In the information age it is possible for us to obtain knowledge about virtually any subject immediately with a simple click of a mouse, and this has been a positive development in so many different ways. However, there is such a thing as a little bit of information being a dangerous thing, and this is certainly true when it comes to legal matters in general and the specialty of estate planning in particular.
If you browse the Internet looking for information on estate planning you will see Internet marketers offering do-it-yourself will kits and generic estate planning templates. The marketing material makes it sound as though planning for the transfer of all the assets you have accumulated throughout your lifetime to your loved ones after your death is as simple as “filling in the blanks” on a one-size-fits-all document.
The fact of the matter is that anytime you are executing a legal contract of any kind it is always advisable to engage the services of a licensed attorney. But when it comes to something as important as passing along your legacy to your loved ones, the need for experienced legal counsel is all the more important. Each case is different, and depending on the specific anatomy of your estate exactly how to proceed is going to vary.
Estate planning attorneys understand all the estate planning tools that are available and they implement the appropriate ones based on the dynamics of the situation. Estate planning is not a matter of being boxed in to the singular option of drawing up a last will, and indeed this is not always the best way to transfer your assets to your loved ones.
By all means, utilize all of the resources that are available to you to educate yourself and gain an understanding of what estate planning is all about. But when it comes actually executing a plan, the wise course of action is to do so with an experienced estate planning attorney by your side.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.