Will isn’t just a name, it’s an important legal document which outlines the passing of assets, property and financials to friends and family following someone’s death. When someone passes on, it’s not a free for all on their estate. Rather there is an important process established by state and federal law on how assets and more are passed from one generation to the next. Estate planning, wills and trusts are set up so someone gets to decide before they die where their assets are going. Reaching the end of your life without a will or living trust means that a judge, whom you’ve mostly likely never met, decides where your assets and property will go following your death. Calling a will, trusts and estate planning attorney in West Palm Beach can make life a whole lot easier on you or the people you care about in the event of the death of a loved one.
Why Do I Need Estate Planning?
Some believe estate planning to be unnecessary and something for the super wealthy, but in reality it’s an important part of growing older for just about anyone. Even if you don’t have considerable assets, you want to be sure what you do have is going to the right place following your death. Personal possessions along with property and bank accounts can all be delegated to surviving friends and family.
What is a Will?
A will is a legal document established by an individual and legitimized by a probate lawyer which outlines the distribution of assets following someone’s death. A court oversees the process of ensuring a person’s wishes and all the conditions and stipulations of the will are met.
Can a Trust Help Me?
A living trust is similar to a will in that it’s used to bequeath assets to loved ones following death, but it’s different from a will in that only assets outlined in a trust can be transferred. A trust can be established while someone is alive so in the event they are incapacitated for any reason, their assets will still be protected. Call a trust, will and estate planning attorney in West Palm Beach today and learn more!