FAQ About Wills And Estate Planning
People have numerous questions about estate law and drafting a last will and testament, but these questions often go unspoken, and therefore, unanswered. Some clients feel that giving voice to their concern is a little like tempting fate; others simply don’t realize the complexities of the process.
Whatever group you find yourself in; we don’t want to see any more questions go unanswered, especially regarding something as important as end-of-life and estate planning. That’s why our firm has dedicated this article to tackling those frequently asked-if often unspoken-queries.
What do I need to know about wills and estate planning?
Question #1: Do I really need a will? In a word: yes. To be clear, the probate process will move forward, no matter what. A valid will allows you to direct that process. These directives are important; especially if you want something specific to happen to your property and other assets after you die.
You name the beneficiaries, their share of bequeathed property, and when/how they get that property. In some cases, you can even add some final directives pertaining to your last wishes. A will protects your directives and honors your wishes.
Question #2: What happens to the will after I die? The executor or representative that you’ve selected authenticates your will in court and confirms your death. This is called “probate.” Afterword, any outstanding debts, taxes, or final expenses are paid before the executor divides the remaining property among the beneficiaries as directed.
Question #3: I’m married. Do my spouse and I need separate wills? Yes. This may seem redundant, but there is logic behind the answer. Many spouses leave their property and assets to each other. There’s nothing wrong with this, but eventually other beneficiaries will need to be named. When one spouse dies, the other usually updates their will to name new beneficiaries.
Question #4: Can my will include a trust? Yes, it’s called a Testamentary Trust. Basically, it protects your property until a predetermined date, like a legal time capsule. Ask your estate lawyer if it is better to set-up a trust independent of your will.
Where can I find out more about Wills and Estate Planning?
Reputable estate lawyers like, Stockard, Johnston, Brown, Netardus & Doyle, P.C. can answer these questions and more. If you have questions that are not listed here, write them down and bring them to your appointment. Our firm is well-versed in estate law and more than prepared to clarify matters.
Whatever group you find yourself in; we don’t want to see any more questions go unanswered, especially regarding something as important as end-of-life and estate planning. That’s why our firm has dedicated this article to tackling those frequently asked-if often unspoken-queries.
What do I need to know about wills and estate planning?
Question #1: Do I really need a will? In a word: yes. To be clear, the probate process will move forward, no matter what. A valid will allows you to direct that process. These directives are important; especially if you want something specific to happen to your property and other assets after you die.
You name the beneficiaries, their share of bequeathed property, and when/how they get that property. In some cases, you can even add some final directives pertaining to your last wishes. A will protects your directives and honors your wishes.
Question #2: What happens to the will after I die? The executor or representative that you’ve selected authenticates your will in court and confirms your death. This is called “probate.” Afterword, any outstanding debts, taxes, or final expenses are paid before the executor divides the remaining property among the beneficiaries as directed.
Question #3: I’m married. Do my spouse and I need separate wills? Yes. This may seem redundant, but there is logic behind the answer. Many spouses leave their property and assets to each other. There’s nothing wrong with this, but eventually other beneficiaries will need to be named. When one spouse dies, the other usually updates their will to name new beneficiaries.
Question #4: Can my will include a trust? Yes, it’s called a Testamentary Trust. Basically, it protects your property until a predetermined date, like a legal time capsule. Ask your estate lawyer if it is better to set-up a trust independent of your will.
Where can I find out more about Wills and Estate Planning?
Reputable estate lawyers like, Stockard, Johnston, Brown, Netardus & Doyle, P.C. can answer these questions and more. If you have questions that are not listed here, write them down and bring them to your appointment. Our firm is well-versed in estate law and more than prepared to clarify matters.