Estate law governs everything related to the distribution of assets, including your property and money, after you die. If you have an estate that must be settled after your death, it’s important to make sure your assets are distributed in the most advantageous way possible. For this reason, it’s essential to work with an estate lawyer when creating your will or trust, especially if you have children from multiple marriages or you own multiple properties that you want to ensure go to the right people after your death.
What Is The Difference Between A Will And A Trust?
Both are legal documents that help you pass on your estate to loved ones in accordance with your wishes. However, there is one important difference between them: A will determines how your assets get distributed after you die, while a trust ensures those assets get transferred before you pass away.
Why Should I Choose An Attorney When Writing My Will?
A will is simply a legal document that controls what happens to your assets after you pass away. But without an estate lawyer, you may not be able to give them to your loved ones in the way you intend.
Where Should I Keep My Will?
The location of your will depends on your preferences, but most people keep them either in their homes or at work. There are benefits to keeping your will in both places: if you have children and want them to find it quickly after you die, you may opt to leave it with them.
Who Should Have Access To My Will?
A simple question, right? With so many family members and friends to think about, you might not know where to start when it comes to choosing who should have access to your will.
Many states have guidelines in place for determining who can open your estate after you pass away, but those aren’t always enough. Get peace of mind by choosing family members and trusted loved ones over professional executors. If you need help drafting your own will or getting through probate court in general, consider hiring an estate lawyer.
Can I Change Or Amend My Last Will And Testament?
It’s important to make sure your estate planning documents reflect what you want, but if it’s been some time since you created your will, then you may need to update it. Your circumstances can change over time; for example, if you have new children or a spouse dies. If one of these situations applies to you, then there is no reason why you shouldn’t amend your will. An experienced estate lawyer can help by providing valuable advice during such times.
Do I Need To Incorporate A Living Trust Into My Last Will And Testament?
If you have assets that your heirs would need to manage, such as property that needs to be rented or sold, it is probably best to incorporate them into your will. If you don’t, then chances are you’ll need a trust. A living trust can protect your assets and make sure they go where they should even after you pass away.
Are There Any Disadvantages Of Using A Living Trust?
If you’re using a living trust, there is one disadvantage: it won’t come into effect until your death. So if you need to put in place some critical estate planning documents before then—say, your will—you might want to consider having them drafted by another attorney. However, that should be your only concern about using a living trust for your estate planning needs.
What Happens If No One Has Access To The Original Document?
Most people may have access to their parents’ wills, but what happens if they’re misplaced or destroyed? This can happen without anyone even realizing it. For example, someone might throw out one of their parents’ papers and accidentally destroy something extremely important.
It doesn’t hurt to have another copy, even if you do have access to your parent or grandparents’ will. This way you know there is something in place should anything happen to that original document.
Is There Anything Else I Should Consider When Writing A Will?
A will is essential for distributing your assets after you die, but that doesn’t mean it should be written in haste. There are other decisions to make.
For example, if you’re married, should all of your assets pass to your spouse? If not, what kind of provisions do you want to include for kids or extended family members? Making these decisions now—before a crisis occurs—will help ensure things go as smoothly as possible when death strikes.