Will is an essential estate document
A will is an important estate planning document. More officially, it is referred to as a Last Will and Testament. A last will and testament is a legal document written by a testator, which contains the testator’s wishes and desires regarding how he wants his estate dealt with after he passes away.
On the will, the details of how you want your estate to be shared would be clearly stated. 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.
Preparing now for the future over your financial and medical affairs would save you and your loved ones a whole deal of stress and troubles. One wrong document or inclusion or signatory could mean a whole different thing and may jeopardize your estates at risk of loss and probate with the beneficiary or trustee not getting it.
No matter the financial or medical situation you are in today, contact a will attorney to help you plan for the future, yours and that of your family by documenting the appropriate 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.
You are definitely in of the categories mentioned above, any of these above mentioned cases requires that you have a valid Will.
Probate process of Will
When you pass away, your family is faced with the challenge of managing and sharing your assets among themselves. This is usually an emotional and trying time, with a lot of decisions to make. Leaving them without a Will–a valid one–will make things even more difficult for them. Probate in itself is the legal process of determining the validity of a will before its contents are carried out. Not all Wills are valid. For instance, a Will valid in one state may be invalid in another state, and this is why you need a Will attorney.
A will may be contested. Unfortunately, in certain situations, when a decedent will is read, tension and dispute may arise between beneficiaries of the estate. When one or more parties feel that the deceased was forced into signing the will, or that they are being cheated out of their inheritance, such party may issue out a petition of contest of will. Thus, increasing the probate process.
A will attorney would however be on hand to help settle any disputes that arises between the personal representative and the estate beneficiary or between the beneficiaries of the estate who feel they have been cheated.
Consult a Will Lawyer Staten Island
- You have questions about how to draft and prepare your will or you require other options to share, protect your estate, properties and also beneficiaries of such.
- You expect to leave a very large amount of assets that may be subjected to excessive estate tax.
- You have complex family situations, probably one than one marriages, and children from different spouses.
- Rather than just drafting an ordinary will, you want to make more complex plans. For instance, placing your house in a trust to your spouse until he or she dies and then passing it to your children from a different spouse or marriage.
- You own a business and you have questions as to the rights of surviving owners or your ownership shares.
- Requiring guardianship or conservatorship for a beneficiaries.
- You need advice and help to make other estate plan documents like power of attorney, living trust and advance medical directives.
Speak With a Lawyer
Nevertheless, whether or not you need to create a will depends on your wishes. You may desire to quietly give off all your property to an individual at your death without having to go through the publicity and stress of probate. Here, a will may not be needed. What you require may be only a pour-over will alongside a trust.
To plan and document the appropriate kind of Will that would be acceptable in Staten Island, you need a legal guide.
To be on a safer side, kindly contact a Will lawyer for guidance.