Why hire an estate planning attorney when you can draft an estate plan on your own? While an estate plan isn’t too complicated at first glance, it can involve a lot of details that you might have trouble with. Estate planning includes planning for incapacity, for the event of the property owner’s death and for a variety of other normally unforeseen problems which, however, have to be considered in the estate planning process.
The possibility of hiring an estate planning lawyer is one that most experts would recommend. While considering an estate planning attorney can be an added expense, it will also provide you with several important benefits that we will cover in the following.
The Advantages of Hiring an Estate Planning Lawyer
Why hire a Denver estate planning attorney? First of all, a reliable expert can help you get through all the details of estate planning in one piece. With their help, you will more easily manage your estate and organize the estate planning process. The attorney knows all about how state and federal law would influence the way in which your estate would be inventoried, and they can assist you with a variety of crucial tasks:
- With the lawyer’s help, you can establish durable power of attorney and medical power of attorney in the event that something happens to you.
- A dependable lawyer will also be able to give you all the details regarding how to draft and complete your will.
- You’ll know how to designate beneficiaries and set up any trusts you might require in order to protect your assets.
- A knowledgeable estate planning attorney can also help you manage your estate more efficiently, so you can avoid the probate court and avoid having to pay estate tax as well.
With the help of an experienced lawyer, you can create a detailed and complete estate plan that doesn’t allow for any discrepancies. You’ll also get viable and accurate answers to all your questions and concerns, and you’ll gain assistance from a professional who has had experience dealing with local and state laws on a regular basis for the past years or even decades.
Should You Hire an Estate Planning Attorney?
In most cases, the main reason why you might want to hire an estate planning lawyer is to remove any doubts or concerns regarding the estate planning process. Without a detailed and accurate estate plan, the probate process could be lengthy and cumbersome, and it might even end up removing some of your assets. Also, estate taxes can be quite steep, and without a properly drafted will, your belongings could end up going to the wrong beneficiaries.
If, as the owner of your estate, you feel comfortable risking any of these issues, then an estate planning attorney is not for you. On the other hand, even if you’re interested in making a more informed choice, and you’re still on a fence about hiring an attorney, it might still be a good idea to at least contact a local estate planning lawyer, ask about the estate planning process, and make your final decision based on a greater amount of information.