Did you know that roughly 50 percent of people in the United States have not done enough estate planning to even have a will? These people all know that they'll need one eventually, but they simply haven't drafted and filed one.
If you're thinking of putting some rather strange requests in your will, it is worth noting that a judge may be able to alter them if your heirs mount a legal challenge.
If you're thinking of simply leaving your possessions to your children, one thing to consider is the way current trends are going around the time you'll pass those items on. They could have a huge impact on whether or not the kids actually want the stuff you've accumulated.
You're still young, and you don't anticipate using a will for decades. You're not even married yet, and you're still in college. Do you actually need a will?
You have an idea of what you want your funeral to be like. Maybe it's just a general overall structure, or maybe you have the specifics planned out right down to who should speak and what time of the day the funeral should take place.
A pour-over will is something you may want to use if you're going to use a living trust. It helps to move your assets when you pass away so that your wishes are followed.
Being cut out of a will can happen for a variety of reasons, and every situation is different. A parent may be unhappy with a child's life choices or may simply have fallen out of touch with that child. As varied as family life is from one family to the next, so are the reasons for disinheriting a child. However, there are three big reasons that some experts have noted:
As you create your will, you have a lot to think about. You need to consider all of your children, their children, your spouse, and exactly what you want to have done with major assets like the family home. As you do all of this, should you spend some time considering your dog? Does he need to be included in the will?
Your estate plan is something that you need to make sure is fully prepared when you pass away. This doesn't mean that you can wait until you are at the end of the road to get things together. Instead, today is the best day to get your estate plan moving forward. We can help you learn about the options that you have for getting everything together.
Everyone needs to have a will drawn up, regardless of the size of their estate. However, every day Massachusetts residents die without wills, or intestate, which is the legal term when this occurs.