Why Should I Use an Attorney Versus a Document Preparation Company?
Both an attorney and a document preparation company will prepare documents with information you provide. The primary difference, however, is that an estate planning attorney will ask you questions based on the information provided, which can prompt additional discussion, and in most cases result in additional provisions outside of a basic form.
An attorney, in essence, will put thought into your estate plan and come up with potential ideas to save costs and reduce the time that you have to devote to your own plan.
Another significant difference is the implementation of an estate plan. With a document preparation company, one typically will have the estate planning documents prepared, but everyone will need additional ancillary documents to fund their trust. At a minimum, people must be advised to fund their trust properly, which may involve review and analysis of deeds and the preparation of a deed into your trust for any real estate.
Though an attorney is more expensive, you are building a relationship for potential revisions in the future and ultimately for someone to assist in the administration after your death. An attorney will generally maintain your client file, and it may have information on assets or other information necessary for the administration in the future.
You may also be interested in:
- What is an Estate Plan?
- Where Should I Put my Estate Planning Documents?
- Why Should I Have an Estate Plan?
- What is a Trust?
- What is a Last Will and Testament?
- What is a Power of Attorney?
- What is an Advance Health Care Directive? How is it different from a Living Will or a Power of Attorney for Health Care?
- What are Some Ideas for Distribution Schemes?
- Who Should Be My Trustee?