As legislators find more and more areas to regulate, laws have become much more complex than just a few years ago. It’s not unreasonable to speculate that this trend will continue and laws will become still more complex over the next years. It is for this reason that experts agree that you shouldn’t gamble with your family’s future in terms of ensuring that assets are properly transferred to your loved ones. An experienced estate planning attorney can help to ensure a smooth transition to the intended beneficiaries of your estate, and avoid costly and time-consuming problems that make wealth transfer unnecessarily difficult.
Those with simple estates may not need a great deal of estate planning, but more than likely, they still need some, and having it done by a professional can save time and money at the time that it’s needed. Many people believe that they can save money by downloading documents online. This can often result in a defective estate plan, which can take much more money and time to unwind that simply having it done properly on the front end.
For some clients, a trust may be the most appropriate estate planning tool to use. Without the input of an experienced estate planning attorney, you may not know if you need one, or if so, how to properly structure it so that it does not end up being null and void.
For those with significant estates, the very real possibility of having to give a large portion of your estate to the government in the form of estate taxes should be reason enough to seek professional assistance.
Ultimately, it’s your choice. However, your loved ones will be appreciative if you ensure that your desires are properly documented.