Although there are many things you can DIY, a will is not one of them. Creating a will or estate plan is a complicated process. And even though you don't have to hire a lawyer to create one, you'll be glad if you do.
An estate attorney can help you navigate through the process and help you achieve your goals, so you can make sure your family is protected.
Here are 10 reasons why is a good idea to hire a lawyer.
1. They Know the Laws
Lawyers know the laws which why you need a lawyer when thinking about writing a will or estate planning.
Although it might seem like it's easy to write down your wishes on your will or estate, there are very specific laws to what should be included in a will.
The last thing you want is for your family to have trouble with the will because a provision was missed.
Getting everything properly regulated on the will can save your family many problems in the long run.
2. It Gives You Control Over Your Properties
Some people might think a will is for rich individuals who own a lot of property, but this couldn't be further from the truth.
Even if you only own one car or a house, you should protect it. If you don't have an estate plan or a will, then you might leave your family fighting over what is yours.
What is worse, everything that once belonged to you will be in control of the state, who will determine who gets what.
Having a plan and a lawyer to help you with this is extremely important.
3. They Understand Complex Financial Issues
Having an estate plan or a will is not just about determining who gets your expensive jewelry, it's also about determining many other financial responsibilities.
For example, who will pay your debts? Do you have a 401K or IRA account? Do you pay spousal support?
Those questions are one of the reasons why you need a lawyer when thinking about planning your will. They're used to dealing with complex financial situations and can help you find a solution to those problems.
4. It Helps You Plan for The Unexpected
Although we all like to think we'll make it to old age, life has other plans for us sometimes.
You never know when a tragedy might happen, so it's important to get a lawyer who will help you think about the many possibilities.
A lawyer will help guide you through possible scenarios you never even thought about.
So you will be able to go day by day knowing you're protected in case of the unexpected.
5. Avoid Paying Probate Costs
If you pass away without leaving a will, your estate is ceased by the state and has to go through the probate process.
This means, not only will your family has to deal with their grief, they will also have to spend some time in court.
If you get a lawyer to help you with your estate planning, you will be helping your family avoid probate court. Hiring lawyers and paying court fees will be financially taxing for them.
Consulting a lawyer to write your estate plan will give it more validity in front of a judge and save everyone time and money.
6. It Will Protect You In Case of an Incapacity
You have probably thought about who will get what in case of your death. But have you thought about who will make the decisions in case you're incapacitated?
In the event of an accident or an illness that could lose your ability to make to make decisions for yourself, who would you designate?
A lawyer can present you with possible scenarios and you can figure out who you would give a power of attorney. If you wish to withdraw care in case you become paralyzed or need life support, you can talk about your wishes with your lawyer.
7. Your Family Will Be Protected
There's nothing more scary to a spouse than thinking about their partner not being there for them.
When you create a will with your spouse and consult a lawyer, everyone will have peace of mind.
What if you're the sole caregiver of your elderly parents? Thinking about you not being there for them is also a scary situation.
Fearing for the financial safety of your family is one of the reasons why you need a lawyer.
8. Your Family Is Growing
If you have started a family, you want to do everything in your power to make sure they're protected.
The best way to do so if by leaving a plan behind in case anything happens to you. In case you're no longer there for them, the last thing you want is for them to be and feel unprotected.
A lawyer can help you figure out who would get custody of your children and how to financially protect them in case of the unexpected.
9. What is The Size of the Estate?
Every estate is unique, and a one size fits all estate plan won't do it justice. Lawyers have experience dealing with all kinds of estates and can offer you the best solutions to your problems.
Depending on the state where you live, you will have different taxes and expectations in the event you pass away. A lawyer can help you determine the best solution for your estate.
10. Someone to Help You Plan No Matter the Stage
Depending on your age and your assets, you will have more financial responsibilities. If you're younger and don't have a lot of assets, this doesn't mean your estate is not important.
A lawyer can help you make an estate plan no matter the stage of your life. In fact, the sooner you start planning, the less work you will have to do at once.
Do You Need an Estate Attorney: The Bottom Line
If you're thinking about creating a will, an estate attorney is essential to this process. They know and understand the law, they can help you no matter the size of your estate, and help you have peace of mind.
Are you in need of help with your estate planning? Visit us to learn more about our estate planning services.