Ridgeland Estate Planning: Why Avoid the DIY Route
A lot of people successfully do things by themselves. Unfortunately, DIY does not apply to legal matters unless you are an attorney yourself. State law includes a lot of complex rules and principles hidden in languages that only legal experts understand. For many people, creating legally enforceable documents that convey their intentions is quite difficult. When it comes to estate planning in Ridgeland, it is best to rely on the knowledge and expertise of a lawyer.
Why You Should Avoid DIY Estate Planning
Doing your own estate plan may sound like a good money-saving idea. You may be tempted to choose this route to avoid paying for the high hourly rates charged by many lawyers. However, this rarely works out smoothly.
Documents such as powers of attorney, wills, trusts, and personal directives can only be legally enforceable when they meet specific legal requirements. Keep in mind that a legally valid document without unclear language may set yourself and your loved ones up for problems, litigation, and disputes in the future.
A comprehensive estate plan must pass on major assets to the chosen beneficiaries and heirs as well as accomplish other tasks. For example, the plan must protect your family members from losing valuable government benefits when you become disabled and protect money from creditors, remarriage, or divorce of your family members. The majority of estate plans have many moving parts that online templates cannot cover.
Why Hire an Estate Planning Lawyer
An experienced lawyer knows the law. Also, they are aware of the pitfalls to avoid and other things to think about when they prepare an estate plan. Your chosen lawyer will draft the right document and give you advice on how you can accomplish your specific goals.
A seasoned lawyer has seen many times how estate issues can cause a family feud after a loved one’s death. They have experienced how people contest wills, question trustees or personal representatives, and debate powers of attorney. All of these offer insights into the possible red flags in an estate plan.
The majority of skilled estate planners know the importance of covering each detail as they help clients prepare an estate plan. Those who have no experience and knowledge of these details cannot cover them in their DIY plan. When you choose the DIY path, you or your family members may have to deal with many issues in the future. In general, mishandled legal affairs, including estate plans, end badly. Even a single mistake can cost you thousands of dollars to your beneficiaries.