You have worked hard all your life, and your assets are a testimony to that. After you are gone, you would want these assets to end up in the right hands. That’s where estate planning comes in handy. State laws for estate planning may vary, and there are guidelines on what can be included in a will. Also, it is a common myth that one needs to have a lot of money, or must be really old, to spend on estate planning. In this post, we are sharing more on why you should consider using local estate planning services.
The role of an estate planning attorney
For the unversed, estate planning attorneys specialize in understanding state and federal laws related to documents such as wills, taxes, and power of attorney. Every person’s personal situation and expectations related to estate planning can be different, and it is the role of the lawyer to ensure that these expectations are met, while adhering to the applicable laws. Also, estate planning lawyers have the expertise and experience to help clients in reducing state and inheritance taxes. When a person is no more, the lawyer will work with the executor or offer advice on transferring assets to relevant beneficiaries. In some cases, probate may seem like an eventuality, for which the lawyer can help.
There is also no denying that estate planning is highly important for advice. Many people often have no idea how to deal with their finances and estate after a point, and an attorney can offer sound, unbiased advice on these aspects.
Hiring the right attorney in Texas
Finding an estate planning attorney in Texas doesn’t have to be hard. A quick search on Google should give a list of best-rated lawyers in McKinney, but you can always ask around for references. If you are meeting an attorney for the first time, you have to ask questions like –
- Do you focus primarily on estate planning?
- How long have you been working as an estate planning attorney?
- Can you share a few client references in McKinney?
- Will you just handle the paperwork, or execute the plan as well?
- What would be your advice on wills, trusts, and life insurance for me?
A good lawyer always offers advice and solutions that would work for their client in a practical manner. Most lawyers work on an hourly rate, but financial discussions and arrangements can differ.