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.
One of the biggest misconceptions about estate planning is that unless you have children or other heirs, you don't need to worry about your estate. But even if your estate is relatively modest, consisting only of personal items and a couple bank accounts, you still want that to go to the person or organization of your choice rather than the state, don't you?
From the mistaken belief that estate planning is reserved for the very wealthy to general unease over the prospect of addressing the topic of death, there are multiple reasons why people choose to forgo the advantages of creating a comprehensive estate plan or even executing a simple will.
Somewhat shockingly, a recent survey found that as many as 64 percent of adults here in the U.S. have not taken the altogether vital step of executing a will. This effectively means that the laws of the state in which they reside will decide how their hard-earned assets will be divided and, by extension, that the special needs of certain loved ones may not be adequately covered.
Once a person has discussed, read through and appended their signature to their last estate planning document, they will likely shake hands with their attorney and depart the office with a rather thick file in hand. Their satisfaction with these efforts may prove to be short-lived, however, as they will be confronted with an important issue upon arriving home: where exactly this file should be located.
A last will is much more than simply a legal document that directs affected parties about what to do with your property when you pass away. It is also a declaration of your legacy and speaks volumes about your values and priorities to your heirs and beneficiaries. When setting out to write your last will, one of the most important steps in the process is choosing a qualified, competent executor.