You may be wondering if you need to hire an estate planning attorney in order to handle your will and trust needs. The answer may vary depending on your situation, but most of the time, it can be highly beneficial to enlist the help of an attorney. Here are some reasons why it’s especially important to consult a lawyer for advice.
1. Estate Planning Attorneys Are Experts
Wyoming state law is very specific when it comes to who can act as a personal representative or a witness. It even governs what can and can’t be included in a will or trust. In some very simple cases, you may be able to do much of the work to set up a will or trust on your own. However, it’s important to remember that a single word or phrase can change the entire legal meaning of a document, and many legal help sites and templates are not set up to reflect the intricacies of Wyoming law. Not only that, but there are procedural formalities that have to be observed to make the will or trust valid. Consulting an estate planning attorney can be beneficial in making sure your will or trust has the very best chance of holding up in court.
2. You May Need Help With Legal Decisions
There are many people who know what they want in life, and what they want to pass on to future generations. However, when preparing a will or trust, there are hundreds of small decisions that can have surprisingly large effects, not all of which you may have thought about beforehand. With the guidance of a good estate planning attorney, you can be helped to make sound decisions that are in good legal interest for yourself and your family. Again, having the expertise of an estate planning attorney will help you have the guidance you need in making small, intricate decisions that may have a large legal effect.
3. Save Time And Money Down The Road
Your family and beneficiaries may be in for an unpleasant surprise when they realize that your will or trust won’t work the way it was intended to, despite your best efforts. They will then have to spend their time and money hiring qualified estate planning attorneys to sort things out – and even then, they may not see all of the benefits you had every intention of bestowing on them. It’s easiest on all involved to make sure it’s done correctly the first time.
4. An Estate Planning Attorney Can Help With Complications
If you’re single, or married only one time and not divorced, you may be able to successfully take on the task of will or estate planning (though it’s still very important to make sure you get it looked at by a qualified estate planning attorney.) However, if any of the following apply to you, you will be far better off hiring an attorney to help.
- You are divorced, divorced and remarried, or widowed and remarried
- You have small children. It’s important to settle matters of guardianship once and for all in the event of an unfortunate circumstance that leaves you unable to care for them for whatever reason.
- You have no children and want to include people other than family in your will
- You own a business (or perhaps more than one)
- You have large amounts of assets you’re passing down, and/or you want them split specific ways
- You own real estate outside of Wyoming
If you are in one or more of those situations, it would be best for you to hire an estate planning attorney. Your money will be well invested and you will be able to enjoy the peace of mind that comes with knowing that your assets and loved ones are being treated the way you want them to be.