Why Do You Need An Estate Planning Attorney?

Are you debating whether or not to hire an estate planning lawyer? Estate planning is a serious thing. One missing signature or one wrong word can change the whole purpose of a will or trust.

Reasons listed below should be enough to persuade you to find an estate planning attorney:

State Laws Rule Estate Plans

State laws are very particular about what can and can't be in a trust, will, or medical or financial power of attorney. The laws are clear about who can and can't serve as a personal representative, health care surrogate, or trustee. Who can and can't be a witness to a trust, will, or medical or financial power of attorney. Many people are not aware of the formalities that must be observed when signing a will, trust, etc. And an attorney can offer his help.

Let's take an example, in Florida; a personal representative must either be related to you by blood or marriage; if either of these things is not possible, then he should be a resident of the state. But because people are not aware of the rules, they designate a friend or attorney from out of state as the personal representative. Non-relatives, non-resident, simply can't serve, and in particular, won't be permitted to serve in Florida. You can avoid these mistakes by working with an estate planning attorney.

Buyer Beware

The saying buyer beware" definitely applies to estate planning. Many people think that they will be saving a few dollars by using forms found on the internet or do everything without any help to prepare their estate planning documents. Don't give a shock to your family when they learn that part or all of your trust, will attorney, or medical or financial power of attorney isn't legally valid or won't work as you had imagined. A lot of money will then be spent by your loved ones hiring a probate attorney fixing your mistakes.

Estate attorneys Can Help Sort out Family or Financial Situations

Analyze your assets and life and see if you are in any one of these situations

• You own one or more businesses
• You own real estate in more than one state
• You have minor children
• You're in a second (or later) marriage
• You have problem children
• You have a disabled family member
• You don't have any children
• You have substantial assets in 401(k)s and/or IRAs
• You recently lost a spouse or other family member
• You want to leave some or all of your estate to charity
• You were recently divorced
• You have a taxable estate for federal and/or state estate tax purposes

If you are going through any of these situations, then you need advice and counseling of an experienced estate planning attorney to create your estate planning documents. If you don't do the right planning now then, later on, your family may need a probate attorney to settle everything, and the process, which will consume time and money.