Hindsight is 20/20

Sat, Mar 5, 2016

Estate Planning, Probate

5337219008_fa1b6d1f58_bEver heard this phrase? Ever lived this phrase? We all have, to some degree. The solution is always clearer when it’s already done and over with, and this can’t always be avoided.

However, don’t let hindsight be 20/20 when you can avoid it in your legal and financial life. Making use of trained professionals to help you navigate the dangerous waters in financial and legal decisions is a great way to have the outcome your desire. Make sure you are spending more time on the solution than the problem, now or later.

The best choice is to hire a professional to provide the advice you need. Some people may think hiring a professional is cost prohibitive, but is usually cost effective for the important decisions in your life. One example is estate planning: The phrase “Hindsight is 20/20” really doesn’t apply to you in this area, just your loved ones. Those who depend on you making good decisions are going to be pretty mad at you when they find out you saved a few hundred dollars up front and could have saved thousands or more for that small investment. This is especially true in the making of wills and trusts.

Real estate attorneys are another good investment for your dollar. They can alert you to problems you might encounter and help solve the ones you do encounter, especially if they are involved in the process from the beginning. It never hurts to have as much legal counsel as you possible when you are purchasing one of the biggest assets of your life.

Another time to think of consulting professionals is when you are getting married or divorced. Consulting an attorney to make some prenuptial agreements is a stellar idea. A pre-nup can solve some of the issues while you still get along. Then you have the hard stuff out of the way in case you eventually divorce. If you are thinking of getting divorced without an attorney, please think long and hard about that one because it can have devastating consequences for everyone involved…especially the children.

Another good time to consult with an attorney is while you are setting up a business and while you are running a business. It’s not always easy to know what you need and how to handle certain decisions. You want to be sure that you are making wise decisions from the beginning, and not wishing you had consulted an attorney when your not-so-wise decisions start haunting you.

Overall, don’t be penny-wise and pound-foolish. You can avoid learning only through 20/20 Hindsight when you have proper professional assistance from the beginning.

Attorney Christopher D. Smith, Sr. is designated a Board Certified Consumer Bankruptcy Lawyer by the American Board of Certification.  SmithLaw is located in Lakewood Ranch, Florida.  Attorney Smith concentrates on bankruptcy, civil litigation, probate, family law, estate planning, real estate, and elder exploitation cases in the Sarasota and Bradenton area.  Call 941-202-2222 to learn more.  SmithLaw offers free consultations in certain areas, including consumer bankruptcy, probate, and personal injury matters.

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