You can write your will and all the necessary documents yourself to establish your will when planning what to do with your assets. In book stores and on the internet there is a lot of useful material about it. However, before purchasing any of these educational products, it is important to consider whether your interests could be better served by hiring an Estate Planning Attorney in Orange County, CA to write the documents for you.
Here are the factors to consider:
Before deciding whether or not to hire an attorney, you should think about the following:
How big are your assets?
An estate includes not only bank accounts but also all real estate, including a house, personal property, jewelry, and other securities such as life insurance, pensions, and investments.
There are books and recommendations online that encourage “do it yourself” when writing a will and establishing your estate planning, But these tools are not designed to legally help an individual mitigate or eliminate the estate tax.
For example, if your properties are worth a million dollars or more, then you would be subject to this type of federal tax and the calculation will depend on the year you die. So, don’t underestimate the value of your estate, Estate Planning Attorney Irvine, CA can discuss various ways to decrease the amount of your estate, through trusts, or annual gifts to family members or other individuals, or making charitable contributions and in this way pay fewer taxes.
Do you want to create trust?
A properly drawn up trust can allow your assets to pass to your beneficiaries without incurring the cost of legalization, or without being subject to wealth tax.
These benefits are only used for trusts that meet certain requirements. Therefore, an experienced Estate Planning Attorney Newport Beach, CA may be better able to help you when writing these documents.
Do you have any special family circumstances?
If your family context is very particular, it would be a good idea to consult with an attorney so that you have the estate planning that best suits your reality.
For example, if you have a child with special needs and want to make sure that your child benefits from your capital, even if he is not trained to manage the inherited money, then it is in your best interest to consult Estate Planning Attorney California to find out how to proceed.
Similarly, if you have had multiple marriages or are looking to disinherit a child, then it is also advisable to seek the advice of a legal advisor.