Three More Tips To Plan Your Will

If you are one of those people who are avoiding it, you really need to write your will. It is really important that you plan ahead for your family! Be as specific as possible to avoid any confrontations down the line.

If you are struggling, here are some more tips to help you plan your will.

Remember that you can give people money without worrying about taxes. Most people don’t want to give their family members money because they worry about the income taxes. However, for most people, they won’t have to pay any taxes on money that they inherit. If you are concerned about it, seek legal advice.

Have all of your papers in a safe place. Even though your retirement accounts, life insurance, and other important papers don’t need to be in your will, they should be close by and easily available. Make sure that they all have a beneficiary so that your family can use them.

Don’t forget about a living will. Though you may not need it at your age, it doesn’t hurt to have a living will. This gives your family members instructions in case you are seriously injured. If you don’t want any drastic measures taken, make sure that your living will is up-to-date.

When planning your will, make sure that all of your other paperwork is in order (and easily found). You may also want to write a living will if you have specific instructions that you want taken in case of an injury. Don’t avoid giving people money just because of taxes. If you are really concerned, seek legal advice to ensure that your family members will be taken care of properly.

Contact us for all of your legal needs.

What Happens To Your Children If You Don’t Have a Will?

As a parent, you would do anything for your child. Does that include after you are gone? You will still want your children to be well taken care of, even if it can’t be you. However, what happens to your children if you don’t have a will? The fate of your children rests in the hands of the state – which is not always a good thing.

Most of the time, children are placed with their other parent. Unless incapacitated or unfit, the children will usually go to the other parent first. This can be a problem if you have several children by different parents because your children will be separated, even if they are used to being together.

If the other parent is unfit or can’t be found, another guardian will be appointed. If you are re-married (to someone else), your spouse may be able to keep your children if he or she is willing. Family members can try for guardianship, though there are cases when a judge will appoint someone else, especially if your family members are elderly.

Judges do want to do what is best for your children. There are even some states that allow children to have a say when it comes to who they want to live with. They try to find people who have a relationship with your children though it is not always possible.

There are times when your family may petition the court to name themselves as guardians of your children. This can become a long drawn-out court battle, though the court may rule in their favor. Instead of letting the courts decide, you should make sure that your children are well taken care of by writing a will!

Contact us for all of your legal needs.