The Importance of Working With an Experienced Estate Planning Attorney
As you grow older, it’s essential to begin devising an estate plan that will protect your family and prepare them for the future after you pass away. You’ll have to draw up and fill out a lot of legal paperwork, which can become extremely tedious to do on your own. However, hiring an experienced estate planning attorney in New Jersey can make a huge difference. They’ll make it easier for you to manage your assets, investments, and other finances.
Should You Have an Estate Plan?
You should absolutely have an estate plan because you can never predict what’s going to happen ten or twenty years from now. No matter your age or financial standing, having a plan ensures that you can still provide for your family despite any major setbacks, such as incapacitation, illness, or death. Furthermore, we want to mention that you don’t have to be wealthy -- no matter the value of your estate, you’ll benefit from hiring an experienced attorney.
Can You Draft Your Own Estate Plan?
You can certainly access templates and other legal resources online before drafting your own estate planning documents. However, having an experienced attorney to handle everything ensures that you cover all your bases. Many DIY documents are not legally valid, allowing outside parties to contest your estate plan in court.
Estate planning ultimately requires a lot of research and knowledge of the law. Without the necessary experience and tools to execute your plan, things likely won’t turn out the way you want. That’s why it’s best to put your trust in an experienced attorney.
An Experienced Attorney Can Help You Protect Your Family and Assets
A reliable attorney can draft several essential documents that help bolster and secure your estate plan. This includes:
- Wills and trusts
- Power of attorney
- Advance healthcare directives
- Guardianship designations
These documents determine who you want to receive an inheritance from your estate after passing away. You get to name your trustees, beneficiaries, and the executor of your estate. Also, if you have minor children, you get to decide who takes care of them when you can’t do it yourself anymore.
An Experienced Attorney Helps You Avoid Mistakes
A lot of research and forethought goes into the execution of your estate plan. It’s very easy to overlook minor details, creating estate planning errors and mistakes that you’ll need to resolve at some point. An estate planning attorney ensures that everything is in perfect order, which will help you save much time and energy.
We want to provide you with an example of a mistake that people commonly make when drafting an estate plan on their own. It involves your beneficiary designations -- many people will only name one beneficiary, which is something you want to avoid. Anything could happen to the beneficiary to jeopardize your estate plan. Ideally, you want to name multiple beneficiaries so that it’s easier to oversee and distribute your assets after you pass away.
Estate Planning Services at Borenstein, McConnell, & Calpin
At Borenstein, McConnell & Calpin, we have a team of experts who can help simplify the process of planning your estate. We have developed relationships and connections with individuals in different industries who can help to contribute to your estate plan. We ensure that families in New Jersey and New York consistently meet their needs and do not overlook any critical details. Schedule a consultation with us today, and we can immediately begin drafting estate planning documents.
Getting in touch
Borenstein, McConnell & Calpin, P.C. is a Wills & Estate Planning law firm serving Central and Northern New Jersey, as well as New York City. We strive not only to give you a great client experience, but to become your trusted adviser for life. To reach Alec, please send an email to firstname.lastname@example.org.
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Springfield, NJ 07081
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Brooklyn, NY 11219