If your employer offers employee benefits, chances are that those benefits include medical insurance. When using this medical insurance, you pay smaller or sometimes no cost for doctor visits, medications, and other health care expenses. This same insurance model exists for legal expenses as well. Some employers offer legal insurance. Legal insurance companies cover attorney fees for an array of legal issues and matters, including estate planning. Some legal insurance policies are also available for individual purchase outside of employer-based plans. A common legal insurance company is ARAG.
When available, legal insurance helps individuals and families cover or minimalize estate planning costs. For some, it allows them to set up a more complicated plan that truly suits their needs. Legal insurance is also very helpful for clients whose estate plan involves multi-state issues. For example, if a client owns real estate in multiple states, the legal insurance network covers the cost of drafting deeds for each piece of real estate although the services of multiple attorneys are needed. In addition, the breadth of the legal insurance coverage serves families well. Depending on the type of plan, a client may be able to cover the costs of estate planning for not only themselves and their spouse but for their children or parents as well.
Not all law firms accept legal insurance. Most legal insurance companies require approval for each and every attorney that wishes to accept legal insurance benefits. For example, Rosenacker Law Office has multiple attorneys approved to accept ARAG legal insurance. In this new year, inquire into whether legal insurance is a good option for you and your family. Contact us for more information about using your legal insurance benefits at our firm to create, update, or change your estate plan.