Choosing the right estate planner is just as important as choosing the right realtor. Choosing the wrong one could leave you with a lot of regrets and a headache. In this article, we examine why the right estate planner is crucial for your family’s future.
You have a lot of decisions to make when it comes to estate planning. But, who will guide your family through the process and protect them from costly mistakes along the way? If this concerns you, continue reading to learn why the right estate planner is important.
The Importance of the Right Estate Planner
What Do Estate Planning Lawyers Do?
Here is an interesting link that goes over what an estate planning lawyer can do for you. In fact, they’ll know which factors affect your choice.
- State law (laws vary by jurisdiction)
- Personal desires and needs
- Tax considerations
They can also advice about medical care preferences for seniors living at home instead of other options such as assisted living facilities or nursing homes. The right estate planner has more than just expertise in estate planning to offer. They offer a unique opportunity for your family members to get insight into what it means to age, which may be something many don’t think about until it’s too late!
Choose An Estate Planner With Your Best Interests In Mind
It’s essential that when choosing an estate planner, you have someone who “has your back!” This includes peace of mind knowing that all legal documents are up-to-date and current with the latest changes in laws. Next, it includes instructions for selecting guardianships and trusts. Then, there are the healthcare decisions, financial advice, and more.
An estate planner has more than just expertise in estate planning to offer. They offer a unique opportunity for your family members to get insight into what it means to age. This might be something you don’t think about until it’s too late. This is why it’s essential that you ask them how they plan to educate you about the aging process.
Estate planners provide a range of services, including:
- Comprehensive estate planning that includes legal documents such as wills and trusts.
- Executing a power of attorney for your assets and property if you’re unable to do so yourself in the future.
- Designating guardianships for children or other family members who need help managing their affairs when you can’t be there.
- Healthcare directives (living wills).
A living will is one document every individual should have completed at some point in life. Doing so ensures that if we die unexpectedly there are clear instructions on what our wishes are regarding medical interventions before death.
Estate Planners Can Help Protect Your Children and Heirs
Estate planners also protect your children and heirs from financial harm by calling for regular distributions or annuity payments.
This kind of protection is significant to parents with concerns about their children’s inheritance. The concern is that it lasts for the next generation as well. This is the type of financial management an estate planner can help you with.
What Estate Planners Can’t Do For You
The truth is that estate planning takes time, effort, and commitment on the part of each family member. In fact, every detail has implications for those left behind after we’re gone.
Estate planners cannot guarantee against probate. However, they will work with individuals seeking to avoid probate as much as possible.
Estate planners cannot guarantee death or disability insurance. However, they provide protection and assistance for an individual’s family in the event of their passing by helping them to understand how a plan can be carried out smoothly without undue stress on those left behind.
Estate planners also help with trusts, wills, power-of-attorney, and guardianship. In addition, estate planning includes effective financial strategies like purchasing life insurance policies to protect your family.
Having An Estate Plan Can Alleviate Family Drama
Estate planners can provide a wealth of information for families who are often unaware that they need an estate plan.
Also be aware that each state has its own laws about the distribution of assets in certain situations. Therefore, it’s essential to consult with your financial planner first before making assumptions or taking action.
When working with their client’s best interest in mind, these professionals go step-by-step through the process to ensure maximum protection. They also ensure peace of mind knowing what happens next. If you have any questions or suggestions, we always love to hear from you in the comments below. Also below are links that will take you to more fantastic articles about ALL things DESIGN for your home or business.
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