If you think that estate planning is something you can do on a do-it-yourself basis, then you need to think again. The estate tax release legislation of December 2010 raised the value of the property that could be left free of the estate tax by an individual to $5 million adjusted for inflation every year.
One other important change involved minimizing the maximum federal estate tax rate to 40 percent. You can browse http://www.lawbh.com/ventura-asset-protection-attorney/ in order to take help from top estate planning attorney.
As a result, rising number of people want to avoid paying for the services of a lawyer for this type of law. What they don't understand is that estate planning is a difficult business.
All it takes is a single missing signature or wrong word to change a will or trust's entire content. Keep reading to find out three compelling reasons why it is essential to appoint an attorney for estate planning.
Specific State Laws
Each state has its own laws when it comes to determining who can and can't be in a will, trust, medical power of lawyer, or financial power of attorney. There are also differences between the formalities that require being observed when signing an estate planning document. To know more about estate planning attorney you can hop over to this website.
The development of the Internet has led to a plethora of legal documents that are easily available online. This makes legal representation appear needless.
The problem is that you can fill in your online forms quite happily, only to find out that part or all of your will, trust, financial power of attorney, or medical power of attorney is either invalid or doesn't work as you predicted.
If this happens, your family may require paying thousands of dollars to fix the fault and will end up appointing an estate planning attorney in any case.