Drafting a Will is something that shouldn’t be avoided. But the main question is whether you can write your last Will by yourself or do you need professional assistance. With so many online templates easily available, why spend money on hiring an attorney when you can draft a Will for free. It is tempting to take the DIY route and write your last Will with the help of online tools. However, a Will is a legal document that can be challenged in court. It can be risky to draft your Will without professional guidance because there are high chances of making legal errors. To make things easier for your loved ones during probate, having an attorney is crucial to ensure that all documents meet the state laws and protect the best interest of your loved ones.
The purpose of writing your Last Will and Testament is to direct who will inherit your property when you die. A will is different from a trust which is managed by a “trustee” for the benefit of the “beneficiary”. An estate plan, will, and trust are all different legal documents but their purpose is similar. All these documents aim to protect your wealth and the future of your loved ones. A minor mistake in drafting these types of legal documents can potentially invalidate them. So, to avoid this issue, it’s highly recommended to hire an experienced Will attorney. Here are some more reasons why hiring an attorney for drafting Will is the best option.
It is possible to draft a will on your own but there is a risk of committing mistakes that undermines the legal acceptance of the document. But attorneys specialize in drafting wills that include all components and are legally binding. The attorney you hire will make sure that the document has legal standing in the court of law. A Will created by a professional can ease the probate process. A DIY Will can be challenged in the court and cause conflict which can delay the procedure. But a properly drafted will ensures your wishes are protected and your possessions are smoothly transferred to the beneficiaries.
Experience in Estate Law
Different states have different rules and regulations. If you want your will to be legally enforceable, make sure it meets all the legal requirements. It may take several days or even a month to grasp the legal terms for drafting your own Will. But attorneys specializing in creating Wills have complete knowledge of estate law. They not only draft an accurate Will document but also guide you on how to achieve your goals and deal with challenging family dynamics. A qualified attorney can also help you with estate planning to get a more comprehensive plan. Estate planning attorneys not only help in creating Wills but also have expertise in drafting health care power of attorney, financial power of attorney, trust, and more.
Update Your Will
Creating a Will isn’t a one-time process. As life keeps changing, a Will also needs to be updated to reflect your current life situation. As you accumulate more wealth and your family situation becomes more complex, you need to update the document to fit your present situation. Whether you got divorced or have children from two marriages, make sure your Will accommodates those changes. Only experienced estate planning attorneys can draft and review a legally binding Will that suits your unique situation.
Minimize Tax Burden
Every individual is unique and has different estate planning needs. Some have more wealth than others. Based on the size of your estate, there is a tax implication that your beneficiaries have to bear. But Will attorneys have in-depth knowledge of estate law that helps them in finding a way to reduce the tax burden that your beneficiaries may face as inheritance tax.