These days, one can find anything and everything online, including do-it-yourself estate planning forms. These forms may be appealing, especially if you want to save time and money by not hiring an estate planning attorney. Unfortunately, when it comes to estate planning, you get what you pay for and in many cases, saving time and money upfront will not pay off in the long run.
One Size Does Not Fit All
When planning your estate, there are numerous factors to consider, and assuming a DIY form off the internet is going to fit every family’s needs can lead to irreversible or costly mistakes. Everyone’s situation, financially and otherwise, is different, so it is important to have an attorney help you make sure your beneficiaries’ specific needs are going to be met. Without the guidance of an estate planning attorney, including step-children and or business assets in your plan can become confusing and you may even miss important asset protection benefits simply because you were unaware of them.
Ever-changing Laws
The legal system is an ever-evolving world where laws can change quite often, and unless it is your job to know when these laws change and how, you may not even be aware that they have. Estate planning is designed to give you peace of mind that your beneficiaries and assets will be well taken care of. There are countless forms available on the internet, but it is quite difficult to know whether or not they are up to date with your state’s current laws. Hiring an estate planning attorney will give you the confidence to know that your document will be valid when it really counts.
Estate Planning Laws for Each State
Not only are laws constantly changing, but laws regarding trusts, probate, and taxes are very different from state to state. The laws can differ so greatly that an online form simply cannot be counted on to cover the specific laws for each and every state. An attorney in your state, who is experienced in estate planning, will be able to make sure your documents meet and follow the requirements and laws dictated by your state.
Some things are best left to the professionals, and estate planning one of them. Hiring an affordable attorney could mean the difference between having your beneficiaries and assets taken care of the way you intended and leaving them with inadequate benefits and confusion.
What is a Simple Will?
A simple Will is a legal document that sets forth your wishes regarding the distribution of your property at your death. If you die without a Will, state law decides who inherits your property.
In a simple Will, you will name a Personal Representative to manage the distribution of your property and the payment of expenses upon your death. You can also name a Guardian for your minor children, and/or a Conservator to manage the financial affairs of minor children.
If your estate distribution plan is more complex, if you want to control what happens to your property after your death through a trust, or if your estate will be subject to estate taxes upon your death, a simple Will is not for you.
Find out how Sylvester Law can provide you with affordable estate planning services.