BLOG Probate Sounds Scary & Expensive. What is it and do I need it?

willHere are a few of the reasons why everyone should have a Will:

  • You can direct how you want your property divided after your death.
  • You may name the person you want to handle your estate.
  • You can decrease the expenses of administering your estate.
  • You can save taxes, especially if you have a relatively large estate.
  • You may establish a trust for the support and education of your minor children without the necessity of court proceedings.
  • You may appoint a guardian for your minor children.

Who may make a will?
•  Individuals must be 18 years of age or older to make a Will. They must also be of sound mind and free of any improper or undue influence by another person when they make the Will.

Are special formalities required to make a valid will?
•  Yes. A Last Will and Testament is a special type of legal document and it must be prepared and executed in a particular way with special formalities as required by state law.

What happens if I don’t make a will?
With the exception of certain life insurance and property held in joint ownership, your property is distributed under a plan provided by law. This may not be in accordance with your wishes. Without a Will, you lose the opportunity to select a guardian for your minor children and an executor for your estate. Court- appointed administrators and guardians may not be the family member or friend that you would have chosen to handle your affairs. Dying without a Will can be costly and may complicate and delay the transfer of your property to your heirs. For example, your estate may have to pay bond premiums if there is no Will stating that you don’t require executors and guardians to post a bond. If a Will is made, these problems and the additional expenses can be avoided.

Probate and Estate Administration
When a loved one dies, you need an experienced probate and estate administration attorney to guide you through the process of dividing and distributing the decedent’s property and assets. We are dedicated to protecting the final wishes of your loved one.