Benefits Offered by Hiring an Estate Planning Lawyer

Posted byPaola Nadeau on Jan 2021 in Law and legal | 0 comments

While there are a number of people who are experienced in things such as insurance, accounting and taxes, but there are not many who have an in-depth knowledge of the areas regarding retirement planning. Issues such as extended care, federal and state estate tax laws, guardianship for minor children and Medicaid planning are all factors that can be handled by an Estate Planning Attorney in Naples. When you hire this professional they will be able to assist both old and young adults from all levels of income with their long-term care and estate planning, so they will be able to enjoy long-term financial security.

From the creation of a revocable living trust to handling insurance for long-term care, to creating the powers of attorney and guardianship for a person’s minor children, the services of an estate planning lawyer play an essential role in a person’s life. The primary benefits offered by hiring a professional estate planning attorney include:

• Taking the guess work from the probate process and a full understanding of any applicable estate taxes.
• Protection for your inheritances and assets.
• Allowances for special needs children without having to sacrifice any important government benefits.
• Ability to appoint guardians for minor children rather than having them go into the foster system.
• Making plans for Medicaid without having to sacrifice your life savings to nursing home care.
• Control in the way your assets are spent by providing specific instructions in your living trust.
• Reduction of estate taxes, legal fees and court costs while ensuring estate assets are maximized.

It is important to understand that estate planning is considered a process that is ongoing that involves several different, important life decisions. In most cases, it is not suggested that you attempt a “do it yourself” version, since that are so many things that can go wrong. If the proper process is not followed, one signature is forgotten or one detail left out, then it can change the entire intent of the documents which may lead to a “will contest.”

When you hire an attorney they will ensure all documents are properly filled out and filed, which will prevent any issues after you pass away. They understand the process and can make sure that your wishes are carried out. The key is to acquire their services early in the process so that you are prepared for the unexpected.

If you are in need of the services of an Estate Planning Attorney Naples, visit Willis & Davidow.