When Do I Need To Hire A Valparaiso Estate, Will, And Trust Attorney?
There are all sorts of information out there about how to write your own will. But the primary problem is this: are you sure it will be legal? If you created a DIY will at home, how certain are you that you followed all the applicable laws?
A will is a lot more complicated than you think. It’s not like you can simply write, “Give my kids everything” then call it a day. A will is also used to:
- Name an executor (the person responsible for carrying out the terms of the will)
- Designate guardians for your children if you die while they’re still minors
- Indicate who should be in charge of your children’s property
- Provide a caretaker for your pet
- Set up trusts, forgive debts, and more
So creating a will at home may be an option, but it’s certainly not the best one. By doing it yourself, you’re taking the chance that your will might be declared invalid. If your will is deemed invalid by the court, then state laws will dictate what happens to your assets.
But that’s just one reason to hire an estate attorney to help put your affairs in order. Here are a few more:
1. Your Estate Attorney Can Help Keep Your Will Updated
A will is not a static document; it needs to change with the circumstances of your life. Did you get a divorce, have another child, or inherit some property? Then your will needs to reflect those changes. An estate attorney can help ensure that every necessary adjustment has been made.
2. Working with an Estate Attorney is Affordable
If you haven’t worked with an estate lawyer before, you might be under the impression that it costs a lot of money. That’s actually a misconception. While lawyers do charge to help plan your estate, you might be surprised at how reasonable the fees are. Just ask before setting an appointment; you should be given a general idea of how much the services will cost.
3. An Estate Attorney Does More than Just Write Wills
When most people hear the term “estate planning,” their mind automatically thinks of writing a will. Of course the will is an essential legal document, but it’s just one part of an estate lawyer’s job. They can also help you:
- Set up a power of attorney for healthcare indicating who will make decisions about your medical care if you become incapacitated
- Put a financial power of attorney in place to signify who will take charge of financial decisions if you’re unable to
- Establish a living trust to avoid the delays and costs of probate
- Find ways to reduce or eliminate estate tax whenever possible…and more