Estate planning and wills are usually the last things people want to do, so they end up just talking about it. It is difficult to face one’s own mortality; however, think of it this way — with proper estate planning your wishes for asset distribution will take place in the way you want it.
Before you begin to think about what you would like done with your assets, locate a qualified estate-planning attorney. You ideally want someone with extensive experience in this area of the law; an attorney who appreciates the various twists and turns of estate planning, but who offers his or her clients well thought out options for the disposal or gifting of their assets.
This area of the law has several specialties, and knowing this before you contact your attorney will help you select the one you need. Estate planning deals with a variety of issues such as trusts, wills, powers of attorney, and durable powers of attorney. Ask the lawyer in what area s/he specializes when you call.
If you’re planning on having a will drafted and are thinking it will not take long or cost that much, think again. Wills are not simple and if you want your will to accurately reflect your last wishes, then it must be written according to the laws of your state.
Yes, there are online wills, however they do not point out legal issues you need to address while drafting the document. This is why consulting with a highly qualified estate-planning attorney not only makes good sense, but it will save you time, money and legal problems later.
There are very few simple and straightforward wills. You might find the odd one on a TV legal show but in real life, people want things done with their assets that makes the will more complicated and challenging. This is what you are paying your lawyer for, to make your wishes viable according to the law. You want the will nice and tidy and legal; something no one would dream fighting over.
D0-it-yourself wills are nightmares for the executors and quite often the requests contained in them can’t be carried out because they are not legal. It makes more sense to consult with a competent estate-planning attorney who knows how to write a proper last will and testament that will embody your final wishes.
Patrick Warwick is the lead content contributor for Chicago bankruptcy firm, The Law Office of Jay F. Fortier, P.C.. To speak with a Chicago bankruptcy lawyer or learn more about creditor rights, visit Westsidebankruptcy.com.