If you’re beginning to think about your estate planning needs, you may be considering the use of a Will. A Will allows you to prepare for the future in three ways. If you’re just beginning your planning, you need to better understand how a Will works. Take a look at the following information, to better understand this planning tool. If you have any questions, or if you’d like to execute a will, contact an estate planning attorney.
What can a Will do?
A Will can accomplish many planning needs. With this important document, you can do the following:
- You can outline your wishes for after death property distribution
- You’re able to appoint a guardian for the care of your minor children
- You can appoint a personal representative (executor) to handle your estate affairs
A Will Keeps You in Control
A Will allows individuals to have control over the future. It’s one of the most important estate planning documents that exists. If you don’t create a Will, you will have no control. This means that your state laws and the court can determine important issues on your behalf. Do you want someone else deciding how your assets will be distributed or who will care for your child? If not, you need a Will.
Why You Should Work With an Estate Planning Attorney
If you’re ready to draft your Will, it’s important to work with an attorney. This will allow you to have a valid and legal Will that meets your needs. Attempting to create your own Will may mean that you have an invalid Will, and that your wishes won’t be followed. An estate planning attorney will be able to understand your state’s laws, so that the right document could be created.
- Estate Planning is Essential Whether You Are Married or Not - April 25, 2018
- Income Tax Basis in Estate Planning – Part 2 - April 23, 2018
- The Downsizing Generation: How to Handle a Surplus of Stuff When a Loved One Ages - April 18, 2018