Estate planning can be a complicated matter. A missing signature or a single mistake in the use of a word in your will or trust can significantly affect the document’s purpose. This is the reason anyone who is not familiar with the processes and businesses involved needs help from a legal expert – an estate planning attorney.
Specifically, what are the reasons you need to find yourself an estate planning lawyer? Here are the answers.
State laws rule estate planning
While estate planning sounds like a personal thing, remember that there are certain state laws governing it. The law has particulars as to:
- what can be included in a will or trust
- the qualifications of witnesses to a will or trust
- the formalities to be observed when signing a will or trust
- the eligibility of personal representatives or trustee
This is why you need someone who specializes in this area of the law; someone who has a better understanding of such particulars.
You can’t afford to go wrong
The complexities involved are enough reason estate planning isn’t like any DIY project. You’ll be tempted to just grab forms online and fill them out to save time and money. According to estate planning lawyers in Utah though, many people who go for such option end up making mistakes with their wills and trusts. When an error is made, it’s either your estate planning won’t work as you expected or it wouldn’t be deemed legally valid.
Issues may affect where your estates go
Family and financial situations of the past, present, and even future must also be considered when it comes to estate planning. This includes whether it’s not your first marriage, you were divorced recently, you have several businesses, you have real estate in other states, and whether or not you have a child. An estate planning attorney can help you create the necessary documents to make the most of your estate. When you fail on this, a big part of your estate would just go to the IRS and/or your state’s revenue department.
Seek the help of an estate planning lawyer today for more information.