When creating an estate plan, many people wonder if they should hire a wills and estates lawyer or try to handle it on their own. While you might have a good idea of what you would like recorded in your Will, it isn’t quite as simple as noting down your wishes on a piece of paper. The benefits of hiring a wills and estates lawyer to draft your Will extend beyond the initial document creation and will help to ensure that your legacy is secure.
Benefits of hiring a wills and estates lawyer for your estate planning
Engaging a law firm to assist with your Will can help to streamline the process, but there are other benefits associated with seeking support with your estate planning.
Legal expertise
An experienced estate planning lawyer will have comprehensive knowledge of the of the complex laws and regulations surrounding wills, trusts, asset distribution, and tax implications that often most people don’t have. They stay up to date on changes to estate laws and new legal strategies that could be advantageous for your specific situation. With a wills & estate lawyer’s guidance, you can ensure your will and other estate planning documents adhere to all legal requirements, avoiding potentially costly mistakes that could lead to your wishes not being properly carried out. Their expertise allows them to draft customised estate planning documents that take full advantage of legal tools like trusts and beneficiary designations to lawfully minimise taxes on your estate. A wills and estates lawyer can also expertly navigate the probate process after your passing to smoothly execute your estate plan. Their legal skills help protect your beneficiaries and assets. Having the peace of mind that your estate plan follows the law and helps your loved ones avoid disputes down the road is invaluable. Trusting your estate to a legal professional with expertise in estate law and planning is a wise investment.
Tailored solutions
Beyond legal expertise, a good wills and estates lawyer will get to know you at a personal level so they can make recommendations tailored to your values and priorities. A wills and estates lawyer will take the time to understand your unique family situation, relationships, assets, and wishes to craft a customised plan that fits your needs. They can help ensure your assets are distributed as you intend upon your passing, while minimising taxes and administrative costs on your estate. A wills and estates lawyer can also help you navigate complex areas of estate law that may impact how you structure your plan, such as setting up trusts or providing for special needs beneficiaries. They will handle the intricate details so that you can have peace of mind knowing you have a plan that truly fits your family. With their expertise and personalisation, a wills and estates lawyer can provide solutions and guidance you may not have considered on your own.
Trusted and Timely Assistance
Life brings constant change, and your Will should evolve along with it. An experienced estates lawyer will guide you in keeping your Will current, avoiding potentially serious consequences down the track. Major life events like marriage, divorce, birth of a child, or purchase of a home often necessitate updates to your Will. By having an ongoing relationship with an estates lawyer, they will get to know you, your family, and your unique situation in depth. This allows them to provide customised estate planning suited to your needs and priorities, maximising benefits for you and your beneficiaries. Overall, their sage advice brings peace of mind knowing your final wishes will be properly executed.
Having a trusted estate lawyer that you’ve worked with over time enables them to look at your estate holistically, considering both your current situation and where you’d like things to stand in the future. Your lawyer can thoughtfully time the incorporation of important legal instruments like an Enduring Power of Attorney or Medical Treatment Decision Maker into your Will and estate plan.
Rather than hastily adding these in without context, your lawyer will have a comprehensive perspective on your health, family dynamics, financial position, and intentions. They can then prepare these documents and integrate them into your Will in a strategic manner, aligning with other elements of your plan. This bespoke, timely preparation of legal instruments by a trusted advisor can give you confidence that your healthcare, financial affairs, and estate will be managed how you wish if you become incapacitated.
Contact our team of Geelong lawyers to help with your Will
When it comes time to plan for the future and make important decisions about your estate and legacy, the Geelong- team at Whyte, Just & Moore are your experienced and trusted professionals in Will preparation. Whether your needs are complex or straightforward, our knowledgeable based lawyers are here to assist. Contact our team today to get started on thoughtful and comprehensive Will and estate planning.
