There are many myths about hiring lawyers that can create significant hardship and problems for individuals and families. This is particularly true when it comes to estate planning.
Hiring an estate planning lawyer is the only way for an individual in Moline, IL, to have peace of mind that their wishes will be carried out after their death. Simple errors, omissions, and mistakes can create a potential tax liability, delay of probate, and significant depletion of the estate.
Myth: Estate Planning is Only for the Wealthy
Individuals of any income level can plan for the care of their loved ones. Estate planning includes more than just a will to distribute your assets; it also includes a living will, power of attorney, medical directives, the nomination of guardians for minor children or others, as well as options to protect your assets in the way the estate is structured.
Myth: You Can Always Do a Will on Your Own
While there are online programs and will kits you can use, they are not always current or accurate with regard to state laws. In Moline, IL, working with a local estate planning lawyer provides a cost-effective way to create a will that will stand up in court if challenged.
Sometimes, simple mistakes such as failing to sign in the correct location or missing an initial on a page can create problems for your family through probate. Additionally, missing items in the will can cause ongoing conflict for the family and run up legal fees that slowly drain their inheritance.
If you need to talk to an estate planning lawyer in Moline, IL, talk to the attorneys at David J. Franks, P.C. Information on our practice areas can be found at davidjfrankslaw.com.
