When Should You Get an Estate Attorney for a Will?

Creating a will and testament is the ideal way to ensure your final wishes are respected after your death. According to Gallup, 76% of individuals who are 65 years old have a will. However, more people are beginning to make wills at a younger age. Here are circumstances where you should hire an estate attorney to help you create a will.

Complex Wishes

Creating a will can be simple or complex, depending on your assets. Individuals with more assets will want to work with a licensed professional to ensure their final wishes are carried out. This may include selling a business, leaving specific things to certain people, or ensuring others don’t receive a dime. An estate attorney will help you familiarize yourself with local laws and regulations to ensure respect for every wish.

Estate Taxes

The more assets you have, the more estate taxes your loved ones will have to pay after you pass away. Some individuals set aside money in a trust or specific assets to cover taxes, ensuring loved ones aren’t burdened with them. Working with a lawyer can also help you lower your tax bill. Lawyers understand complex inheritance laws and can help you make the right moves now to decrease your estate taxes later.

Life Changes

Over the years, many people have experienced life changes. You may go through a marriage or a divorce. You may gain grandchildren and want to leave them something. Likewise, you may decide that there are certain people you don’t want to have anything. As your life changes, it’s common to change your will to suit your preferences and the people in your life. A professional can help you make the necessary adjustments.

Establishing Trusts

Trust funds are an excellent way to protect your wealth. Living trusts are common and can give particular beneficiaries access to specific assets. It’s common for individuals to set up a trust fund for children and ensure they get a particular amount each month or year. Trusts give you more control over your wealth and who winds up with it. Working with a professional estate attorney ensures your final wishes are fulfilled. Navigating will creation, ensuring it isn’t contested, and establishing trust funds can be complex, but we’re here to help. Contact Twin Falls Estate Planning, PLLC to schedule an appointment today.