An estate planning lawyer can provide you with many different kinds of help in creating or updating an estate plan. Many people assume that they can do estate planning on their own, usually by creating a will using a DIY kit. Unfortunately, this is often a bad idea that leaves you without a comprehensive legacy plan and that leaves you vulnerable in other important ways.
The Law Offices of James A. Miller, P.C. provides comprehensive assistance with the estate planning process and with other important issues like planning for incapacity, protecting assets, and making plans to address end-of-life issues. Our legal team has the experience and compassion needed to help clients at all phases of their estate planning process so if you are ready to plan ahead for your future, give us a call.
Three Signs You Need to Talk with an Estate Planning Lawyer
One big reason many people try to make an estate plan on their own, if they have a plan at all, is that people do not always realize all of the different things an estate planning attorney actually does. An attorney does much more than simply assist you in creating an last will and testament. Your attorney can also help you to use legal tools to do things like protecting your wealth or planning ahead regarding what kinds of medical care you’ll receive if you cannot communicate.
You should carefully review your situation to determine if you have updated plans for incapacity, asset protection and end of life issues as well as a plan for your legacy. If not, you should talk with an experienced attorney to get help. While it is always important to have the right plan in place, there are a few key signs that talking with an experienced attorney could be especially important for you. You should make it a priority to talk with an attorney if:
- You have a child: Once you have a child, you are responsible not only for your own future but also for the future of your child. You want to ensure you can provide financially for your son or daughter if something happens to you. Simply leaving money to a child in a will without following the proper process can create many problems, including the potential your child will be handed a large inheritance on his or her 18th birthday. There are legal tools you can use to avoid issues with an inheritance. You also need to make plans for who will care for your child if you cannot.
- You have begun to acquire valuable assets. Once you own property, or are starting to build wealth, you want to find ways to protect your growing nest egg from risk. An estate planning attorney can offer help with asset protection. You also want to ensure that if you pass away, you can leave the desired legacy. You don’t want intestacy law to determine what happens to your property and you don’t want to lose a portion of you estate to estate tax if you have a larger estate. An experienced attorney can help to make the right plans to transfer your wealth to the people you love or causes you care about, while minimizing or avoiding estate tax.
- You are getting older. While people of all ages should talk with an estate planning lawyer, it is especially important for people who are getting older to get legal advice. As you get older, the chances of passing away or the chances of suffering an incapacitating illness rise. It thus becomes more important than ever to have an incapacity plan and estate plan in place. You also want to discuss with your estate planning lawyer how to get nursing home care paid for. Medicare and Medigap plans usually provide limited coverage, if any coverage at all. You could qualify for Medicaid to pay for nursing home care, but only if you spend down assets. Making an advanced Medicaid plan can help you to avoid losing wealth.
These are just three of many red flags that suggest you need to get estate planning help from a qualified legal professional to secure your future.
Getting Help from A Worcester Estate Planning Lawyer
A Worcester estate planning lawyer at The Law Offices of James A. Miller, P.C. can provide comprehensive assistance with making your plans for the future. To find out more about how our legal team can assist you with all aspects of asset protection, incapacity planning, and legacy planning, join us for a free seminar. You can also give us a call at 866-370-3888 or contact us online to get personalized advice from a member of our legal team.
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