Many people understand the importance of a will, but fewer understand why they need an attorney for estate planning. When you use an attorney for your estate planning, you will be able to ensure that you design the ideal estate plan to meet all of your specific needs. At Kaufman, Nichols, & Kaufman, our experienced team is passionate about providing ideal estate planning services to meet your requirements. Here are a few things to understand about why you need an attorney for estate planning.
Tax Code is Complicated
Tax code is extensive and can be rather complicated. When you are unfamiliar with the code, it can be difficult to ensure that you are complying with the code during your estate planning process. When you work with an estate planning attorney, you will be able to more easily navigate tax code.
Clearly State your Wishes
When you are trying to implement a plan for your estate, there are many things that can be too vague or misinterpreted. When you work with an attorney for your estate planning, you will be able to ensure that your wishes are clear and concise, which prevents any misinterpretation. This is especially true when you need your estate plan to include your adopted or stepchildren, as this can lead to more vague circumstances.
Differing State Laws
State laws regarding estate planning are not the same across the board. In fact, there are many differences between the various state laws. Understanding the laws in your specific state is essential in ensuring that no issues arise with your estate plan. For example, some states require that those in charge of trusts reside in the same state. An attorney will be aware of the specific laws in your own state.
Sort out Complex Situations
Some estates can be incredibly complex. During an estate planning process, you will want to think about every aspect of the future, such as guardianship of your children, distribution of your assets, and more. An attorney can help you to consider each of these complex aspects and sort them into a comprehensive plan for the future of your estate.
Update Documents as Necessary
One thing that is constant in life is change. Some changes will require document updates and modifications to your estate plan. Your attorney will have the appropriate knowledge to ensure that your documents can be updated as necessary, in order to ensure that your estate plan is up-to-date.
Comply with Existing Laws
In order to ensure that your estate plan is effective, it will be important to ensure that your plan complies with the existing laws. Our expert team is aware of the laws that will impact your estate plan and can help you to create the ideal plan to meet your needs.
It can be hard to make decisions for your future, especially when you are so emotionally invested in the process. The services of an estate planning attorney can help you to ensure that you are able to receive helpful guidance and advice to make the ideal decisions for your estate.
Objectivity can be difficult to obtain in the estate planning process. When you work with our experts at Kaufman, Nichols, & Kaufman, you will be able to obtain access to a trusted resource to aid you in your decision making process.
Protect your Children
If you have children, it will be important to ensure that you have plans in place to provide protection in a worst case scenario. Your estate plan will enable you to designate a guardian to plan for the future of your children.
Minimize Probate Process
There are many reasons why you want to avoid probate. For one thing, probate court is a public affair. This means that when your estate goes through probate, you will often have much less privacy. Probate also causes your asset distribution to be delayed and comes with its own share of expenses. When you carefully create an estate plan, you will be able to minimize the probate process and ensure that your wishes are followed more effectively.
An estate planning attorney can help to ensure that you create the ideal estate plan to meet all of your needs. Our experts at Kaufman, Nichols, & Kaufman can help to ensure that you have access to top-notch estate planning services. For more information, contact us at Kaufman, Nichols, & Kaufman today!