Welcome back! Our lawyer in Cary NC is here to talk more about DIY estate planning and how many mistakes you could make when doing so. Sometimes, the best choice is to work with a lawyer, instead. It might seem more cost efficient at the time, but in the long run, DIY planning could cost you more. If you missed our previous blogs, be sure to visit back with them, as well, so that you're able to learn about even more mistakes that could be made.
DIY Estate Planning Mistakes | Lawyer in Cary NC
Not adding power of attorney information.
You can add a power of attorney to your estate plan that will give the person you designate the power to make financial or health decisions on your behalf. You can choose one person to handle both or two different people. If you become incapacitated or die, that person will have instructions on how to handle your affairs.
Not checking insurance and investment beneficiaries.
If you have life insurance or a retirement plan, you can name a beneficiary who will have control of the funds when you are gone. If someone is not named, the funds will go to the estate and may be subject to probate. The funds may also be subject to estate tax. Make sure the beneficiaries named on your policies match the records in your estate plan to avoid confusion.
A lawyer Cary NC who has worked in estate planning can help you craft a comprehensive estate plan that meets your needs. He or she will know the right questions to ask to access your situation, which probably involves more than the generic solution a DIY kit or web site will provide.
Are you over the age of 18 and still don’t have a will in place? If so, consider drafting one. A lawyer in Cary NC can help you get everything documented and finalized. It’s never too early, or too late, to create your estate plan, but the sooner the better.
Our lawyer in Cary NC are here to help you get your estate plan in order so that everything will be ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our us to get started estate planning, today.
Eldreth Law Firm, PLLC
As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact our lawyer in Cary NC to schedule a consultation if you have yet to start estate planning. It's never too early to make plans for your wishes upon death. In addition, we are here to help you with all your legal matters, whether it be divorce, child custody, trademarking, copyrighting, or DWI issues.