Although you aren’t required by law to hire an attorney to assist you with the estate planning process, you should strongly consider doing so. The reason for this is simple: attempting to navigate the estate planning process by yourself can do more harm than good. In fact, a single misstep during the process can have major negative consequences for you and your loved ones. In this article, we provide four reasons you should hire an estate planning attorney.
#1: The Law is Complicated
There are many legal requirements to which you must adhere when drafting a will, trust, power of attorney, or other estate planning document. Without an estate planning attorney to help you draft these documents, your likelihood of making mistakes is high. When you hire an estate planning attorney to assist you, however, you can rest assured that all your estate planning documents are well drafted and legally sound.
#2: Determining What to Do with Your Assets Can Be Difficult
Determining what to do with your assets after you pass away can be challenging without legal guidance. Luckily, estate planning attorneys help clients make these types of decisions all the time. So, when you hire an attorney to guide you through the estate planning process, you benefit from his or her knowledge and experience, thereby making the decision-making process much easier.
#3: An Attorney Can Review and Update Your Estate Plan
Estate planning isn’t a one-time event. However, without the assistance of a lawyer, it can be difficult to determine when to amend your estate plan. On the other hand, when you hire an estate planning lawyer to assist you, he or she will work with you to ensure that your estate plan always remains current.
#4: An Attorney Can Help Save You and Your Beneficiaries Money
Although hiring an attorney costs money, failing to hire an attorney can be far more costly in the long run. Any mistakes you make during the estate planning process can have negative financial consequences, and the best way to avoid these consequences is to work with an experienced estate planning attorney. In addition, an attorney can structure your plan in a way that reduces the financial burden on both you and your beneficiaries.
Contact a Michigan Estate Planning Attorney
Estate planning is one of the most important things you can do for yourself and your loved ones. Attempting to do it yourself, however, usually isn’t a wise decision. At Keating Law, PLC, attorney Thomas Keating is here to help you create an estate plan that is right for you. When you come to Keating Law for assistance, we will walk you through each step of the estate planning process, ensuring that you and your loved ones remain protected for years to come. If you are ready to begin the estate planning process, please contact us today to arrange a free initial consultation.