Estate planning is not the easiest thing to think about. After all, creating a will means you will be forced to contemplate all the financial matters that are likely to happen after you die. Nobody really wants to think about the treacherous inevitability of life ending at some point, but preparing for it is crucial, nonetheless.
You want to make sure that your assets are managed properly. This way, when you are no longer in this world, your assets will be distributed among those whom you deemed most befitting without any problems.
Importance of Creating a Will (With Professional Help)
Trying to pull off estate planning by yourself without any legal knowledge or expertise is a mistake you must avoid at all costs. Even if the matter of distributing your estate seems straightforward, planning it all out yourself can expose your will to risks that only a trained professional knows how to mitigate (or even prevent).
If you do not get everything right when making the will, there are chances that your will might be at risk of contest from the people who feel that they were not given adequate inheritance or were cut off without valid reason. There is even a chance that the court might consider your will invalid altogether.
It is important to consult and take the help of a lawyer when creating a will. Any lawyer can draw up a simple will that covers all the basic aspects of estate planning. Ideally, you should seek help from a specialist who is trained to deal with all the complex intricacies pertaining to estate planning.
Hiring a will lawyer in Long Island who has experience in dealing with difficult cases of estate planning can prove to be more beneficial than getting someone who only deals with the basics. There are plenty of concerns you might have when you’re creating a will.
Your concerns might include, but are not limited to:
- Ensuring everything remains peaceful when it comes to the matter of inheritance
- Managing your assets with ease when you are alive
- Making sure all the people whom you deem befitting receive the assets you have left for them
- Mitigating taxes and any legal costs as much as possible
- Managing assets in different states
The best estate planning lawyers in Long Island will not just be able to cater to the fundamentals, but they also have a great grip on and experience in dealing with the more perplexing scenarios. In many cases, what happens after a person’s death often turns out to be messier than anticipated.
Things like property, inheritance, and money can bring out the worst in people – even if they are related by blood. A fool-proof estate plan set into motion can minimize the havoc that may arise after your death.
Questions to Ask a Will Lawyer
It is significant to find a will lawyer in Long Island who can navigate the treacherous waters of distributing your assets by giving you solid advice on crafting your will.
When you are looking for the best estate planning lawyer in Long Island, here are some of the questions you might want to pose to the professional.
The answers they give to these questions should serve as nods or red flags regarding whether or not you should use their services.
1. Do you specialize in estate planning?
The answer should be a “yes” straightaway. Someone who does not specialize in estate planning would not know all the intricacies to creating a highly effective last will and testament.
2. Tell me about your experience working in this field, or how long have you been practicing law?
Experience is the best teacher and you need someone who has plenty. You need someone who has at least seen the execution of a client’s will after their death at least once.
3. Do you just draft the will or do you also oversee its execution?
There are estate planning lawyers in Long Island who help clients with drawing up their wills. However, the best estate planning lawyer in Long Island will make sure that the will and all your wishes in it are executed as planned.
4. How confident will you be in saying you can facilitate the creation of a detailed estate plan?
A specialist in estate planning should be capable enough to equip you with the information you need to prepare an estate plan, complete with life insurance, trusts, and wills. There are several kinds of wills, trusts and life insurance policies to choose from. A well-thought-out estate plan will have all of them. The best will lawyers in Long Island are well-versed in all these details.
5. What is your fee structure?
Estate planning lawyers in Long Island, like any other kind of legal expert, charge by the hour or have fixed rates. Some lawyers have a fixed rate for certain services and hourly charges for others. Regardless of the payment structure, it is important to be aware of the fee before you start working with the lawyer.
It is imperative to get satisfactory answers to all these questions when you are considering the services of a will lawyer in Long Island. Drawing up a will can be quite an emotional experience. It can be taxing for you in terms of finances, as well. At the end of the day, it is one of the most important documents you will prepare for yourself and your loved ones. Getting the best of the best to help you with it is what you should do.