Of the handful of major life events that require your serious consideration, few are as emotionally charged as how to leave your assets for loved ones at the time of your death. This often complex process is accomplished via testamentary documents such as wills and trusts, which have recently become available for purchase online as standard forms. Is your situation just like everyone else you know, or are you unique? You should only use Groupon, or other online services, if the events in your life exactly match all of your friends. If not, you shouldn’t use Groupon for a will.
The assets you have acquired during your life and the ways that you own them are often far more complex than a standard legal document or online service can anticipate. When you make that all important decision to create a will or put your assets into a trust, you need an experienced estate planning attorney to guide you so that your wishes for life and death can be carried out without risk of your family getting stuck in court or conflict, when it’s too late.
Your incapacity or death will be an emotional time for your family. During this time, they need guidance, not a set of documents, which may not have even been kept up to date or adequately cover after-acquired assets.
In certain cases such as being married multiple times, having minor children, or owning a small business, legal assistance is especially necessary.
There may also be a variety different tax or asset protection implications for your inheritors. The right lawyer can advise you on the best way to handle the different assets you own such as real estate, investments, a small business, or personal property.
Is a trust right for your situation? Is there a way to transfer an asset before you pass, so that it will be protected from claims, creditors or taxation? Groupon can’t help you with that.
You may save money initially if you have a simple, small estate with few assets by just using a form that you find online. However, if you become incapacitated before death, your family could get stuck with a long drawn-out court process, as they attempt to get control of your financial assets. And, if your document is unclear, contestable, or wholly or partially invalid, it’s your family who will be paying the price down the road.
Speak with A Personal Family Lawyer® to create an estate plan that protects you and your loved ones. Schedule online.