5 Things Estate Planning Attorneys Want You To Know
Cincinnati estate planning attorneys can provide invaluable help to you as you make plans for your future. Unfortunately, far too many people do not really understand what estate planning attorneys do or why it is so important to make an estate plan. When people don’t realize the benefits of estate planning, they may go without the plans that they need — putting themselves and their families in a bad situation.
Zimmer Law Firm can help to make sure that you have the right plans in place to protect your assets, to protect the people who you love, and to secure your legacy. You should give us a call to get personalized advice from Cincinnati estate planning attorneys at our firm. You can also read on to find five key things that estate planning attorneys want you to know.
1. Estate Planning is Important for Young People Too
Far too many people think you have to be old to make an estate plan. It is actually really important for young families to have plans in place. Parents with young children, for example, need to specify who will care for their kids if something happens to them and need to make sure there is money available to provide for children. If you are young and unmarried with pets, you may need a plan to ensure your pet is cared for. No matter what your situation, you should have a plan to protect yourself and the people you are love because you are never too young for disaster to strike.
2. Estate Planning Goes Beyond Just Making a Will
Many people think if they make a last will and testament, they are done with the estate planning process. Unfortunately, there are lots of things a will doesn’t do. A will usually doesn’t give you the ability to take control over who will manage assets you leave to a minor or to specify what those assets should be used for.
Wills don’t help you to avoid estate tax, and they may be too slow and inefficient if you’re trying to transfer a business or assets that need to pass quickly to new owners so they can be managed hands-on. Since there are so many other legal tools you can use, you shouldn’t just make a will and assume there’s no other tools that would help you better accomplish your goals.
3. Estate Planning Isn’t Something You Can Do On Your Own
Trying to handle estate planning on your own could lead to big mistakes. You might not follow the proper processes to ensure that your will is valid and you might not choose the estate planning tools that best provide for your loved ones and protect your future.
Mistakes often are not discovered until it is too late for you to correct them and you’ve lost the chance to protect your assets or to leave your legacy. You don’t want to end up losing the chance to determine who inherits or losing the asset protection you thought that you had in place. Working with Cincinnati estate planning attorneys allows you to ensure that your estate plans are going to work as planned,.
4. Estate Planning is an Ongoing Process
When you make your estate plan, you may need to update it as your life changes. For example, if you buy or sell assets or add new members to your family, you will need to update your plans. You should meet with your estate planning lawyer when a major life change occurs, and about once a year to understand how changes to the law or other little changes could affect the plans you have in place.
5. Estate Planning Can Allow You To Shape Your Future
Estate planning is about more than just dictating who will inherit. You could also put advanced directives in place in case you get sick and create a power of attorney so you get to decide who makes decisions on your behalf if something happens to you. By making use of effective tools that allow you to plan for your future, you can maintain your independence and autonomy as long as possible — even if tragedy strikes.
Getting Help from Cincinnati Estate Planning Attorneys
If you are ready to make your comprehensive estate plan, our compassionate and knowledgeable legal team is here and ready to help you. Our Cincinnati estate planning attorneys can provide you with personalized one-on-one help specific to your situation and will work with you to make effective use of legal tools to secure your legacy.
To find out more about how Zimmer Law Firm can help you with all of you estate planning needs, join us for a free seminar. You can also give us a call at 513-721-1513 at any time.