Why Should I Have An Attorney Prepare My Will?

No one likes to think about death, much less putting something in writing about the end of your life. Unfortunately though, no matter how big or small your estate is, it is very important to have a formal will. A will exists to allow you to dictate what happens with your assets before you pass. While a will is a formality, it is also oftentimes a source of peace of mind for you to know your loved ones will not be left with a heavier burden.

Important things to remember

• Power of Attorney. Having a power of attorney drafted and signed protects you in the case that you become incapacitated and is honestly one of the most important estate planning documents. Without an official power of attorney, your family could face some very expensive legal proceedings and your assets could go unprotected.

• Contested will. It is possible for your family, or others, to contest your will. However, if you have a properly drafted will by an attorney their chances of success in contesting are very minimal.

•  Estate taxes. With proper planning, estate taxes can be reduced, or even avoided. Planning for these taxes could include things like lifetime gifts, valuation discounts, and irrevocable life insurance trusts. If your net worth is in excess of $5 million prior planning is a must.

 Why have an attorney prepare my will?

Preparing a will is vitally important, no matter the size of your estate. Having a will prepared ensures that your property will go to the people you want when you want it to. A will also allows you to save as much as possible on taxes, court cases and attorney fees. Having an attorney will ensure everything is documented and filed correctly and take the pressure off of yourself.