There is a myth that estate planning is just for the ultra-wealthy. No matter how much property you own or what other various assets you may have – it is always a good idea to have an estate plan in place.
When you pass away, your loved ones will be left to deal with the aftermath of your passing. This can be an emotionally trying time for them, and the last thing you want is to add to their burden by not having your affairs in order. Creating your estate plan can help to ensure that your final wishes are carried out and that your loved ones are taken care of financially. It can also help to avoid any family disagreements about who gets what.
At Waystone Law, our team can help you develop a comprehensive plan that works for your unique situation.
The first step in estate planning is to inventory your assets. This includes everything from your home and other real estate to your savings, investment accounts, and any life insurance policies you have. You will then need to decide how you want your assets to be distributed after you pass away. This can be done through a will or a trust.
A will is a legal document that details how you want your assets to be distributed after you die. You will need to designate a personal representative who will be responsible for carrying out your final wishes.
A trust is a bit more complex than a will, but it offers additional benefits. In your trust, you can designate when and how your assets will be distributed. This can be helpful if you have young children or want to provide for someone who is not capable of handling their finances.
Once you have decided how you want your assets to be distributed, you will need to put your plans in writing. This is where we come in. At Waystone Law, we are here to make this process as easy and fast as possible.
While you may wonder why you cannot simply draw up your own will or trust, there are several reasons to have an experienced estate planning lawyer. First, we can help to ensure that your documents are properly prepared and executed. We can also offer advice on how to best structure your estate to minimize taxes and maximize benefits for your loved ones. If you have a complex estate, we can help to ensure that all of your assets are properly accounted for. Additionally, there are several complex estates and tax laws that must be taken into consideration. It is always wise to hire a professional estate planning attorney so you can rest assured everything is done correctly.
At Waystone Law, we understand that every family is different. We will take the time to get to know you and your unique situation to create an estate plan that works for you. If you are ready to start your estate planning, contact us today to schedule a free consultation. We look forward to helping you protect your loved ones, assets, and legacy.