Before passing on, many want to be sure that their loved ones receive the collective sum of what they own. In this video, an attorney talks about why estate planning lawyers are essential in preparing documents such as wills and trusts, and why they are a better option than online solutions. The first benefit of hiring an estate planning lawyer is to avoid a costly probate process. This ensures that the asset distribution process (probate) is smooth, quick, and exactly as the testator had wished.
The other benefit pertains to the fact that online documents or other DIY options may not account for changing legislation. An estate planning lawyer will keep estate planning documents updated, and they will also be available to make amendments as needed – e.g., if the testator goes through substantial life changes like divorce, major purchases, etc. Thirdly, estate planning lawyers will conduct a thorough asset review and help testators navigate federal and state tax laws so that most of the estate goes to the beneficiaries, not the government. Finally, estate planning lawyers can be a trustworthy resource and advisor to beneficiaries during the difficult event of a death.