Expertise in estates, trusts, and probate is the focus of an estate planning attorney. You should retain the services of an attorney to assist you in drafting the typical estate planning documents and provide you with tailored guidance that considers your unique circumstances and goals.
Who Needs A Will Or Estate Plan?
Everyone. It is a common misconception that only senior citizens and retirees require an estate plan. Since we have no way of knowing how long we will live or if we will become ill or have a severe accident, it is essential to have an estate plan in place. Most of us will become temporarily incapacitated due to our increased longevity.
Furthermore, even middle-class people should consider estate planning. Those with fewer possessions may benefit more from an estate plan. Most households’ primary goals in estate planning are protection against incapacity and death and considering family dynamics.
How Much Does An Estate Planning Lawyer Cost?
The legal fees associated with estate planning charge a flat rate. You can expect to pay more for complex matters like acting on your behalf, resolving disputes, etc. The cost depends on the specific services you require and your location in the country.
What Does An Estate Planning Lawyer Do?
· Prepare Last Will
A Wills & Trust Attorney makes a last testament, where you can state your final wishes for managing your estate. You can use it to choose a guardian for your kids or name a beneficiary for your assets.
· They Revise Estate Plan As Needed.
Situations and preferences can shift as you go through life whenever there is a significant change in your life — a divorce, the arrival of a new child, a marriage, a change in relationships, or family dynamics. You should update your estate plan periodically to ensure it still addresses your goals and those of your loved ones.
Hiring an Elder Law Attorney San Antonio can save your life in many ways. For example, they will help you avoid making expensive mistakes, have in-depth knowledge of the estate planning process, and act as your advocate.
· They Will Make A Will To Provide For A Disabled Relative
There could be exceptional situations for some. One possible scenario is having a child with special needs who would lose public benefits if they inherited money outright.
However, proper estate planning and specialization in legal matters are required to establish a special needs trust. Suppose you want to ensure your family member is cared for and can use your legacy to supplement their meager public benefits. In that case, you should consult a lawyer specializing in special needs trusts.
· Save Your Time And Help Avoid Common Pitfalls
Creating an estate plan allows you to compile all your essential documents and final wishes in one place. After passing, your loved ones can quickly and easily access vital documents like titles, insurance policies, and beneficiary designations. Planning can also help you identify and address problems while you’re still around to do something about them.
· Lawyer Will Provide Neutrality
Emotions can run high when planning one’s estate. Family dynamics add another layer of complexity to making the right decision. Estate planning lawyers can act as a third party’s objective sounding board when making decisions affecting your present and future well-being. What they tell you will be honest and objective, and it could save your family’s life.
· Beneficiary Selection
You may designate a beneficiary to receive the funds in certain accounts, such as a bank or investment account. Without a trust or probate court involvement, the heirs will get the assets directly. If you have life insurance, consider who you should designate as the beneficiaries.
What Can I Hope From My Estate Planning Attorney?
An Estate Planning Attorney San Antonio can help you legally validate your life and documents. If you don’t get professional help, your loved ones will be left to sort out your affairs without clearly understanding how to divide your assets. After speaking with an attorney about estate planning, you should have everything in place to rest assured that they will fulfill your wishes, barring the need to change one of the documents.
Find A Reliable Estate Planning Attorney
In addition to looking for one online, you can get referrals you know and trust. Since estate laws vary from state to state, it’s best to consult a local attorney on estate planning.