5 Reasons to Get Help With Your Will

9:17 pm Estate Planning, Wills

Will1 5 Reasons to Get Help With Your WillWhile there are plenty of no-cost and low-cost will creation options online, none of them will guarantee that a will you create on your own will not have any mistakes that could cost your heirs plenty.  A recent Forbes.com article outlined the five reasons why you should seek professional help when creating a will:

1.  It’s inexpensive.  Considering what a mistake could cost your loved ones, attorney fees for drafting a will are a relatively small expense, depending on the complexity of your estate.

2.  No mistakes.  A will must be free of any errors to be valid.  Some of the most common errors include forgetting to sign the will, not letting anyone know where it is, forgetting to update your will and making additions to a will incorrectly.

3.  Eliminate confusion.  Wills that are worded in vague fashion often cause confusion.  Language must be highly specific and estate planning attorneys use standard language that will be understood by courts, executors and beneficiaries.

4.  Cover the contingencies.  Since you probably don’t think like a lawyer, you are not likely to envision all the contingencies that must be covered in a will.  For example, what happens if you outlive a beneficiary in your will?  Or if an asset you are willing to someone is later sold before you die?

5.  Validity.  Handwritten wills may be considered invalid if they do not follow the proper guidelines.  Different states have different rules on how many and who may witness a will, as well as other variations that must be taken into account.

Contact us today and let our Newport Beach law firm help you with all your financial planning needs.

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