Justia.com
Last Reviewed October 2024
Estate planning arranges for the transfer of an individual’s estate at the time of death. An estate consists of all property owned at death before it is distributed by will, trust, or intestacy laws. An estate may contain both real property (real estate, including houses and investment properties) and personal property (all other property, including bank accounts, securities, jewelry and automobiles). Typically, the process of estate planning involves extensive consultation with a number of professional advisors, including lawyers, financial counselors, accountants and life insurance representatives.
Estate Planning Legal Center >> Frequently Asked Questions
Whether or not you need an estate planning lawyer to help you draft a will generally depends on the extent and complexity of your assets. Many people will only use a will for the purpose of passing on things like a home or personal property to their loved ones. In preparing your will, it is important to meet certain basic procedural requirements like making sure you have witnesses when you sign the necessary documents. However, with some careful reading and research, it is certainly possible to draft a valid will on your own if your estate is relatively simple. If your estate will be more complex and/or involves significant assets, it may be best to work with an attorney to ensure that your wishes are carried out with respect to the disposition of your property.
