Why You Should Use an Estate Planning Lawyer vs. Online Will Software
If you want to make a will, you likely know how important it is to identify the parties to whom you want to leave your assets, and how important it is to name a guardian for your minor children and an executor for your estate in your will. If you have what you are assuming is a relatively straightforward will-making process, you might be wondering why you should use an estate planning lawyer versus online will software. The choice between using a lawyer and online will software ultimately depends on your specific needs, but there are key reasons why consulting a lawyer might be more advantageous. Our Summit estate planning lawyers can provide you with more information.
Why Use a Lawyer?
The following are just some of the reasons that consulting with an estate planning attorney in New Jersey — rather than simply using online software — can be beneficial:
- Tailored advice: Lawyers can provide personalized guidance based on your unique situation, ensuring your will reflects your specific wishes and accounts for complex circumstances like blended families or business ownership;
- Addressing complexities: If you have significant assets, beneficiaries with special needs, or complicated tax concerns, a lawyer is better equipped to handle these intricacies;
- Avoiding errors: Mistakes in online templates, like unclear language or failure to meet state-specific requirements, can lead to disputes or invalidate the will. A lawyer ensures everything is compliant and enforceable;
- Comprehensive estate planning: A lawyer can help with more than just a will, like setting up trusts, powers of attorney, or healthcare directives for a complete estate plan; and
- Legal expertise: Lawyers stay updated on laws and can foresee potential pitfalls or challenges that online tools may not address.
Common Complex Situations Where Consulting a Lawyer is a Smart Idea
The following are just some examples of common estate planning situations with complexities where it would be wise to consult an estate planning lawyer when drafting a will:
- Blended families: If you have stepchildren, multiple marriages, or want to ensure specific provisions for both a current spouse and children from a previous marriage, a lawyer can help navigate this complexity;
- High net worth estates: When you have substantial assets or property, minimizing estate taxes and ensuring a smooth transfer of wealth may require strategies like setting up trusts, which a lawyer can expertly handle;
- Special needs beneficiaries: If you have a beneficiary with a disability, a lawyer can help set up a special needs trust to ensure they receive inheritance without jeopardizing government benefits;
- Business Ownership: If you own a business, deciding how it will be transferred or managed after your passing (e.g., passing it to heirs or business partners) can be tricky and often requires legal expertise;
- Unique asset types: Handling complex assets like intellectual property rights, overseas property, or collectibles of high value might require specialized legal provisions;
- Disinheriting someone: If you wish to exclude a family member from your will, doing so improperly could lead to legal challenges. A lawyer can guide you in minimizing the risk of a contested will; and
- Guardianship decisions: For parents of minor children, appointing a guardian involves legal considerations to ensure the guardianship is enforceable and aligns with your wishes.
Contact a Summit Estate Planning Attorney
Even a seemingly straightforward estate can sometimes hide complexities, so it is a good idea to consult with one of the experienced New Jersey estate planning attorneys at Dempsey, Dempsey & Sheehan. Contact us today to learn more about how we can assist with your estate planning needs in Summit.
Source:
law.justia.com/codes/new-jersey/title-3b/section-3b-3-2/
