After accumulating your assets for years, you may want to plan on how they will be managed when you are no longer there to look after them. The process involved can be done individually without professional help. A friend may, however, advise you to hire an estate planning attorney in Portland Oregon due to the following reasons.
Understanding the law can be overwhelming due to the hard terms and vocabularies used. If you try to understand it yourself, you might end up misinterpreting some of the clauses, and this can have you making huge mistakes regarding the inheritance of your property. By hiring a lawyer, all the questions you have will be answered, and you also get to be educated about the law using a simpler language.
Drafting a will is not easy too. The paperwork involved can discourage you, and having someone who can guide you makes things simpler. Since they are experienced, the lawyers are less likely to make mistakes when filling out forms and drafting the will. You can hence relax knowing that everything will happen as per your wishes without any misinterpretation or omission.
The professional is also trained in handling taxation matters. He will use this knowledge to help you file the required tax returns and even help you get a tax evasion where possible. This is something you may not achieve on your own due to the complexity involved in making the application. Evading a certain amount of tax means more savings for you.
Since most lawyers also practice probate, hiring one is cheaper as you get both services at a lower rate. If you pay a probate officer, his charges could be similar to hiring an attorney, yet he will not offer the services rendered by attorneys. It is hence wise to work with the latter as you get value for your money. Even if he charges a slightly higher amount, the benefits you will enjoy are worth the investment.
These professionals have a lot of beneficial links and connections. For instance, if you are looking for an accountant to help you value your wealth, the lawyer will help you get one within a short period. Since the accountant was recommended by someone you trust, you will have confidence in him to handle your financial matters. This gives you some peace of mind.
Sometimes you may be undergoing some personal family crisis, and professional advice will come in handy. For instance, if you have several wives and step-children, you may be confused about how to share your wealth. The advice of the people around you can be misleading as they may be a bit biased. A lawyer will offer professional solutions that are based on experience.
If you choose to write the will yourself, you will probably use websites to gain information. This may seem easy and cheap. However, in case of a problem, you will not have anyone to help you address it or someone answerable for it. Lawyers, ensure that your case is handled with care, and your will is kept in a safe place. This kind of care cannot be found in websites and other online platforms.