The best way to ensure that your wishes will be honored after your passing is to create a throughout estate plan with an experienced attorney. A key component of any estate plan is a will. A will is legal document which allows you to distribute your property and assets after your death. Without a will in place, your family may have to deal with the complicated legal process of probate in order to access your accounts and other vital possessions. To ensure that your family and friends are taken care of after your passing, it is important to create a will.
- Allocate your property and assets: A will allows you to establish which members of your family or community will have access to your possessions including property and accounts. If you do not have a legal will in place, the courts may decide who these items go to during the probate process. If you have valuable assets like a family home, or inheritance that you want to go to your spouse or children, it is imperative to create a will.
- Appoint a guardian for minor children: If you have children under the age of eighteen, a will gives you the opportunity to appointment a guardian to care for them in your absence. Since you know who is most qualified to care for your kids, it is vital to include this as a provision in your will.
- Protect your business from dissolution: Sadly, many businesses that are privately or family-owned fail after the owner has passed, due to a lack of estate planning. If you want your business to succeed after you are gone, you should appoint a co-owner or family member in your will to act in your place and run the business.
Would you like more information about estate planning and will creation? Reach out to the Law Office of Meghan Amelung to schedule your free consultation today.