If you want to ensure a sound financial future for your loved ones, the first step is to create a will, which establishes who inherits your assets and property when you pass away. While using a template to write your own will may seem like all you need, this might not be enough to ensure your family’s financial protection or grant your end-of-life wishes. For a more thorough plan, you need estate planning services from a qualified lawyer.
What Does an Estate Plan Include?
A good estate plan should do the following:
- Provide instructions for your care should you become disabled or incapacitated.
- Define your financial and medical wishes if you become unable to voice these yourself.
- Name a legal guardian for your minor children.
- Plan for loved ones with special needs.
- Outline who will receive specific assets and property, how and when your beneficiaries will receive them, and who will manage the transfer of assets, thus avoiding probate.
- Create an estate tax plan to minimize the taxes imposed on your loved ones.
Why Hire an Estate Planning Attorney?
You should seriously consider creating an estate plan if you have children, have money in retirement accounts, own a business, want to support certain charitable causes, or have special circumstances to consider. Here’s how you’ll benefit from working with an estate lawyer:
- Customized estate planning: The documents most commonly used to reach estate planning goals include wills, living trusts, powers of attorney, health care directives, and more. Some estate plans involve all of these documents, while others only feature a traditional will. Working with an experienced estate planning attorney can help you determine the best solutions for your family.
- Knowledge of estate laws: You must follow strict laws and regulations when executing a will and other estate planning documents. Hiring an experienced estate attorney ensures your plan is legally sound and will hold up in court.
- Help deciding or modifying your wishes: You may not know exactly what you want or if your wishes can be legally granted. With an attorney’s help, you can sift through the terminology and protocols to ensure your goals align with the law. And if your circumstances change later on, your estate lawyer can amend your plan to fit your new needs.
- Simple conflict resolution: Complicated familial and professional situations may lead to conflicting wishes between you and your beneficiaries. A legally binding estate plan stops disputes before they begin, ensuring your every wish regarding your assets and property is granted after you’re gone.
Start Your Estate Plan Today
After building a life that allows you to provide for your loved ones, you’re wise to protect what you’ve built with a detailed estate plan. The knowledgeable team at Richards & Richards Law Firm in Ogden, UT, is ready to help with every aspect of your estate plan. Our proactive approach defends your interests so you can go forward with peace of mind. Contact us at (512) 461-4836 to request your free legal consultation.