Estate planning involves distributing your assets after death to such people or causes according to your wish with minimum legal complications and the least tax incidence. And estate planning is not just for the wealthy; nor is it something to be contemplated when you reach the ripe old age of eighty.
As a result, an increasing number of people want to avoid paying for the services of an attorney for this type of law. What they don't realize is that estate planning is a complex business.
All it takes is a single missing signature or incorrect word to alter a will or trust's entire content. Keep reading to discover three compelling reasons why it is necessary to hire an attorney for estate planning. If you want to hire a best Estate Plan lawyer at an affordable price then you call us at 801.951.0500.
Specific State Laws
Every state has its own laws when it comes to determining who can and can't be in a trust, will, medical power of attorney, or financial power of attorney. There are also differences between the formalities that need to be observed when signing an estate planning document.
This is an old Latin saying that means "buyers beware." The evolution of the Internet has led to a plethora of legal documents easily available online. This may make legal representation appear unnecessary. The trouble is that you can fill in your online forms quite happily, only to discover that part or all of your trust will, financial power of attorney, or medical power of attorney is either invalid or doesn't work as you expected. If this happens, your family may need to pay thousands of dollars to fix the mistake and will end up hiring an estate planning attorney in any case.
As we mentioned above, estate planning is a complex business, and if you own a business, are in your second marriage, have no children or children who are still minors, want to leave money to charity, or have real estate in another state, you will need the advice of an estate planning attorney. Indeed, there are dozens of other situations not outlined above where things can get complicated quickly.