Why You Need Estate Planning Lawyers

While most people don’t need an estate planning lawyer, there are certain situations that require a specialist. For instance, maximizing Medicaid benefits and addressing long-term care may require a specialist in elder law. Or, you may have financial interests in several countries and want to hire an estate planning attorney with international experience. You should also consider whether the attorney is licensed in multiple jurisdictions. You should also consider their fee structure and level of expertise when choosing an estate planning attorney. You may find more details about this at estate planning lawyers King of Prussia

You can also get referrals for estate planning attorneys through your friends and family. If you don’t have anyone to recommend an estate planning attorney, ask the state bar association or your local probate court. Additionally, you can contact your financial advisor for recommendations. Although estate planning attorneys won’t have any special certifications, they will most likely refer to themselves as estate planning professionals and will discuss their specific areas of expertise with you. A good way to start is by checking with your local bar association or state bar association, and also check ads and advertisements from estate planning attorneys on television.

Besides minimizing tax burdens, estate planning lawyers can also help you set priorities and put important documents in place. Setting priorities and setting up a will are crucial, as they determine who receives what and who will be appointed executor. A will allows you to direct the distribution of your assets after you die and gives you complete control over who is left behind. A will can also be used to protect your legacy from creditors and to ensure that your wishes are carried out.

While legal automation of estate planning can be appealing, it must be approached with caution. For instance, if you are married and your spouse dies at age 68, you may need to update your estate plan to accommodate a new grandchild. Similarly, if your children become adults and have children of their own, you may need to rewrite your estate plan. A lawyer with the proper experience and knowledge is essential in protecting your family and your financial assets.

In addition to assisting in estate planning, an estate planning lawyer can also guide you through the probate court process. Because it can be emotionally and legally complex, an estate planning attorney should be selected who can handle all the elements involved in the process. If you are considering an estate planning attorney, don’t be shy away from asking for a quote before meeting with a prospective candidate. You don’t want to be stuck with a lawyer who isn’t equipped to handle these matters and isn’t compatible with your goals.

If you want to avoid probate, you should make sure that you choose a revocable living trust. These trusts are not exempt from inheritance or estate taxes, and lawyers who recommend this type of trust often charge a higher fee. With life expectancy increasing, the odds of long-term health problems increase. An estate attorney can help you prepare for long-term health problems, dementia, or disability. You will be able to avoid the stress and expense associated with probate.

Contact Info :
Business NAP
Karen Ann Ulmer, P.C.
630 Freedom Business Center 3rd Floor
King of Prussia, PA 19406
(484) 704-2100