Dealing with your estate can be tedious and can be fraught with perils, especially if you don’t know what you’re doing. Estate planning law firms exist to help people manage their estates, whether they have a will or a trust. Having a professional on hand to navigate various laws, nitty gritty details and ensure that your estate plan is carried out is important. One false move on your part could end in tragedy. People make mistakes but attempting to handle your estate without professional guidance is one of the bigger mistakes you can make.
There are 4 big mistakes that people make when it comes to their estate
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Writing Your Own Will
Depending on the state that you live in, handwritten wills may not be considered valid and if your state does allow a handwritten will, you need to ensure that it complies with local law. Handwriting a will is not advisable and if you want your will to be legally recognized and followed to the last letter, you should solicit the advice of a legal professional. Your estate attorney will ensure that the basics are covered. You will also know where the will is kept and will be able to legally update and amend the will. Using the services of a legal professional also ensures that confusion and disputes over the content of your will is reduced. Your attorney will ensure that your wording is specific and easily understood by all interested parties such as your beneficiaries and the executors.
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No Long-Term Planning
Unfortunately, while nobody wants to think about death or disability. It’s an important factor that needs careful consideration. If you were to become unexpectedly incapacitated and unable to take care of yourself, what would happen? Who would take care of you or your family? Who would make healthcare decisions on your behalf? You need to know the answers to these questions, especially if you want the best for not only your loved ones, but yourself as well. Execution of a durable poser of attorney will assure that you have someone whose judgment you trust will handle your matters if you are incapacitated. Without a DPOA, your family might be put in a position of needing to have the Court declare you as incompetent and have a Guardian appointed for you. This process is personally invasive as well as costing thousands of dollars.
If you were to die tomorrow, what would happen to your estate? What would happen to your family? Would your family be torn apart fighting over your estate? Who will cover your debt if you have any? Once again, these are the kinds of questions that long-term planning will be able to answer.
With advice from a legal professional you’ll have peace of mind knowing that you and your family are taken care of in the event of accidental or unexpected disability or death. An estate attorney will ensure that you have every detail covered.
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Choosing a Relative to Handle Your Estate
At the end of the day, no family friend or acquaintance is impartial. Especially if you have a sizeable estate or a blended family. For example, a new spouse may neglect your former spouse or children, or your children could fall prey to unscrupulous relatives who only want their estate. By using the services of an estate law firm, you can rest easy knowing that an impartial party is objectively handling your affairs.
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Using A Non-Specialist Attorney
All attorneys are not created equal, just because a person has graduated from law school does not mean that they know everything about estate planning. You need to make sure that you utilize the services of an estate lawyer who is experienced in estate planning. There are many fine and intricate details surrounding estate planning and using the wrong lawyer, can be costly. Your estate lawyer will need to know how to set up trusts, draft wills, handle probate proceedings and prepare durable powers of attorney, health care surrogates, and living wills among other things.
Don’t make mistakes when it comes to your estate and the future of your family. If you need help with your estate, the trusted and reliable team at Gary I. Handin, PA., have years of experience in estate planning. For more information, contact us toll-free at 1-877-815-4560.