Why You Need Help from a Living Trust Attorney
Contrary to common belief, creating a living trust isn’t just for the elderly or rich people. It can be a beneficial tool for people from all walks of life—even those without hefty bank accounts, million-dollar yachts, or luxury mansions for homes.
These days, trusts are an effective estate planning tool that can help anyone achieve their financial objectives. However, many people wonder why you need help from a living trust attorney. Today, our legal team is answering that very question.
Here are the top 5 reasons why you need help from a living trust attorney:
1. Living trust laws vary from state to state.
Each state has its own rules that govern estate planning. For instance, some assets are accepted in living trusts, and the addition of a prohibited asset can make the whole trust null and void. Besides, your location can dictate how the trust should be signed and who can act as a personal representative or a witness.
A living trust attorney is familiar with the state laws and can help ensure you create a legally binding trust. And if there are any changes to the state laws, a trust attorney can help make the necessary changes to keep your trust valid.
2. DIY comes with a disclaimer.
If you choose to DIY or purchase an inexpensive online form, make sure you read the accompanying disclaimer. These estate planning software disclaimers are another reason why you need help from a living trust attorney.
The online sites that sell these generic forms state clearly that they are not giving any legal advice. This means that their documents are not an appropriate alternative to tailored legal advice—so it makes perfect sense to heed their warning. It’s better to be safe than sorry!
For a legally binding document, you should partner with an experienced attorney. A living trust requires a lot of paperwork and can be more expensive because of legal fees. However, you can avoid probate with a living trust, and the savings on future probate costs can help offset those attorney fees.
3. Beware of costly estate planning mistakes.
Cutting corners on the estate planning process can lead to expensive errors—many of which cannot be corrected once you have passed. Estate planning is an enormous responsibility, and one false statement or typo can completely alter your trust or Will.
Mistakes can be devastating, particularly if they break the law. Hiring a skilled living trust attorney can help you avoid costly estate planning mistakes.
4. Estate planning has no “one size fits all” solution.
Generic online forms can be pricey for you and your family, and they might not suit your unique circumstances. Hiring an estate planning attorney will give you peace of mind because they will work with you to create a plan suitable for your unique situation. Then you know that you’ve invested in an estate plan that will actually work.
5. Estate planning is best left to the professionals.
Drafting a living trust is often a complex process. There are certain terms you may not understand, and certain steps must be followed for it to be valid.
For the best handling of your assets, it’s imperative to hire a qualified attorney to guide you through every step of the estate planning process.
Top-Rated Living Trust Attorneys in Arizona
Hiring a living trust attorney is a wise investment for anyone who needs professional advice about estate planning. If you or a loved one are interested in setting up a living trust, the experienced attorneys at Rilus Law are here to help.
For professional advice or to learn more about why you need help from a living trust attorney in Arizona, contact our legal team today.
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