Planning how you want your estate divided at the time of your death is never an easy thing to do. There is often discomfort at the thought of death, but with the assistance of an estate planning lawyer, you can ensure that your children, family, and friends are provided for as you choose.
Unfortunately, many people have misunderstandings about what an estate planning lawyer can do to provide you, and your family, with the peace of mind in many different situations. To help to clear up these issues, here are two common myths and one truth about the specialized services these attorneys can provide.
You Can Save Money With A Will Kit
There are many different “will kits” on the market that may be online, or that may be old style pen and paper. These kits will cover the basics, but they are often only going to cover the basics.
Additionally, if you do make a mistake, fail to complete a section of the will or don’t have it properly signed and witnessed, it can create a legal mess for your heirs. Correcting the issues with a will can be a lengthy and costly process that can be completely avoided by working with an attorney.
Small Estates Don’t Benefit From Estate Planning
While it is true that issues such as tax considerations may not be a factor in a smaller estate, there are still many benefits to meeting with an estate planning lawyer. You can discuss options in setting up trusts for minor children or even starting a trust now that may provide benefits even before your death.
In addition, the attorney can provide you with the option to complete a living will, which can outline how you wished to be cared for should you be unable to make decisions. You can also designate a Power of Attorney for your financial affairs or an individual to make medical decisions on your behalf.
