As they start planning their estate, some people might wonder if it’s worth the trouble to hire an attorney or an estate planning advisor. Wouldn’t it be cheaper and easier to write up the will themselves, sign it and call it a day? In fact, an estate planning advisor is armed with knowledge and expertise that can help people anticipate unforeseen situations. Without an advisor, their family might end up in a legal bind when the will holder passes away. Here’s why anyone can benefit from hiring an estate planning advisor.
Why should people hire an estate planning advisor?
An estate planning advisor can anticipate situations that the will holder might not think about. For example, an individual might write a basic will that passes all their assets to their spouse and children when they die. But what if one of the children dies before the holder of the will? It might seem safe to assume that the inheritance will then go to the grandchildren, but in fact, the inheritance might be passed to their legal guardian instead.
With an estate planning advisor, an individual will be able to plan for unexpected situations and ensure that their family is taken care of after their death. If the assets are distributed according to the individual’s wishes, their family won’t have to waste time and money with a long legal dispute.
Where can people go for assistance with estate planning?
For help with estate planning, an individual may hire an attorney to act as their estate planning advisor. An attorney might help them draft a will, name someone for power of attorney, document their wishes for end-of-life medical care and more. They may also be able to help their client anticipate unexpected scenarios and plan for them accordingly.