Estate planning is something that you may not like to think about. But, for assets to pass over from generation to generation, it has to be done.
Only about 33% of adults have concrete documents for their estate.
Are you on the fence about formalizing your affairs? If so, here is why you should consider hiring an estate planning firm.
1. Save Time
If you try to organize your affairs yourself, you are most likely going to spend a lot more time trying to figure out what you have to legally protect and how to go about that. With an estate planning lawyer, they will already have the legal knowledge to tell you what you have to write down.
In these situations, the timing could be of the essence, but it can also be a simple convenience to speed up the process.
2. Estate Strategy
Another thing to consider is that you may not know the best way to protect your assets or distribute them.
Say you wanted to leave a large amount of money to someone that was technically not your next of kin but was still a child. Instead of handing them the money all at once, you could give it to the child’s parents, leave it in a bond, or establish a trust fund and assign an executor.
An estate attorney can walk you through every option you have with your assets and possibly open you up to a new idea.
3. Having an Executor
After you pass, you will need someone to be in charge of distributing your assets. This is where an estate planning attorney can come in.
Some good reasons to have a lawyer for this are that they have experience with this, they are organized, and they are most likely going to be the most impartial party out of everybody involved in your affairs.
A firm such as Welch Law Firm can represent your wishes well and professionally in this regard.
4. Knowing the Paperwork
More than likely, unless you are a lawyer yourself, you are not going to know all of the paperwork that goes into settling your estate legally. A lawyer can arrange all of those papers for you and save you a lot of time figuring out how to do it.
Most importantly, if you do make a mistake on one of the papers, it can create a legal mess to try and fix that mistake for your loved ones. A lawyer greatly reduces the chances of something like that happening.
5. Objective Party
Let’s face it; if you have a loved one try and do this, they will be biased towards themselves or perhaps someone closer to them than you. A lawyer eliminates virtually any possibility of this and keeps all of your loved ones on an even playing field.
They can give you advice from the outside looking in and will not get emotional about these decisions.
Hire an Estate Planning Firm
These are just five of the reasons why you should hire an estate planning firm. If you wish for your assets to be protected for future generations of your loved ones, this is the easiest way to do that.
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