Preparing for your own will needs to be done seriously. Of course, you can do it by yourself by just following some formats online and other Estate Planning kits you can buy but make sure that you have the correct one. You need to check which format suits the best for your own will. For the goal of saving money by not hiring a lawyer to assist you, you can end up spending more if you don’t have the most precise format to follow.
How to prepare your own will?
It is never suggested that it is good to write your own will. It is still best to create a presence of a lawyer that specializes in estate planning. On the other hand, the following are some situations that you can prepare on your own with a minimal risk.
- You just have a small number of an estate. You may only have a small savings account and few collectibles. If you plan to have all your possessions with your spouse and can be also your estate executor then this would categorize as a simple estate.
- You have no spouse. So you plan to have all your possessions be equally divided between your children and your estate is also below the amount of estate tax that you are required to pay.
- You have no assets that are subject to probate, or the amount is only minimal.
If you are already decided to create your will, make sure to know all the state’s requirements and complete all these requirements. There are some software programs that you can refer to individual estate planning state laws.
The need of an Estate Planning Attorney
If you don’t want to have mistakes and wanted a smooth flow of your own will, then it is necessary to ask for an assistance of an estate planning attorney. Having an expert beside you can make your document accurate and valid. A well prepared and properly draft will is assured with the presence of an estate planning attorney. It is a fact that one incorrect term or missing signature can change the whole message of the Will.State laws govern Estate Plans are very specific about the contents included in estate planning documents.
- who is the personal representative, trustee, healthcare surrogate or attorney-in-fact
- who are the witnesses to a Will, Trust, or Medical Power of Attorney
- what procedures must be followed when signing a Will, Trust, or Medical Power of Attorney
You can buy estate planning forms, software, books online but there is no guarantee that the documents will be accurate, valid, or follows state’s estate planning laws. Most of the time, the inaccuracy of your will has just to be discovered after your death.
It is advisable that consulting with estate planning attorneys help solve difficult estate problems of a family and/or financial situations. Hiring an experienced estate planning lawyer is a must to assist you for your estate planning needs and goals.