What to Know About Estate Planning
Estate planning is an important part of life that you should not take lightly. If you don’t have a plan in place for what will happen to your assets when they are passed on, then the state might decide how they are distributed. This can lead to family members fighting over who gets what and creates unnecessary stress during difficult times. The following five tips from our estate planning attorney will help ensure that you have peace of mind knowing your wishes were followed, so your family doesn’t have to fight about it.
Make a Will
A will is one of the most important documents that you can have. This document allows you to choose who gets your assets, how they are distributed, and what happens if there’s no clear-cut heir. The state won’t decide for your family, so it’s worth taking care of early on in life. Even young people should have a will.
Creating this document is the first step to peace of mind. You can find an experienced estate planning attorney, like one from The Jund Law Firm PLLC, online who can help you through each step and answer your questions about what it means for your family’s future. Hiring an attorney ensures that everything in the will is legally binding and that your wishes are properly communicated to the legal system.
Hire Someone to Make Your Life Easier
It can be overwhelming trying to manage your estate and make sure everything goes according to plan. Many documents need signed, filed away, updated or changed when you have children depending on what is in the will. One way to simplify this process is by hiring someone who specializes in making this process easier for you, like an estate planning attorney.
In addition to making the legal side of things simpler, hiring a specialist can help reduce family fighting about your assets when you are gone because they will ensure that everything is distributed according to your wishes-not somebody else’s agenda. Having peace of mind knowing that your loved ones won’t be fighting about your belongings when you’re gone is priceless.
Make a Trust
A trust is different from a will because it’s designed to distribute assets after you have passed away. It can also help manage your estate while you are alive by allowing someone else to easily access the funds and make payments on your behalf when necessary, which could be helpful if, for example, somebody has dementia or Alzheimer’s disease.
Trust is one of the most popular estate planning tools because it can be customized to fit your needs. It’s a great way to manage assets and keep them safe from creditors or lawsuits while still making sure they are distributed according to your wishes under the right circumstances. If you want more control over how everything plays out after you have passed, trust is the way to go.
Originally published at https://sylvesterknox.net.