Online forms and do-it-yourself articles make writing a will and planning your estate look easy, but do they really help you with the details? Will your descendants be exposed to tax liabilities? Will your spouse be able to manage your affairs for you if you're disabled? Comprehensive estate planning is much more complex than it looks at first glance, which is why Ibold & O’Brien in Chardon, OH, suggest letting an attorney walk you through the process.

1. Decreased Tax Burden on Your Beneficiaries

Even if they're not liable for the estate tax, some beneficiaries may wind up paying taxes on their inheritance. The tax code is notoriously complex, but an experienced attorney will be able to identify potential issues, as well as the best vehicles for resolving them. For instance, leaving some of your money in a trust for your spouse can effectively double the tax exemption on your estate.

2. Effective Communication of Your Wishes

When many people think of their assets, they tend to forget small items and concentrate on their more valuable belongings. An estate planning attorney is experienced in getting their clients to inventory their belongings and decide how those belongings should be distributed after your death. Leaving instructions for emotionally valuable items can avoid potential conflict between your family members in the future.

3. Complete Powers of Attorney

You might think that your spouse would be able to sell the house if you're unable to make decisions for yourself, but this is actually not the case. You'll need durable powers of attorney which give those you trust specific authority to act on your behalf. They can be as broad or as narrowly tailored as you like, empowering others to run your business, make health care decisions, or handle your investments.

For over 35 years, the attorneys at Ibold & O’Brien have provided thorough, compassionate service, guiding their clients through every step of the estate planning process. Visit their website to learn more, or call (440) 607-5228 to speak with a member of their team.