With the current economic situation, many people are looking to save money, including on the costs of creating an estate plan. Are you thinking about creating your own estate plan? While it may seem like a great idea now, it could create many problems in the future. Take a look at the information below, to better understand the need for professional estate planning services. If you have any questions, or if you’d like to discuss your estate plan needs, contact an estate planning attorney.
- While your planning documents may be legal, they may not actually accomplish your needs or goals. An experienced attorney is able to craft a plan to your specific needs, so that your plan is valid and works. Don’t guess and assume that all of your needs will be met with one document.
- You may not understand how your assets will pass on after your death. Certain assets may have to go through the probate process, while others are passed directly to your beneficiaries. An attorney can help you better understand the differences between certain types of assets so that you’re able to transfer your property correctly.
- You may forget to plan for the unexpected. An estate plan is not just about planning for the distribution of your property. It’s also important to utilize different documents and tools so that you are prepared for possible future needs. An attorney will be able to advise you on how to plan for future incapacity or unexpected death.
Take a look at our next blog post (part 2 of 2), to learn more reasons why it’s not a good idea to handle your own estate planning. With the right plan in place, you can make sure that you’re always properly protected.
If you have any questions, or if you’re ready to begin creating your estate plan, consult with a qualified estate planning attorney.
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