Creating A Will
Estate Planning Services – Creating A Will
What Is A Will?
The simplest definition is this: a will is a legal document that allows you control over the distribution of your assets and the well being of dependents after your death. You, the individual creating a will, is called the testator. You work with an estate planning attorney to determine what happens to your property, the care of minor children, pets, who is responsible for carrying out the instructions within the will, and more.
Creating a will is an important step in ensuring that your assets are distributed according to your wishes after your passing. While you do not have to have an estate planning attorney to create a will, it is crucial to consult with a legal professional to ensure that your will complies with the specific laws and requirements in your jurisdiction. Having a valid will is the most important part of having a will at all.
There are many different types of wills including but not limited to:
- A simple will – A basic will appropriate for individuals with uncomplicated estates.
- Testamentary Trust Will – This will establishes one or more trusts that come into effect upon your death.
- Joint Will – This is a will created by two individuals, typically spouses, and is a single document that dictates how their assets are to be distributed after both of them have passed away. These offer simplicity, but can be inflexible after the death of one party.
- Living Will – Outlines an individuals preferences for medical treatment in the event you are unable to communicate your wishes.
The type of will that best suits your needs may vary and estate planning can be a complex area of the law. A qualified attorney can provide guidance tailored to your specific circumstances. Contact Carment for your estate planning needs today.
Tips for Creating a Will
- Understand the purpose of your will so your attorney can guide you in proper will choice.
- Gather information ahead of time. Providing your attorney with a list of assets (properties, bank accounts, investments, personal belongings, etc.) will ensure a smooth process.
- Choose an executor – who do you want to manage and distribute your assets? Be sure to discuss your decision beforehand and fill them in on the will’s details once completed.
- Decide on Beneficiaries – clearly identify who will inherit your assets and consider alternatives in case your promary choices are unable to inherit.
- Decide on guardianship for minor children – discussing this in advance with your selected guardian is highly recommended.
- Have the will drafted by a professional to avoid potential legal issues.
- Store the will in a secure location and inform you rexecutor and close family members about its whereabouts.
- Review often – regularly review and update your will, especially after life events like marriage, divorce, or birth of children.
Contact Liriano Law Firm with any questions you may have. We are ready to fight for you.
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