There are so many things we all need to take care of as we live our life. Work is always at the top of that list, because we have to pay our bills. Of course, that money is also used for vacations and so much more. With things getting so expensive, we are seeing many people choosing to DIY numerous tasks. While we agree tackling certain tasks on your own can save you money, there are some things that simply need to be done by a professional. Legal documents are one of those things.
While you can complete legal documents on your own using templates, you can’t always guarantee they are done correctly. This is why we recommend you see a lawyer whenever you need any type of legal document.
The Types of Legal Documents You Should Have a Lawyer Do for You
Wills are one of the most important legal documents you can have. This legal document states your wishes at the time of your death. When you create a will, you name an executor. That person is in charge of carrying out your wishes, according to what is written in your will.
Trusts are helpful for many people. You can set up a trust at any time in your life. Most people choose to have a trust created to ensure specific people get certain assets. You are still in charge of your assets until the time you can no longer make decisions on your own or at the time of your death. Trusts are an excellent way to ensure family members do not need to go through the probate process.
There are two types of trusts. Revocable trusts can easily be changed. Irrevocable trusts cannot be changed very easily. A lawyer can help you determine which trust is best for your situation.
Power of Attorney
Having a power of attorney document created by a lawyer will ensure the person of your choice is able to make decisions for you if you become incapacitated. You can have the same power of attorney for your healthcare and finances. Or you can have one person in charge of your healthcare and another person in charge of your finances.
An estate plan is basically a few different legal documents all combined. When you decide to talk to a lawyer about creating an estate plan, you are tackling all the above legal documents at once. This is an excellent option if you want to make sure you have everything in order if something should happen to you. Plus, when you do everything at once with the same lawyer, you can be confident that nothing can void legal documents you already have in place.
For example, you have a power of attorney document you had created ten years ago sitting at home in your safe. Now you are at a different lawyer’s office working on your estate plan. You forgot to mention the power of attorney to your new lawyer. The new paperwork that is drawn up now voids that last power of attorney.
This may not be a big deal if you have the same person named on the new document. But if you changed your power of attorney, complications can occur later on when someone finds both documents when they are needed.
If you don’t have any of these legal documents yet, or want to make sure the legal documents you do have are all good, contact our office today to schedule a consultation. We will be more than happy to make sure your beneficiaries are covered in the event something unexpected happens.