Every adult needs an estate plan, preferably one drawn up by an attorney. However, not every attorney specializes in estate planning. It’s particularly critical for clients with complicated or high-net-worth estates to consult with a lawyer who is well versed in estate planning law. Knowing why you need to hire an estate planning attorney may help you finally get estate planning off your list of things to do.
Some attorneys are generalists, and do everything from adoptions to white collar crime. Others specialize in one or two areas of law. Complicated family or business relationships require someone with expertise. An experienced specialist knows the laws and how to use them to your advantage.
An attorney with minimal estate planning experience may miss strategies that could save you money. For example, choosing the right type of estate planning could protect your wealth. Choosing the wrong type could endanger it.
When you look at online websites that promise cheap estate planning, click away. Quickly. Estate planning affects your life and the lives of your loved ones. Do you really want to trust that to an algorithm or a one-size-fits-all estate plan? Bad estate planning can lead to higher costs, longer probate, depreciation of your assets, and stress. Cheap estate planning can end up being very costly.
And for that, you need an expert. Don’t take a chance by hiring an attorney who doesn’t have the experience and knowledge to help you develop the best estate plan possible.
A properly developed estate plan made with the assistance of an experienced estate planning attorney is an investment in your future.