A will is an important part of your estate plan. Your will determines how your assets and your properties will be distributed when you are no longer here. There are certainly many benefits of creating a will, but there are so many people who do not have one. If you want to make sure all of your wishes are fulfilled when you are gone, you should definitely start thinking about creating a will, if you do not already have one.
There may be some things you do not consider when you are creating an estate plan, but your will can address a number of those issues. Your assets will be protected and your wishes will be honored.
If you have specific wishes on who will get a certain asset or who will get a certain amount of money, you are definitely going to want a last will and testament. When you have a valid will, you may be able to prevent your family members from arguing and mistrusting one another.
When you are creating your will, you should be aware that there are some things you should avoiding including in the will, such as the following:
You do not have to include your funeral plans in your will because the document will not be able to determine what happens at your funeral. However, if you want your family to pay for the expenses out of the money in your estate, you can include that in your will. If there are certain wishes you have for your funeral, you can discuss that with the person you plan to name as the executor.
You do not have to include any information about your beneficiaries of life insurance or any other benefits because those benefits will automatically go to the listed person. If you need to make changes to your policies, it is important that you make those changes while you still have time.
We know it can be difficult to think about creating a will, but it is a very important step in your estate planning process. If you want to make things easier for your loved ones by creating a will, contact us today for more information.
One of the toughest decisions that people have to make in the estate planning process is how much information they should share with their children. There is not a one-size-fits-all method for this type of process.
What is best for your family depends on how you plan, when you plan, and all of your family’s circumstances. Many people are not comfortable talking about what they plan to do with their valuables and possessions. Many of them are worried their children may not want to work or may not want to work as hard if they know they will be getting a significant amount of money from their parents.
Another big worry is that discussing an estate plan could result in a family argument if one child will receive more than the other. Many families will just avoid the matter altogether so they can keep the peace in the family.
It can be really difficult to decide if you should discuss these plans with your family, but there are some very good reasons why you should at least consider having this discussion with your family.
If you think for a second that any of your children could be upset with your wishes, it may be better to discuss your plans with your children now. If there is an argument, at least you will be able to explain your decision to your children. You are still here and able to tell them why you did it.
If you die unexpectedly, your family will have many questions about your plans and what steps they should take. If they do not know where you typically keep your things, it can be extra stress added onto the grief they are experiencing. If you discuss everything now, your family will know what to expect after you pass away.
If you are concerned with any issues about your estate plan, you should not hesitate to consult with an attorney. Contact us today if you would like a consultation.
When anyone is named the guardian of a person who has become incapacitated, they have been given a big responsibility. When someone is named a guardian, they have to be meticulous about all matters concerning their ward, especially when it comes to their finances and their state of health.
If one of your family members has been named someone’s guardian and you feel he or she is not treating the ward fairly or if you think the guardian is not fulfilling their responsibilities, guardianship litigation may be the best way to handle this matter.
You can tell the court why you feel the appointed guardian should no longer be responsible for caring for your other family member. The court can decide whether or not the appointed guardian should be removed.
If the appointed guardian does any of the following or has any of the following, you can present your case to the court.
Here are some reasons why the court will have the appointed guardian removed:
- The guardian is using their powers to his/her advantage
- The guardian is not fulfilling any of the responsibilities he/she promised to fulfill
- The guardian has been convicted of a felony
- The guardian abuses drugs and/or alcohol
- The guardian is not following any of the orders given by the court
- The guardian is not using the finances on the ward, but himself/herself instead
If you know the appointed guardian is not being responsible and is not properly looking after your loved one, you can contact us today for additional information.
Many people do not know much about probate, wills, guardianship, etc. These are not usually the topics that are discussed while people are sitting around the dinner table. It is important that we all know something about these topics, even if it is just the basics.
There are many myths and misconceptions about probate. One of the common misconceptions is that it takes years for an estate to be probated. However; many estates do not take years to reach a resolution.
One of the main delays during a probate involves the state law. Creditors have to be given enough time to file a claim. How much time a creditor gets to file a claim is different in every state. After the creditors have been given a period of time to file a claim, the estate can be closed after the deceased person’s representative has paid the debts.
If everything goes the way it is supposed to go, many estates will be resolved in a year or within a year. There are some things that can slow the probate process and have it lasting for years. Here are some things that can cause a probate to last for multiple years:
- The size of the estate(If the estate is a big one, it may take longer than the standard time frame mandated by your state)
- Family arguments and disagreements
Generally, a probate will not go on for multiple years, but there are some cases where it does happen. If you want to know how you can avoid a probate or if you need advice on how to get through a probate, contact us today.