Few people want to spend money on their estate plan. After all, it often seems that the money can be better used on something you can actually experience. Many people ask “Do I need an estate planning attorney?” when they consider the costs of estate planning — and few take the time to really consider their answer. Understanding whether you need a good estate attorney is an important part of planning how your possessions and money will be distributed after your death and one of the best ways to begin thinking about how those you love will be cared for when you are gone.
The quick answer is that everyone needs an estate planning attorney. It doesn’t matter if you have millions of dollars in assets or only a few pieces of property to your name — you need an attorney to make sure your wishes are carried out in the manner you see fit. Estate planning attorneys help you to set up all of the documents that will distribute your property and make sure your loved ones are properly cared for when you are gone. Whether or not you live in New Jersey is irrelevant — you need the extra help when it comes to planning your estate. A good attorney is your only hope when it comes to having your wishes respected after you pass away.
You may need an estate planning attorney more than others if you have a significant amount of money or property tucked away, though. Even if you know your family will follow all of your wishes, you still need a way to make sure they receive as much of your estate as possible. This means learning how to minimize the estate tax consequences of leaving behind money and property as well as figuring out the types of planning documents that will allow the bulk of your estate to go where you want. Without the help of an attorney, you’ll leave more money than you want to the government.
It’s even harder to plan for the future if you have special circumstances that dictate how your estate must be planned. If you have a child with special needs, for example, you will need help setting up a trust that will provide for his or her care. While many people can get by with a simple will, some people have particular needs that make a will a less-than-ideal instrument. A good estate attorney will also help you to explore your options to make sure all of your needs are met.
Finally, an estate planning attorney can help you to draft a document and use the right instruments to ensure that your wishes are put into motion without fear of being challenged. While you cannot expect that absolutely anything will be allowed in a will or other end-of-life document, a good lawyer will make sure that the important parts of your estate are distributed according to your wishes without fear of being challenged. If you know that your family is likely to fight over the estate or that there will be specific challenges to how you distribute your possessions, it’s wise to consult with a good attorney.
Do you need an estate planning attorney in New Jersey? Absolutely. Whether you have a small estate or large, a good lawyer will help you to ensure everything goes where you want. While there are always bumps in the road when it comes to planning an estate, skilled attorneys can make sure that the bulk of the decedent’s wishes are fulfilled. If you have not begun planning how your estate will be divided up after your death, it’s a good idea to start looking for a good estate attorney today.
The content provided herein is intended for informational purposes only. It should not be construed as legal advice. If the issues discussed in this blog are of concern to you or your loved ones, please seek the counsel of a qualified attorney.