Drafting a will is one of the most procrastinated about tasks of all time. Nobody wants to confront the prospect of their passing and what it will mean for their loved ones. But drafting a will is also one of the best things you can do to simplify the grieving process for your family and assuring that your assets are distributed upon your death in accordance with your wishes.
The first decision you need to make about your will is whether you’re going to draft it yourself, or whether you’re going to hire an attorney who is experienced in drafting wills to draft it for you.
Let’s take a look at the factors you should keep in mind when deciding whether to call in legal experts:
The Nature of Your Asset Portfolio
The extent and nature of your assets should be one of the primary considerations guiding your decision. If you own a number of properties or have a complex and significant investment portfolio, hiring a wills attorney is strongly recommended.
An attorney will be aware of the specific considerations that need to be taken into account when distributing these kinds of assets. They can also advise you on options you might not have considered yourself, such as creating a testamentary trust.
However, if you have a relatively small and simple estate, your will should be relatively straightforward and less risky to draft yourself.
The Number And Circumstances Of Your Beneficiaries
If you intend to leave all your assets to one person, your will should be fairly uncomplicated. If you are married, there are other requirements of the law that must be met. However, if you intend to leave your assets to several different people, you should consider hiring a lawyer to draft your will for you.
Language is a lawyer’s craft, and they will carefully word each clause to make your intentions in respect of each beneficiary crystal clear. If some of your beneficiaries have special circumstances (for example, are minor children or have special needs), a wills attorney will also help you tailor the distributions in your will to suit their circumstances.
If you’re worried about what will happen to your dependents after your death, seeking the advice of a lawyer is one of the best things you can do to give yourself peace of mind. A lawyer will also help you think through various possibilities which you may not have considered. For example, have you thought about whom your assets should go to if a beneficiary predeceases you? Or whether you want your assets to be excluded from your beneficiaries’ marriages?
The Expertise Of A Wills Attorney As Always An Advantage
There is a reason why lawyers tend to be assessed by their years of experience. No matter how straightforward your affairs might be, you will always benefit from talking through your wishes with a lawyer.
Wills and trust lawyers work with all kinds and sizes of estates; they will know from experience the snags to avoid when drafting your will. They have the expertise to foresee potential problems with your planned distributions and suggest alternatives that will work best for you.
Wills attorneys can also give you advice on particularly tricky clauses, such as a life estate clause.
Don’t Delay On Drafting Your Will
If you’re unsure about whether you need a wills attorney to draft your will, don’t hesitate to reach out to the offices of Gary I. Handin, PA. We have years of experience in providing wills and trusts advisory services. We will go out of our way to give you peace of mind about the estate planning process. Contact us today at 954-796-9600.