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An Estate Planning Attorney can educate you on the best options to help you avoid unnecessary expenses and ensure that you planning objecives are accomplished either through a Will Based Estate Plan or Trust Based Estate Plan. Our attorneys goal in estate planning is to reduce the monies and expenses that our clients pay in establishing their plan, ensure that their plan protects them during their lifetimes, and protects their loved ones when their gone. Also, it is always our goal that the property and bequests go as our client’s intended.
A lot of people wonder if the fees paid to an estate planning attorney is justifiable when there are online programs like Legal Zoom and Nolo. The simple answer is YES! Our attorneys spend countless hours analyzing our client’s objective whereas these online complanies are selling do it yourself products that effect the most important Assets of your life…You and Your Family!Every person’s estate is unique no matter how big or small and requires careful analysis by a highly trained estate planning attorney. According to Consumer Reports in regards to the online do it yourself programs they say as follows:“None of the will-writing products is likely to entirely meet your needs. And in some cases, the other documents aren’t specific enough or contain language that could lead to 'an unintended result'."
We have clients call up all the time and tell us that they need to “get a will” and get their affairs in order. I typically smile when I hear this because I know that chances are they have not done any research and the just assume this is what they need. I require my clients to come in and set down face to face to determine my client’s needs. I require my clients to complete a detailed questionnaire so I have a overall view of the big picture. In some cases a will based estate plan is the proper course of action. However, in other cases a will based plan could lead to devastating and costly results to the client. It is very important to assess the client’s overall objectives and needs before determing if a will based estate plan or trust based estate plan is appropriate.
Should we determine that a Will Based Estate Plan is appropriate for you, your last will and testament is nothing short of your final act of consideration and generosity toward those you leave behind -- it deserves your complete attention. Having an experienced estate planning attorney for your last will and testament on hand to help you draft it, witness it, and in certain cases act as probate lawyer during its implementation is the best way to ensure that your estate moves onward in exactly the manner that you intend.
There are certain assets that your will doesn't control the passage of. IRAs, 401(k)s and other retirement plan assets are executed independently of your will and must have their beneficiaries independently named. Life insurance policies are in the same boat; they pass to their named beneficiaries regardless of what your will might say on the matter. Any assets you own jointly with rights of survivorship will automatically pass to the surviving joint owner even if your will requests otherwise. If you have any questions about whether a particular asset is covered by your will, ask your attorney how these assets will be impacted in a will based estate plan.
Simple: without a will, your estate will enter a legal doldrums called 'intestacy', where everything moves terribly slowly and the probate court deals with your property by appointing a disinterested party to act as executor. Your survivors will have to wait months and even years before the final disposition of your estate, during which time they won't have access to the property that you intended for them. There's no need for the waiting and the gnashing of teeth when creating a will is so simple: just call a an Attorney from Schmidt Law Firm at 888-459-3077 and get your estate's future in order now. If you want to learn more about trusts you can go to our trust page here.
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