Whether you need a lawyer to make your will depends on several factors. One is your financial situation, and the other is the complexity of the issue at hand. For example, if you own a large business and have several shareholders, it may be worth your while to hire a professional to help you write a will that is effective and legally sound.
You can certainly make a will without the aid of a lawyer, but itâ€™s not recommended for most people. The costs can be steep, and you could end up with an invalid document if your will doesnâ€™t meet the legal requirements of your state.
The three main conditions that make a will valid are that itâ€™s signed by the deceased, witnessed by at least two people, and notarized. Each state has its own laws governing these requirements. So, itâ€™s important to understand these laws before you begin writing your will.
A will that is properly drafted and executed can be difficult to contest, even in court. The challenger has to prove that the will was not witnessed, that you were not competent when you signed it, or that you had an intent to defraud or coerce your loved ones in order to get a share of their estates.
Another consideration is how you want to distribute your assets, or whom you would like to appoint as guardians of your children. You can use a tool called the Uniform Transfer to Minors Act to specify who should care for a child and manage their inheritance. You can also designate a specific person to manage the money in the event you die before your child turns 18.
In many cases, these tools are very helpful. However, they can also create legal issues that you donâ€™t see or understand. You need to be aware of these issues so that you can address them proactively before they become problems in the future. Recommended this site car accident law firm .
The best way to determine if you need a lawyer is to consult with a local attorney who can give you advice on whether the laws in your area are applicable. They can explain to you how to meet the stateâ€™s standards for a valid will and can help you make sure your plan is legally sound.
You can also get a do-it-yourself will kit that includes templates and instructions for preparing your own will. These kits are usually available online or at a local store and can be reasonably priced.
While a do-it-yourself will may be less expensive than having a lawyer draft your document, it is still likely to cost you at least a few hundred dollars. Depending on the level of complexity of your document, it can cost much more.
Lastly, you should always keep an updated copy of your will somewhere safe so that it can be accessed quickly in the event of an emergency or a change in your life. A marriage, divorce, the birth of a child or a major property investment are all times when you should review your will to ensure itâ€™s up-to-date and meets your current wishes.