Why You Need a Lawyer for Your Will
Why You Need a Lawyer
You like to do things yourself and feel that you can save some money by preparing your own Will. However, before you head for the computer to download an online form or two, consider why using an experienced attorney to prepare your Will saves you money and heartache.
Here are some important reasons to seek knowledgeable legal guidance:
- Your life is unique: Your primary asset may be your home and some retirement savings. Maybe you have a diverse investment portfolio or children. The small details of life make a very big difference when preparing your Will. Two people with similar backgrounds may have quite different wishes with regard to their property and how it is transferred. Relying on information gleaned from the Internet or from boilerplate documents puts your unique needs and wishes at risk.
- Know your options: Without experienced legal advice, the spectrum of legal and financial options open to you may not be known. Understanding the impact of tax and inheritance laws could alter how you gift your property and how your Will is written.
- Complications could arise: A well-crafted Will eliminates questions among heirs and business associates about your intent. It is easy to create a lifetime of ill-will among siblings if a Will is poorly prepared.
- Business and wealth: If you are a business owner, you know the importance of sound legal help. Substantial wealth calls for careful estate planning, beginning with your Will. An estate planning professional can guide you through the process of preserving and distributing your business and personal resources as you wish.
- Getting it right: To be effective, your Will should be free of mistakes or problem language. Individuals and couples who prepare their own Wills can make egregious financial missteps. Many times these Wills, and successive personally-prepared amendments, are found invalid. While an online form may provide words, it is not language specific to your circumstances.
The U.S. Government notes that a Will is a practical first step to ensure your property is handled appropriately after your death. Using legal counsel to prepare your Will is a small investment in securing peace of mind for you and your family. When you have questions about preparing a Will in New Jersey, speak with an experienced estate planning attorney.
If you have any questions, please call us at 908-236-6457, or email Alec Borenstein, Esq., at Alec@bmcestateplanning.com.