Every marriage is not meant to last forever. No matter what the reasoning behind the divorce, it is important to have legal representation for each side. I almost lost everything because my former spouse said that he was taking care of things and that he would be fair about how the assets were divided. It took several weeks for me to find out what he was up to. It was then that I hired my own attorney and got what I deserved. You should never attempt to go through a divorce without a lawyer working on your side. On my site, I have listed several of the issues that can get overlooked if you are inexperienced with divorce documents and proceedings.
You may know that it is a good idea to make sure that your estate planning is taken care of. However, you might not be in a rush to work with an estate planning attorney. You might be having a hard time setting aside time for meeting with one of these attorneys for one reason or another, or you could be concerned about the legal fees.
It is a good idea to make it a priority to meet with an estate planning attorney, however. In addition to providing you with peace of mind, one of these attorneys can also help your family save money after you have passed away. This is true for these reasons and more.
1. Reducing Tax Liability
Many people don't realize that an estate planning attorney can help a lot with taxes. Many people are subject to paying inheritance taxes and estate taxes when a loved one passes away. In many cases, though, there are ways that you can significantly reduce the amount of taxes that have to be paid, such as by setting up the money in certain types of accounts. All of this can be very confusing for someone who does not have any estate planning experience, but a good estate planning attorney should be able to help you with it.
2. Preventing Future Legal Fees
If you hire an estate planning attorney now, you may be able to prevent your family from having to pay a lot of legal fees later. When estate planning is not done properly, there are often problems within families once someone passes away. Sometimes, family members end up arguing over a loved one's property and money, and they may have to get lawyers involved. This can obviously cause your family members to spend a lot of money in legal fees. Plus, it can cause a lot of stress and tension between family members, which is probably something that you would like to prevent if you can.
Luckily, if you work with an estate planning attorney now, you can make sure that your estate planning is handled in the proper way. This can help you ensure that your money and possessions go to your chosen beneficiaries, and it can help you prevent strain and arguments among family members. It can also help your family members in a financial way since it can prevent them from having to hire an attorney.