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According to the American Bar Association, over half of Americans die intestate — that is, without a will or estate plan in place. Lacking an official directive, property and assets are distributed by state law as opposed to the wishes of the deceased. Hiring an estate planning attorney will go a long way towards ensuring your property and assets are distributed as you see fit while reducing the burdens and tax liabilities associated with probate proceedings. 

Estate Planning vs. Simple Wills

Although estate planning and wills are often used interchangeably, there is a major difference between the two terms. A will is just one of several important legal documents that make up a comprehensive plan. In addition to asset and property distribution, estate planning handles debts and finances, outlines health care directives, and avoids probate. 

Attorney vs. DIY

bankruptcyThere is no shortage of online DIY estate planning resources. And while you may be able to save a few dollars by going the self-help route, doing so may cost you in the long run. For instance, if your documents are found to be invalid or fail to work as intended, your family may be forced to invest thousands of dollars into patching up the mistakes. A seasoned attorney will work to ensure that all your wishes are carried out while providing you with expert guidance and advice beyond the scope of a simple will. They’ll grant you peace of mind and minimize the potential burden on your family. 

 

Those with multiple real estate holdings, minor or adopted children, substantial retirement assets, or business investments will benefit greatly from the counsel and services of an estate planning attorney. In Chardon and Orwell, OH, residents turn to the experts at Ibold & O’Brien. Serving clients since 1980, their seasoned team provides the quality legal counsel you need to protect your desires and best interests. To schedule a consultation, contact their Chardon office at (440) 607-5228 or their Orwell office at (440) 437-5295. Visit them online to learn more about their firm.

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