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Is an attorney necessary for your estate plan?

On Behalf of | Apr 15, 2024 | Estate Planning

Estate planning is an important process that defines how you want your assets distributed after you pass away. It also helps minimize potential conflicts among your beneficiaries and reduces the tax burden on your estate.

However, you may wonder if it is truly necessary to work with an attorney for your estate plan.

The complexity of estate planning

Estate planning can be a complex process, especially if you have a diverse range of assets or a complicated family situation. It involves various legal documents, such as wills, trusts, powers of attorney and healthcare directives. Each of these documents has specific requirements and must be properly prepared and executed to be legally valid.

The benefits of professional guidance

While it is possible to create an estate plan on your own using online resources or DIY kits, there are several advantages to working with an attorney. Mistakes in your estate planning documents can lead to unintended consequences and may even render them invalid. Estate planning attorneys have in-depth knowledge of the legal requirements and can help prepare your documents for execution.

The risks of DIY estate planning

While DIY estate planning may seem cost-effective, it can lead to several risks. Estate planning documents drafted incorrectly can render the documents legally invalid. In addition, without a thorough understanding of estate planning laws, you may make decisions that have unintended tax or legal consequences for your beneficiaries.

The peace of mind that comes with knowing your estate plan is correctly prepared and executed is well worth the investment in an attorney’s support.