has, you are protecting your loved ones from any misunderstandings that can lead to court cases in your absence.
Your estate planning lawyer can also help you to repudiate any estate or inheritance taxes. In the event of your passing, they offer their assistance to the executor of your will in transferring assets to your beneficiaries. Should probate become necessary, they become their legal counsel.
Estate planning attorneys often charge a flat fee to help you craft the legal documents you need but can also be employed on an hourly basis to help you maintain your estate, act on your behalf to handle disputes when called upon, and ensure that your will is carried out according to plan when required.
Estate planning transcends just writing a will for when you're no more. The will is certainly part of it, but estate planning extends to legal documents that serve as protection for your assets and properties. Hiring an estate lawyer will see to it that your assets are well protected for your benefactors.
If you decide to draft your plan to save time, money, and resources, it would still be important for them to review and put it in order. To find the best lawyer that'll plan your estate, it is recommended that you seek the help of your trusted friends and family members.
Apart from the reasons listed above, hiring an estate lawyer will sustain the effort you put into making sure your benefactors are catered for long after you're gone.