What to Put in Your Will - Estate Planning Tips

Estate planning can be uncomfortable, but drafting a comprehensive will can help you preserve your legacy for future generations and ensure your estate is handled appropriately if you become incapacitated or pass away.

Today, we're exploring some of the things you should consider incorporating into your living will and last will and testament. To schedule a consultation with our team, contact us online or via phone at (719) 212-4227.

Decide What Property You Want to Include in Your Will

Your first order of business should be deciding what property you want to include in your will (and, of course, stipulating who should inherit said property if you become incapacitated or pass away).

As you consider how to distribute property, you should also look into developing a trust. By putting certain property in a trust, you can enable your friends, family, and loved ones to circumvent the probate process, saving them a considerable amount of time, stress, and money.

Work with financial professionals to assess the value of all your assets. That will help you ensure your property gets equitably distributed. Then, work with your estate planning attorney to draft a will that concisely specifies how you want to distribute said property.

Appoint an Executor

Your executor will work with the probate court to ensure that your will gets carried out to the letter.

If you fail to appoint an executor in your will, the court will appoint one for you. Choose someone you trust - preferably, who's on good terms with the other individuals that will receive your property - and appoint them as your executor. It's also a good idea to notify this individual of their appointment and have your lawyer cover what an executor does for them, so they feel confident helping the court handle probate.

If You Have Children, Appoint a Guardian

You can use your will to establish a guardian for your children. This alone makes keeping a constantly updated will crucial for parents. Being able to dictate who you would like to look after your children in the event you and their other parent can no longer care for them should give you considerable peace of mind.

We'll help you draft a comprehensive will that suits your needs. To schedule a consultation with our team, contact us online or via phone at (719) 212-4227.

Related Posts
  • Can I Create a Trust for My Pet? Read More