7 Reasons to Hire an Experienced Estate Planning Attorney

In the digital age, online estate planning tools like Quicken WillMaker, LegalZoom, Trust & Will, and GoodTrust have made it easier and more affordable for individuals to create essential legal documents from the comfort of their homes. While these tools may not be suitable for everyone, there are several situations where they might be a good fit:

Simple Estates

If your estate is straightforward, with few assets and no complex financial arrangements, an online tool can be a convenient and cost-effective solution. For example, if you own a home, have a retirement account, and some savings, an online will or trust can help you designate beneficiaries and outline your final wishes without the need for extensive legal advice.

Young Individuals or Couples

Young individuals or couples who are just starting to build their assets and do not have children or significant financial complexities can benefit from the simplicity and affordability of online estate planning tools. These platforms allow you to create basic wills and powers of attorney, designate guardians for future children, and set up healthcare directives with ease.

Cost-Effective Solutions

Online estate planning tools are often much more affordable than hiring an attorney, making them an attractive option for individuals on a budget. For example, Quicken WillMaker & Trust offers a comprehensive suite of documents for a one-time fee, allowing users to create wills, trusts, and healthcare directives without incurring ongoing legal costs.

Basic Legal Documents

For those who need basic legal documents, such as a simple will or revocable trust, power of attorney, or healthcare directive, online tools can provide all the necessary forms and instructions to ensure these documents are legally binding. Trust & Will, for example, offers state-specific wills and revocable trusts and other essential documents that are designed to meet legal requirements.

Here are some scenarios where hiring an experienced estate planning attorney would be more prudent:

Complex Family Dynamics

If you have a blended family, children from multiple marriages, or strained relationships with or concerns over potential heirs, an online tool may not adequately address the nuances of your situation. An experienced estate planning attorney can help navigate complex family dynamics, mitigate potential conflicts, and ensure your wishes are clearly documented and legally binding.

Significant Assets or Business Interests

For individuals with substantial assets, investment portfolios, real estate holdings, or business interests, online tools may not provide the level of customization and tax planning strategies required. An experienced estate planning attorney can help structure your estate plan to minimize tax liabilities, protect assets, and ensure a smooth transition of ownership.

Estate Tax Considerations

If your estate is likely to be subject to federal or state estate, gift or inheritance taxes, an experienced estate planning attorney can help you implement strategies to minimize or avoid these taxes, such as creating trusts or making lifetime gifts. Online tools may not offer the level of expertise required for complex tax planning.

Special Needs Beneficiaries

If you have a beneficiary with special needs, an experienced estate planning attorney can help you establish a special needs trust to ensure that your loved one's inheritance does not disqualify them from receiving government benefits. Online tools may not provide the necessary provisions for this type of situation.

Out-of-State or International Assets

If you own property or assets in multiple states or countries, an experienced estate planning attorney can help ensure that your estate plan complies with the relevant laws and regulations in each jurisdiction. Online tools may not account for the complexities of cross-border estate planning.

Charitable Giving or Trusts

If you plan to leave a portion of your estate to charitable organizations or establish charitable trusts, an experienced estate planning attorney can help you navigate the legal requirements and tax implications to ensure your wishes are carried out as intended. Online tools may not offer the necessary customization for these types of arrangements.

Concerns About Will Contests

If you anticipate that your will may be contested by disgruntled heirs or family members, an experienced estate planning attorney can help ensure that your estate plan is airtight and less susceptible to challenges. Online tools may not provide the level of legal protection required in these situations.