Do You Need an Estate Planning Attorney?

No one wants to think about funeral homes in The Village, OK. However, it’s important to plan and protect your family in case anything should happen to you before your time, or in the event of your eventual passing. An estate-planning attorney might be able to help you do that. 

Estate planning attorneys help guide you through the process of deciding how you want to divide your assets, gathering and preparing necessary post-life documents, and making sure your wishes are carried out after you’re gone. These lawyers are important because sometimes, without proper legal advice, affairs are left up to family members that are unsure of your wishes, or, in the worst case, might fight over the decisions. Estate lawyers can help you draft, review, and authorize important documents such as last will and testament, trust, durable power of attorney, medical durable power of attorney, and beneficiary designations. 

These documents are especially helpful for military servicemembers. However, like all other lawyers, estate-planning attorneys charge fees. They generally charge a flat rate for prepping your desired documents and a per hour rate for more complicated tasks like handling disputes or carrying out the will. The exact rates depend on where you live and what caliber of lawyer you wish to procure. Be sure to decide on rates up front with your lawyer to protect yourself from getting over charged. 

But do you really need an estate-planning lawyer? For most people, the answer is generally no. You don’t really need an estate planning unless: 

• Your net worth is more than $5 million. If you have a large net worth, your estate might be subject to estate tax. In that case, it’s a good idea to consult a lawyer to make sure that your beneficiaries get what you wish as opposed to it being taken by taxes. 

• You have special circumstances. From being a military servicemember and having children with disabilities to foreign property or heirs, special circumstances and finances are tough to navigate. A specialized estate-planning attorney can show you the way to get through such special circumstances. 

• You own large or many properties. Dividing up property can be tricky as titles are held in many ways and there are often confusing technicalities that you might be unaware of. In some cases, you might not even have the right to bequeath certain properties. An experiences lawyer can help guide you through these confusing laws to make sure your property is dealt with appropriately. 

If you’re unsure if you need an estate-planning lawyer, it couldn’t hurt to get a consultation. Remember, most lawyers do charge fees even for consultations, but sometimes peace of mind is worth the small cost. 

If you have more questions about estate planning or want to know more about preplanning for your passing, Corbett Funeral & Cremation would be happy to help. We offer The Village, OK funeral home services. Please give us a call to learn more about what we can do for you.