What is Estate Planning Documents Drafting?
Estate planning documents are legal documents that help you to distribute your assets if you are incapacitated or pass away. Ensuring that these documents are clear and legally valid will help you to fulfill your wishes while preventing disputes between dependents.
Read the rest of this article to explore the most common estate planning documents, how to draft them, and how a qualified lawyer can assist you with the estate planning documents drafting process.
What are Common Estate Planning Documents?
There are various types of estate planning documents you might need to draft. These include the following:
- Last will and testament. This legal document explains how your assets will be distributed after your death.
- Power of attorney. This document authorizes a trusted agent to manage your legal and financial affairs, such as if you can’t make decisions.
- Healthcare power of attorney. This appoints a person to make medical decisions when you are unable to.
- Living will. This specifies your preferences regarding medical treatments and life-sustaining care, such as if you suffer from a terminal illness or require life support.
- Living trust. This type of trust manages your assets during your lifetime, with the goal of distributing them after you pass away without going through a lengthy probate process.
How Do You Draft Estate Planning Documents?
Since you want your estate planning documents to be clear and detailed, you should consider these tips when drafting them.
Consider Future Scenarios
When drafting your estate planning documents, you should consider what might happen in the future that could affect them. For example, what if you’d like to change your appointed agent or if your beneficiaries pass away before you?
Thinking about possible scenarios helps you to include provisions in the document to safeguard against risks. For example, you might want to name a second agent or specify alternative beneficiaries.
Think About Your Objectives
You should consider your goals and circumstances when drafting estate planning documents. Have a clear understanding of your family relationships, finances, and intentions. For example, when drafting a living trust, think about whether you want to avoid probate and provide for a surviving spouse, or protect assets for your minor children.
Clearly Identify Parties
All people who are mentioned in the estate planning documents must be identified properly, with their authority clearly defined to prevent ambiguity or disputes. For example, when drafting a power of attorney document, you should specify when and how the appointed agent is allowed to make decisions.
Maintain Consistency Across Documents
No estate planning document stands in isolation. It should be related to other estate planning documents so that they’re consistent and you can avoid creating confusion with conflicting provisions. For example, your last will and testament must be aligned with your living trust so that there’s no confusion over assets.
Comply with Legal Requirements
Your estate planning documents must be compliant with all legal requirements. For example, they might need to be witnessed or notarized, depending on the state where you live. Understanding the rules and laws in your region will ensure they are legally valid.
How Does a Lawyer Assist You with Estate Planning Documents?
A lawyer can help you in various ways when drafting estate planning documents. They will ensure you don’t miss anything important that can cost you or result in non-compliance. Here’s how a lawyer will assist you through the contract-drafting process:
- A lawyer will assess your circumstances and goals so that they can draft a customized document that caters to your needs.
- They’ll help you understand complex legal issues, such as tax implications, so that there’s no confusion.
- They’ll ensure that all estate planning documents are legally compliant with your specific jurisdiction’s legal requirements.
- They’ll properly execute the estate planning documents, such as in terms of witnessing and notarizing them, depending on what’s legally required.
- They’ll use clear language that makes it easy for parties to understand, avoiding ambiguity or disputes.
- A lawyer will review your estate planning documents periodically, such as if there are significant tax law changes or changes in your relationships, so that they’re always relevant.
- A lawyer will consider future events that might occur, such as if your executor passes away before you, to protect your interests.
Where to Find a Lawyer for Estate Planning Documents
If you need to search for a qualified lawyer to help you draft estate planning documents you require, you might wonder where to find one who’s reputable and experienced in your region.
Instead of calling law firms, you can use an online legal platform to help you locate the right lawyer. This is a convenient way to gain access to qualified lawyers in your region who are experienced to assist you.
ContractsCounsel is one of the largest online legal marketplaces that gives clients access to a network of vetted lawyers. Lawyers on the platform can draft your estate planning documents for you to ensure they’re legally sound and clear, and that you haven’t missed anything important.
The process of requesting that a lawyer drafts your estate planning documents on ContractsCounsel is easy as you don’t have to leave your home. Here are the steps to follow online:
- Go to the ContractsCounsel marketplace.
- Post your project for free. Include a few details to help you find the most suitable lawyer, such as why you require the specific documents or what you want them to achieve.
- Wait for multiple bids. You’ll receive multiple bids from lawyers directly on the platform.
- Review the lawyers’ profiles. Go through the platform’s lawyer data, such as their location, client ratings for previous projects, expertise, and credentials. This will help you select the most suitable lawyer.
- Connect with a lawyer and hire them to draft your estate planning documents for a flat fee.
