Your last will and testament: This morbid subject, although essential, is one that most people prefer to avoid.
Fortunately, you don't have to give this too much thought. It's the role of an estate planning attorney to take care of all the legalities surrounding this matter. On your behalf, they'll draft your will according to your wishes, and all you need to do is check it out to ensure that everything is in order.
Here's a brief look at what a lawyer in this field can do for you.
What’s the Role of a Wills and Estates Lawyer?
The role of this type of lawyer is to advise clients on getting their affairs in order. This isn't just for when they pass away but also for the possibility of mental disability. Attorneys specializing in this field are responsible for the following:
- Drafting living trusts
- Last will
- Mitigating or avoiding estate taxes
- Keeping your assets and life's savings free from your beneficiaries' creditors after your death.
- Preparing a power of attorney and health care directives in case of mental incapacity. This helps you to avoid conservator or guardianship issues should you need someone else to take care of your affairs.
Which Qualities to Look for in an Estate Planning Attorney
There are many legalities involved in estate planning. For this reason, you should consider employing the services of an attorney that specializes in this field. Therefore, it's essential to look for the following:
- A practice devoted to estate planning.
- Someone that makes you feel comfortable to share the intimate and intricate details of your life and concerns. This'll ensure that your testament meets your expectations and needs.
- A well-versed lawyer, preferably operating in the same region as you reside, confirms that he is familiar with the state laws and regulations. This'll avoid the possibility of the court deeming your will as invalid.
What’s the Best Way to Find a Wills and Estates Lawyer?
Although it's relatively easy to find an attorney specializing in this field, it's crucial to find one you're comfortable with and trust. It's suggested that you get a reputable referral through your accountant, financial advisor, or the state bar association.
It's also essential to interview several different attorneys to ensure that you employ the services of someone with whom you can communicate effectively.
Why Is it Necessary to Have Your Will Drawn up by a Professional?
Many people make the mistake of believing that the last will is reserved only for the rich and famous. This, however, is a fallacy. Here are some of the many reasons why everyone should have a testament in place:
- You can leave clear instructions as to what happens to your assets.
- Keep your belongings out of reach of the people you want to have anything.
- You can nominate someone to be the guardian of your children if you have any.
- Efficient planning saves your estate money on taxes.
Leave No Room for Speculation
Although you can set up your last will yourself, it's not advised. There are many legalities involved that can quickly nullify your wishes or result in severe unnecessary costs. Therefore, it's essential to employ the services of a wills and estates lawyer.
An attorney specializing in this field will ensure that your wishes are met and that there's no room for speculation.