The estate lawyers and attorneys industry is valued at $16.3bn in 2023. This enormous figure highlights how vital these professionals are when it comes to preparing for what happens to your assets after death.
But what are the advantages of hiring an estate planning attorney? If you’re not familiar with the estate planning process, you may be tempted to try and navigate it without seeking professional legal advice. While this might seem like a good idea to save on costs, there are several crucial reasons why you should consider working with a specialist estate planning lawyer.
Keep reading to learn more.
Organize Your Assets
You may be surprised at how many assets make up your estate, and it’s important to create an accurate inventory. This could include properties, bank account balances, and any debts you owe.
It’s common to organize your assets so they can be allocated after your death. But you could also require professional assistance if you are married and are concerned about what would happen if you were to separate from your partner. In this scenario, having a postnuptial agreement can help protect your assets.
Robust Legal Documents
You could use online services that allow you to complete professional-looking estate planning documents. However, unless you are certain this paperwork is legally binding, this could be an unnecessary risk.
When you hire estate planning attorneys, you can avoid this issue. These professionals can guarantee your estate planning wishes are being recorded in valid legal documents.
Avoid the Probate Process
The probate process can be lengthy and expensive. This can place stress on loved ones at a time when they are already upset. An estate planning lawyer may be able to advise on how to avoid the probate process.
If going through probate is essential, an estate attorney could help you reduce the time it takes and the overall costs.
Expert Impartial Advice
Planning your estate can be an emotional experience, and this could affect your decision-making. In addition, you are unlikely to know the legal requirements for estate planning. But, when you work with a professional attorney, they can give you impartial advice as their judgment will not be clouded.
This can help you reach the right decisions when dividing up your estate.
Hire an Estate Planning Attorney Today
Working with an estate planning attorney can be a critical part of ensuring your assets are properly allocated after your death. A qualified professional can help you prepare a list of your assets, and make sure they are protected using sound legal documents. An estate planning lawyer can also advise if it’s possible to avoid having to go through probate, and give you solid and unbiased advice.
This can reassure you that your estate will be divided in the most cost-effective and efficient manner.
If you’ve found this estate planning article helpful, read more of our informative blog posts before you go.
