While it’s not something that people usually want to think about, the fact is that we’re all going to die at some point. Planning for your death while you’re alive will make things much easier for your family when the time comes. While it may seem overwhelming to plan for your passing, an experienced estate planning attorney can help you sort everything out in a relatively short amount of time.
Your Last Will and Testament
Your last will and testament is a legal document that details what you want to happen when you pass away. This includes things like who your property will go to, who will be responsible for distributing assets, and who will maintain the guardianship of your children. Depending on how many assets you own, you may need just a simple will or you may want to set up a trust of some sort.
When you are making your will, you will also name the executor of your estate. This is the person who will be responsible for handling your estate after you pass. This includes paying your debts and distributing your assets. Obviously, this should be someone that you trust. It’s important to note, however, that the executor will only have the power to handle your affairs after you pass and the courts give them the official capacity to do so.
To make the will legally binding, you’ll usually need at least two witnesses to sign. These witnesses cannot be beneficiaries that are listed on the will, as they would have a conflict of interest. Additionally, it’s usually wise to have the will notarized by a notary public.
If you have many different assets or beneficiaries, it’s important to make sure that your will is legally sound. It’s a really good idea to hire an estate planning attorney that can help you ensure that your final wishes are carried out appropriately. Laws can be complex when finances are involved and a good lawyer will be able to help you set up your trust or will in a way that complies with your state laws and also ensures that your family members are taken care of.
If you have any questions regarding how your state laws affect your final will and testament, be sure to visit an attorney, like an Estate Planning Lawyer in Melbourne, FL, to discuss your options. Although you can create a will on your own, it will be far less frustrating with the help of someone who knows how to navigate the legal field.
Thank you to the experts at Arcadier, Biggie & Wood, PLLC for their input into estate planning law.