At Northland Elder Law in St. Joseph, Missouri, an estate planning attorney will listen to your needs and assist with preparing a plan that meets your individual situation and budget. Hence, our law firm understands that each client has a lifetime of experiences and wealth worth preservation.
When seeking professional assistance with estate planning, it’s important to know the benefits of hiring an attorney. Read on below to learn 5 reasons to hire an estate planning attorney.
An estate planning attorney will help you navigate through the tangled web of options in an effort to reach your goal of providing for yourself and your loved ones. Whether this involves learning about the probate process or how to best transfer assets to beneficiaries. Additionally, they help you with a plan for those who will someday receive the benefits of your success.
5 Benefits of hiring an estate planning attorney
Estate planning is not just about drawing up some documents. We consider documentation as a by-product of the relationship with our client. First, we need to understand the client’s goals. Second, the tools need to be in place for meeting the goal(s). Guiding and counseling about the wide variety of financial choices is perhaps where we excel most. Here are some of the types of opportunities to be included in your planning:
- Life insurance
- Retirement account
- Brokerage account
- Health Insurance
- Debt and personal property
When you’re guided by an attorney, you’ll have peace of mind that your assets or estate will be handled according to your wishes. Also, the attorney understands that no two estates are the same, so every case is handled differently.
Update documents as necessary
Wills and other estate documents should be revisited quite often. And, as the financial situation changes, you should make the necessary updates. Sometimes, a simple amendment to trusts or codicil to a will fit the bill. It makes sense to reevaluate your plan for current needs. A good attorney will give advice and help you perform an estate tune-up. When your current financial situation needs a more specific estate plan, you may want to discuss the following documents:
- Revocable living trust
- Living will
- Advance medical directive
- Power of attorney
Documentation and the law
You cannot afford to make errors in estate planning as it will cause problems in the future. These problems, perhaps costly financially as well as emotionally can be avoided. With an experienced estate planning attorney, you can be sure you’ll have error-free documents that follow the laws of your state.
Gives peace of mind
When you’ve prepared all the legal documents, you don’t have to worry about what will happen next. An estate attorney is a resource you can trust even when you have the most difficult questions. This is a simple way of eliminating all the doubts you may have in the planning process. Peace of mind, given during turbulent times, is priceless.
Whether you’re planning your own estate or that of a family member, you should not guess your way through the planning process. Saving, perhaps thousands of dollars, by hiring an experienced attorney is welcomed by most people. For example, being eligible for Medicaid requires knowing the difference between “countable” and “non-countable” property under current rules. An estate planning attorney with experience can help get the benefit you deserve.