The year 2018 has been tumultuous on all fronts. Many feel that the future is increasingly filled with uncertainty. With Thanksgiving next week it's a perfect time to reflect on all of the things you're thankful for, and to ensure that those things are protected should anything sudden happen to your wellness. As the year draws to a close, it's important to reflect on the years events and consider creating a new will or updating an existing on. Some incorrectly assume that a will is something that doesn't need to be worried about until the twilight years of someone's life. That's very short term thinking, life is unpredictable, and ensuring yourself against tragedy is one simple way to find some peace of mind in the forthcoming winter months.
If you have possessions or property that you would like to protect, or pass down to someone specific a will is the best way to ensure your wishes are carried out. This is especially important if you've recently experienced big life events such as the birth of a child or a divorce.
Before you schedule your appointment for the will, keep in mind these things.
- You'll need to choose someone as the executor of your estate, this is someone generally a spouse or other close loved one that will be legally obligated to deal with the final financial obligations of the deceased. Entailing anything from the dispersal of property to settling debts. More than one executor can be cited.
- If you've experienced any big life events recently like the birth of a child or a divorce remember that a will can be updated through the use of a codicil but it's highly recommended that a new will is drafted altogether to make sure there's no legal confusion. In the past codicil's have been misplaced after their creation or challenged in court. Unfortunately at the point they're required the person who created it might not be available on this earth to clarify their intentions.
- A will can be as specific or vague as required for you to feel sure all of your desires are going to be carried out. If you want to lump all of your assets together and sign a single executor that's fine. When you have assets over a certain value where estate taxes are a factor, or if you need a trust established a complex will can be created by an experienced estate attorney.
The creation of a will either simple or complex can seem like an overwhelming task. Taking stock of your life often is, it requires facing the fact that we have a finite time on this planet. However difficult, avoiding these big questions can leave your loved ones in a difficult position should something unexpected happen.
The Simon Law Group has estate law experts happy to take the time to walk you through the process of creating a will. We understand how important estate planning is and are ready to answer any questions or concerns you may have. Call today.
If you are seeking representation for a will or for any other estate planning matter call today for a free consultation 800-709-1131 or fill out a contact form on our website for a no-cost consultation.We hope to hear from you today!