When it comes to writing your will, you don’t want anything to go wrong. For many people, writing a will isn’t the most pleasant thing in the world, because many people don’t want to think about their ultimate passing in the years to come. However, it’s one of the best things that you can leave behind for your loved ones so that they don’t have to go through an extensive process just to obtain what you have left behind. You will have peace of mind knowing that your possessions are in the right hands and you will be able to breathe easier while you’re still here on this earth. But what are some things that you should know about the will? Today we will answer these questions and help you understand why it is important to have an attorney on your side.
What exactly is the will? The will declares what happens to everything in your estate when you pass away. It can really hold anything – from inexpensive items that mean a lot to you or big and expensive things like a home or vehicles. You will have an executor who manages your estate and goes along with all of your wishes so that every item goes where it’s supposed to after your passing. Some things are covered by wills and other things aren’t.
What will happen if you don’t have a will and you pass away? If you die, your assets could go through probate, which is the legal process of transferring property to rightful heirs when there is no will in place. There will be an administrator assigned who helps this process along.
Who should be the executor of a will? In most cases, the executor is the spouse, child, or trusted friend or relative. You may even name an attorney who understands your case and wants your best interests. Your executor will oversee all of your affairs and will also deal with debts in your name if you have passed away without being able to pay.
How do you leave assets to your heirs? They will be indicated in your will, as you will find out. The letter of instruction guides others into understanding where certain assets get and who gets what. You can also include things like passwords, account numbers, and more.
Should the will ever be updated? Some people will never have to update it under the circumstances, but you may find that it helps to update yours every once in awhile to make sure that all changes are accounted for.
Can anyone contest a will? If a beneficiary believes that they were cheated or left out of the will altogether, they may challenge it. Maybe there are other aspects standing in the way like someone believes your will was made under coercion or fraud.
There are many reasons to seek an attorney when it comes time to start thinking about your will. Perhaps you have many questions because you don’t understand the process, you want to make more complex plans, you have a business, or you have fears that somebody will contest your will. Under any of these circumstances, you should talk to an attorney sooner rather than later. We want to talk to you about your will from start to finish so we can ensure that you include everything you want to and protect your rights. Let us help you every step of the way. Call us today for more information at 818-703-1777.