When you die without a Will, the state will distribute your property through a process known as intestacy. This process involves allocating your assets to your closest relatives, usually your spouse and children. However, in most cases, intestacy doesn’t reflect the deceased’s wishes.
For example, if you didn’t want a particular individual to inherit your estate but didn’t have a Will, they might end up inheriting your property through intestacy. In addition, this process follows state laws, not your wishes, because you didn’t write them down before your death.
That’s the whole point of having a Will. This legal document ensures that your wishes are respected and protected even after death. It also ensures that your loved ones are cared for when you are no longer around.
A Will has incredible power if drafted correctly. Here are some of the things a properly drafted Will can do;
A Will can help you determine where you want your property to go when you die. This gives you more freedom to decide and dictate the property distribution process even when you are no longer alive rather than having the state make such decisions for you.
This document also allows you to protect the property from people who should not receive it. This could be either because you do not have good relations with the individual anymore or simply because they do not need the property, and someone else could use it.
Another great benefit of having a Will is that it allows you to plan for your loved one’s future when they are not yet old or mature enough to handle their own finances. For example, if you have a child, you want to ensure they are protected when you die, even though they cannot manage your assets until many years later.
The same applies if your children will need a guardian when you die. This mostly happens when they cannot care for themselves due to certain factors such as age or disability. In that case, a Will allows you to appoint a guardian to take care of your loved ones when you are no longer present to do so.
Most importantly, a Will allows you to choose the individual or entity acting as your executor. An executor is responsible for fulfilling the testator’s wishes (the individual writing the Will). As mentioned earlier, if you do not have a Will and an executor, the state will appoint someone to make these important decisions on your behalf. And, in most cases, these people will not have anything to do with you or even have your best interests in mind when executing your estate.
Yes, you can, but it is never advisable. Estate planning laws in the Carolinas are complex. The last thing you want is to make mistakes you will never get a chance to correct because you are dead. An experienced estate planning attorney can help you avoid these mistakes, but that’s not all they do.
Let’s briefly discuss how an estate planning attorney can help if you want to write a Will.
Most legal documents contain a lot of legal jargon. When writing a document as important as a Will, you want to ensure that you understand everything it entails. Remember that some of these documents are often subject to further interpretation. When you are gone, the last thing you want is to leave behind a document that’s open to interpretation. An experienced attorney can help break down these complex legal terms, ensuring that you sign something you’re comfortable with.
Life happens, and circumstances change. Events such as marriage, divorce, or the birth of a child often come with the need to update a Will. When that time comes, you need an attorney to help streamline the process, ensuring that the new Will reflects your desires. In addition, the attorney ensures that the right clauses and verbiage are used to express your current desires.
Most people do not realize that writing a Will isn’t the hardest part of estate planning. In fact, planning who gets what is usually one of the most challenging parts. Some testators even forget to include eligible beneficiaries in their Will. Others fail to include certain properties in this important document. Such honest but costly mistakes could lead to legal disputes that could have been avoided with the help of an estate planning attorney.
Legal contests are impossible to avoid. And when you are not around to dictate things, you want to ensure that the document you left behind will clear the air and not create further confusion. That is where an attorney comes in to ensure that the Will is well-written and ready for the different legal contests that might arise when you are gone.
At the Estate Planning of the Carolinas, we understand that each case is different. For this reason, we offer a unique, person-centered approach to every estate plan. You can count on our experienced estate planning lawyers to help you create a Will that expresses your desires and prepares for different legal battles that could arise after your death.
Our estate planning firm offers virtual services, making it easier to plan your loved one’s future at home, during your lunch break at work, or anywhere else. In addition, because we believe in transparency in everything we do, we offer a flat-fee pricing model, ensuring that you know what you are signing up for.
Lastly, we are available 24/7 to help you plan your Will because we know tomorrow is not promised. The sooner you get started with estate planning, the better it is for you and your loved ones. So contact us today for a free consultation with an experienced estate planning lawyer in The Carolinas.
