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Why Do I Need an Attorney for Estate Planning?

Being an experienced estate attorney in Wisconsin, a common inquiry I get all the time is, "Would I be able to compose my own will? Do I really require a lawyer?" Well, it’s a reasonable question.

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Why Do I Need an Attorney for Estate Planning?

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  1. Why you Need an Attorney for Estate Planning?

  2. What is Estate Planning Estate planning is the process of anticipating and arranging, during a person's life, for the management and disposal of that person's estate during the person's life and at and after death, while minimizing gift, estate, generation skipping transfer, and income tax.

  3. Reasons Why You Need an Attorney for Estate Planning: • Saves Time and Energy • Require more than a Will • Saves money • Objectivity • It’s complicated • One Shot • Constant in your life is a change • Estate Lawyers Can Help Sort Out Complex Family or Financial Situations

  4. Saves Time and Energy Handing off the perplexing task of drafting a careful estate plan to a responsible expert will mitigate a massive burden on you. It’s a ton of work to compose an estate plan.

  5. Require more than a Will Always remember, you don’t simply require a will, you require an estate plan. While the two terms “estate plan” and “will” are frequently used interchangeably, this isn’t right, as they are two distinct things. An estate plan is a set of legal records to get ready for your disability or death. A will is only one of those documents, but an essential one.

  6. Saves money • Estate ends up paying more in the long run in professional charges, duties and court costs. • Utilizing a flat rate with lawyer will be significantly clear for long-term economic advantages.

  7. Objectivity • If you will have an attorney on your side, you will bring that additional voice of reason as a powerful influence on present and future estate planning needs. • Is it a smart thought to leave your whole estate to your dog Buster? • Is your 18-year-old child really mature enough to deal with your IRA which is of worth a million dollars? • A legal advisor can give you immediate, unvarnished, and fair guidance.

  8. It’s Complicated • It is half art and half science. Each word, every phase, can undo an estate plan. • The law is powerfully changing constantly. The government, organizations like the IRS, and courts at each level are changing the rules of the games always.

  9. One Shot • Number of chances do you have to get your estate plan right? One! There is no additional chance. • If, you write your own particular will and overlook or forget a key necessity, and then something happens, there can be no do-over. It’s finished.

  10. Constant in your life is a change • As your life change, your estate plan must adjust. Maybe you move to another state. Possibly you have a child and then some more children. • The children grow up and have children of their own. All through, maybe you divorce or get married again. Your financial circumstance significantly changes. • All these life occasions and many more, require changes to your estate plan.

  11. Estate Lawyers Can Help Sort Out Complex Family or Financial Situations Take a look at your life and your assets to see if you fit into one or more of the following categories: • You own one or more businesses • You own real estate in more than one state • You have a disabled family member • You have minor children • You have problem children • You want to leave some or all of your estate to charity • You recently lost a spouse or other family member • You have a taxable estate for federal and/or state estate tax purposes

  12. Need an Attorney for Estate Planning? Contact Us Phone: (262) 812-6262 Toll Free: (866) 865-3306 Fax: (480) 969-0079 Email: info@elderlawcenterwi.com Address: 125 N. Executive Drive, Suite 210,  Brookfield, WI, 53005 Website: http://www.elderlawcenterofwisconsin.com

  13. SocialMedia Channels https://www.facebook.com/ElderLawCenterOfWisconsin https://twitter.com/elderlawcarewi https://plus.google.com/+ElderLawCenterOfWisconsin

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