Estate Planning? You’ll Need An Estate Planning Attorney
Why You Will Need an Estate Planning Attorney
Estate planning can be an overwhelming idea for some, and the idea of putting it off sounds appealing when you consider all that is involved in the process. But it is important for your loved ones that you take measures to ensure that your finances are properly taken care of in the event of your death, and your healthcare decisions have been resolved if you should become debilitated.
Estate planning can be tricky, even for the those with little assets, no complicated family issues or no intricate financial arrangements. But definitely more so for those with substantial assets, or other complex family dynamics. That is why it is always a good decision to hire an estate planning attorney in Austin. An estate planning attorney assists you with all of the decisions that go into planning for your estate in the event of your death or that you become incapacitated. They will help you plan a will, designate beneficiaries, establish financial and medical powers of attorney, find ways to reduce taxes, find ways to avoid probate court, and set up a trust for you if you should become incapacitated or for your family members in the event of your death.
Finding An Experienced Estate Planning Attorney
Some people may try to save on the cost of an estate planning lawyer in Austin, but this can be a big mistake for several reasons. Just the smallest mistake or missing word can change the intent of a will or trust. An estate planning attorney knows the state laws that determine what can and can’t be in a will or trust, who can or can’t serve as a personal representative in a will or trust, and all of the formalities that must be honored when signing a will or trust. Working with an estate planning attorney ensures that all of these laws are followed and your estate planning is executed properly.
Doing a DIY estate plan could put your family in a precarious position should your will or trust not be legally valid due to an error you made during your unguided planning. Your family could end up hiring an estate planning attorney anyway and spend thousands of dollars trying to correct the will or trust that you planned without an attorney.
Estate planning attorneys are very knowledgeable as well on how to handle complex situations in a will or trust. Some examples might be if you have minor children, if you’ve been married multiple times, if you own more than one business, or if you own property in more than one state, to name a few. An estate planning attorney can help you set up your will or trust to protect your assets.
Estate planning is an essential task to safeguard your family and your assets. Using an estate planning attorney will set your mind at ease that your will or trust has been executed proficiently. If you have questions regarding estate planning or need more estate planning information, contact Lawyer Referral Services today for a free consultation. We have a team of referral counselors who will consult with you and then make a referral for a qualified, proficient estate planning attorney.