When you have a family, hiring an estate planning attorney is a very responsible move that will help ensure they are provided for if anything happens to you. An estate planning attorney will help you iron out all the details of your will, any inheritances and trusts you intend to leave in place, and custody details if you have children. Here are three of the biggest reasons to hire estate planning services:
Estate Planning Attorneys Can Help Avoid Probate
The probate process is the complicated and often expensive court process that happens after someone dies, when a court identifies the assets of the deceased, settles debts and pays taxes and fees from these assets, and then distributes the remaining inheritance to the beneficiaries. The probate process can take several months or even years and cuts into the inheritance left for your beneficiaries.
An experienced estate planning attorney can usually set up your will and your other legal documents to avoid this process. This means that if you die your beneficiaries will receive more money and will receive it much sooner than they if your estate went into probate. This is often very important since your grieving family may not be able to adequately support themselves without access to this money.
Your Attorney Will Customize Your Estate Plan
Instead of using a generic template of a last will and testament, your attorney will personally craft a legal document that reflects your exact wishes for your estate. This is especially important if your estate is complicated, or you would like to include stipulations related to events that may happen after you die. For example, you may choose to leave a trust fund for your children with the stipulation that they can't access it until they graduate from college.
Hiring an Estate Attorney Gives You Peace of Mind
Worrying about what might happen to your family if something happens to you can really keep you up at night. An estate planning attorney will give you peace of mind by making sure all of your ducks are in a row and that your family is financially provided for after you die. You will know that your will is legally binding and can't be contested. This makes it easier to relax and get back to enjoying your time with your family.
Thinking about your own mortality can be uncomfortable, but sorting out the legal and financial details of what will happen when you die is important and will give you great peace of mind.