5 Reasons To Hire Chandler Estate Planning Attorneys
Are you searching for Chandler estate planning attorneys? You can read about some of the most common reasons to hire these professionals.
Even though more than half of Americans believe estate planning is at least somewhat essential, only 33 percent have a will or living trust.
The estate planning process is among the most crucial things you should do. The process ensures your family will honor your wishes after you can't manage affairs or once you die.
In our digital age, don't DIY estate planning since there are Chandler estate planning attorneys to help with your estate planning needs.
You might want to work with low-cost law service providers at times. But, for the best results, you should hire a professional estate planning attorney.
Keep reading for five reasons you need to hire an estate planning attorney in Chandler, AZ.
What Should a Good Estate Plan Consist Of?
Most people assume that having an estate plan means writing a will or creating a living trust. But, you have to include much more in your plan to ensure a seamless transfer of your assets after you die.
Here are the things you should include in your estate plan:
- The naming of a guardian to minor kids
- Instructions for your care in case of a disability or incapacitation
- Plan for special needs loved ones
- Protection for family members needing future protection from divorce or creditors
- Pan of minimizing taxes, court costs, and legal fees for your family
- Will or trust
- Letter of intent
Now that you know what to have in your estate plan, does it measure up? Ensure you have everything on the above checklist on your estate plan.
But, an attorney will guide you through every step of your estate planning journey.
Here are the reasons to hire Chandler estate planning attorneys:
1. They Will Ensure all Vital Documents Are Up-To-Date
Most people often think drafting a will or trust will be a one-time endeavor. But, decades can pass from the documents' drafting date and implementation.
You will find that your goals and wishes might change during that time and may look very different from what you originally intended.
Here are a few life changes that will call for an estate plan document update:
- Major purchases like a property
- Death of a spouse
- Starting a family
- Retirement plans
- Starting or selling a business
Note that even a change in your financial circumstances will need you to review your estate documents. That's because you want to minimize the impact of taxes and probate costs on assets.
An estate planning attorney will suggest the relevant changes and keep reviewing your documents. The estate planning attorney will ensure your records reflect your will and estate reality.
2. Cost-Efficient for Your Beneficiaries
Deciding to use online legal services instead of an estate planning attorney will be expensive for your loved ones down the line. Also, creating the estate plan yourself has many risks, like the court rejecting the documents.
There can also be illegible signatures and misspelled words on your documents. You will create a financial burden for your family if they ever need to consult with an estate planning attorney.
Hiring an estate planning attorney will remove the potential financial strain on your family. Also, the distribution of your assets will be according to your plan.
3. Help Avoid the Long and Costly Probate Process
The court probate process involves transferring a dead person's estate to the rightful beneficiaries. The process can be very costly and might even take two years.
The court proceedings are also very public – anyone can receive copies of your Will and other legal documents. They will use a Small Estate Affidavit to transfer assets to your legal heirs.
But, the probate process is unnecessary even though you don't have trust. Once you designate all your assets to your beneficiaries, you can avoid probate.
But, if you choose that route, some entities might refuse and open probate or litigation. The affidavit is often two pages; at times, entities don't understand how it works—they end up releasing funds to the wrong people.
The probate process can be pretty complicated. But, a Chandler estate planning attorney knows all about the probate process and will guide your loved ones should the need arise.
4. A Resource for Your Loved Ones in Case of a Difficult Situation
It's good to note how a DIY approach will affect your family. The estate plan documents are relevant during a tough time when your family is grieving.
That's not a time they should be navigating the complexities of legal documents. Hiring a professional estate planning attorney will help your family during this time.
The attorney can answer all questions and will make it easy to carry out all your wishes. In addition, your family will enjoy peace of mind since they will be in good hands.
Hiring an estate planning attorney is specially important if you are planning to apply for government benefit like Medicaid or disability.
5. You're Uncertain About the State Laws
Note that each state has different rules and regulations. You will know all about your estate planning state laws by hiring an estate planning lawyer.
Also, people have different needs, but the DIY route where you plan online gives each person a single plan. But, a professional lawyer will help in planning according to your needs.
You will have a plan based on the state guidelines. That is specially important if you have property in multiple states.
Hire the Best Chandler Estate Planning Attorneys
Unfortunately, the do-it-yourself route will only leave behind problems for your family. Chandler estate planning attorneys will provide you with a plan for your future needs.
Do you want to hire an estate planning attorney in Chandler, AZ but don't know where to start?
At Citadel Law Firm, we coordinate estate plans, investments, life insurance, and retirement planning. That way, you will prepare for an uncertain future.
We also created an estate planning checklist for the Arizona State, click here to see it.