Who Is An Estate Planning Attorney?
An estate planning lawyer or attorney is an individual who is well-aware and well-versed in all estate planning laws. They specialize in state and federal laws, so you don’t have to worry about your family’s safety after you pass away or are declared incapacitated. They can help you draft an estate plan, advise how to create the most suitable one for your family, and create all your legal documents. The plans created by an estate planning attorney ensure that all your wishes are noted down in a way that complies with all the legal rules and regulations.
What Does An Estate Planning Attorney Do?
An estate planning attorney ensures that all your wishes are being fulfilled. They are experts in creating plans to help you save all your assets from heavy state and federal taxes and probate court. They will help you create an estate plan that will ensure the protection of your family and assets. Situations and documents an estate planning attorney can help you deal with are:
Last Will And Testament
A testament and last will is a legal document that records your last wishes and what part of your asset will go to whom. Also, your will can include a guardian for your young children or pets. An estate planning lawyer can assist you in creating a will and adding all your designated beneficiaries.
Choosing Beneficiaries
For all your investment and bank accounts, you can add beneficiaries. These beneficiaries will receive the account’s funds directly without going to the probate court or trust. And on top of that, you will also have to choose beneficiaries for your life insurance policies. Creating retirement, investment, or any such account can help you save taxes, and your beneficiaries will receive the funds rather quickly.
Living Will
A living is the type of document wherein you can mention all your wishes. These wishes can be your end-of-life wishes, where you can specify what you want your family to do after you pass away or if you are declared incapacitated. It can include organ donation, last rites, or funeral preparations.
Durable Medical And Financial Power Of Attorney
A power of attorney paper lets you name individuals who can make financial and medical decisions when you are declared incapacitated. These documents help you plan for all your medical and financial emergencies in advance and ensure that everything is taken care of.
Trust
A trust fund is a way of minimizing the taxes on all your assets. It lets a trustee of your choice take care of all your assets on behalf of one or more of your beneficiaries. A trustee ensures that all your funds are properly managed when you are alive or not here to manage all your work.
Read Also:- Why Estate Planning Is Important, And Who Needs An Estate Plan?
Why Do You Need To Hire An Estate Planning Lawyer?
There are some very important benefits of hiring an estate planning lawyer when creating your will or any legal estate planning document. These benefits include things like:
- Customize your estate plan to fit all your needs, and suggest the best ways to make your plan more effective.
- They are experts in their field, so they understand the workings of the court and are aware of all the laws. These expert attorneys are well-versed with all the new and old estate planning laws, so you don’t have to worry about probate court.
- Estate planning lawyers are experts in helping you avoid probate court, which is a very expensive, long-term, and tedious process.
- They can help you set up your trust funds so that you and your family can access your assets when you are no longer with them or are declared incapacitated to make your own decisions.
- They can help you reduce the taxes that you have to pay to the government.
- A lawyer can also help you appoint a durable power of attorney for financial and medical needs.
- They can help you draft all your documents and add proper beneficiaries.
- Help you in meeting with the beneficiaries and going through the will.
When You Might Need An Estate Planning Lawyer
Hiring an attorney to create your estate plan is a smart idea. It helps you avoid any mistakes in your estate plan. There are also chances that you already have an estate plan, but if you shift to another country, you may be required to change your plan accordingly. Similarly, there are several reasons why you might need an attorney to draft your estate plan, like:
- If you have your home, cars, boats, or any other asset in a different country.
- When you want to establish a trust
- If you have any family member who can oppose your will.
- When you have a joint or large family.
- If you have your own family company or have properties you invested in.
- When you are worried about paying too many taxes on your assets
- If you have any minor children or pets who need to be taken care of
Why Choose Estate Planning With Nirva
At Estate Planning With Nirva, we have experts who understand the importance of estate planning. Our lawyers are well-versed in all estate planning laws. We can help you create a customized estate plan that fulfills all your requirements. And if you are worried about how expensive it will be, create an estate plan that best suits you; then, you can leave it all behind because we offer affordable service. Moreover, our legal experts can help you avoid probate court and extra taxes.
Our estate planning software helps you create your estate plan with utmost flexibility, diversity, and detail. All you have to do is answer just a few questions, and you will get your estate plan. All our drafted estate planning documents are made in easy language, so it is easier for you to understand them properly. Also, one more benefit of using our estate planning software is that you can make as many changes as you want over the years. Our services can help you save money and time and safeguard your loved ones.
Conclusion
An estate planning attorney or lawyer is an expert in estate law. They can guide you through all the important decisions you must make while creating your estate plan. An attorney can help you navigate through the whole process. Whether you are looking to draft a new estate plan, renew your old one, or want guidance with your document creation, an attorney can help you do it right. An attorney can help you avoid taxes and probate court and safeguard your family’s future.
To create your estate plan, get in touch with Estate Planning With Nirva today. You can call us at 844-995-8155 or send an e-mail to info@estateplanningwithnirva.com.