I did some estate planning in the past with my financial advisor. Should I still consult an estate planning attorney?
Estate planning that a financial planner does is typically how assets are going to be used, what the stream of income is, when they’re going to be used for retirement, and what happens upon your death. That’s not the same as estate planning for the purposes of distribution of assets at death if you want those assets to be distributed either through a trust, or you want to disinherit somebody, for example, or you don’t want somebody to inherit outright. That kind of planning has to be done with the assistance of an attorney to make sure that those assets at your passing are distributed to the people in the manner in which you want them distributed, whether it’s outright or through a trust or maybe they get income only. These are the considerations that you must look into how to distribute your assets through an estate planning document with the assistance of an attorney.