A Will, also known as a Last Will and Testament, is an estate planning document on which you express your wishes regarding how you want your property disposed at your death. On the will, you clearly express what asset goes to who, and in what proportion. Since you would no longer be alive by then, you must name an executor who would see to it that the instructions on your will are effectively executed.
Do you really need a Will Lawyer? The answer depends on your situation. It may not be difficult to create a basic will with some do it yourself materials. Although, this may just contain simple things like passing a home, small business or investment to loved ones. However, this sort of fast track and do it yourself Will may be subjected to probate, contest and consequently an invalid will.
You may want to Consider one or more of the following cases and see if you fit into these categories; you own and manage one or more businesses, you have minor children or you don’t have any children, you have a disabled family member, or you have one or more health issues, you are married, divorced or in a second marriage etc. These situations requires you make appropriate plans, and prepare a valid Will.
Planning now for the future with a Will lawyer would never be regretted. One wrong document or inclusion or signatory could mean or signal a whole different thing and may lead to loss and probate of your properties with the beneficiary or trustee not getting it.
Common mistakes in Will
Will are one of the most important financial and estate planning tools. It is however important to find out these common mistakes before death of the testator. To be valid, a will must be designed to take effect immediately upon death. A will is also designed to apply in real time. Some mistakes are however some severe that the Will may be rendered invalid or void. The ways to discover these are:
- When a testator attempts to partially revoke part of their own will.
- When a testator attempts to add clarifying information.
Some mistakes are mostly seen after the death of the testator.
- Erroneous exclusion. Words mistakenly left from the Will cannot be added.
- Mistaken belief leading to adding or omitting certain details from the will, may cause it to be invalid.
- Mis-description or incorrect words. The court would stay clear of adding words to effect clear intent of the deceased in the Will. The probate court usually omit the words or directives not appropriately written in the Will.
It is however important to plan with a Will lawyer or attorney to avoid these common mistakes.
Importance of will Brooklyn
The greatest importance of having a legal will is it bestows upon you the power to provide for your spouse, children, relatives or friends (as the case may be) even after you’ve gone. A will gives you full control of who gets what and in what proportion. You may decide to leave very little proportion of your assets to your spouse because he/she already has a lot to their name. You can leave your car with a relative or friend, while giving your company over to your child. If you have a child with special needs, you could create a special needs trust to provide for such needs. If you have a minor who is still schooling, you can create an education trust for such a one so there is no fear of dropping out due to insufficient funds. Also, you may have relatives who have neglected you in the past and thus you want them to benefit from nothing of yours. You can clearly state this in a legal will Brooklyn. This eliminates the squabbles and expenses of legal sittings which might emerge as a result of relatives fighting over your property.
How a Will is implemented
For a will to be implemented, it goes through probate in a probate Court in Brooklyn where the deceased lived and/or owned assets, and this brings publicity upon your will. Many people do not like this publicity, which is one reason why many create Trusts.
