Are you ready to take the next step towards estate planning? Too often, people make the mistake of thinking only the rich, those with children, or the elderly need a last will and testament. Having a legal will is a relatively simple and inexpensive process that every adult can benefit from.
Understanding Legal Wills
In the event of your death, a will is a written document that provides instructions on how your property should be distributed. Your will can be amended or rewritten at any time. Most often, wills are a stand-alone valid document. However, there are instances when wills are part of a living trust. These trusts provide an account of how you want your assets distributed. If you decide on Kelaher Connell & Connor to work with you on a stand-alone will, the following information is necessary to know:
- Wills must go through probate
- Probate records are part of public records
- Wills are inexpensive and relatively simple to create
- Your will requires very little management after being modified and signed
Probate can be a simple process provided there are no outstanding debts to consider and the estate is not complicated. When someone dies, either with a will or without, the estate must pass through a probate proceeding before distribution can be made to the heirs. The functions of probate:
- Filing and validating a will
- To determine how the remaining assets should be distributed based on the will
- Provide a forum for those with valid claims needing to contest the will
- To handle outstanding taxes and debts before distribution of the estate is made to heirs
WE CAN HELP WITH
If you own property at the time of your death, your Will provides instructions on how it should be distributed. If you don’t have a Will, the state distributes your property. Let us offer you peace of mind by calling our law firm to prepare your Will today.
Though difficult, a will can be challenged. You can challenge a will if facts indicate that the will was not properly made. We can help determine if challenging a will is in your best interest.
Our estate planning attorneys help you make good decisions concerning your estate after death or in case of incapacity. We work to understand your goals regarding your estate and other property and suggests ways to achieve your wishes.
Power of Attorney
If you’re ever unable to take care of your own business or make your own decisions, a power of attorney (POA) protects you. It authorizes another person to legally act in your place.
Declaration of Natural Death
A “living will” is a document in which you describe the kind of healthcare you want to receive if you are incapacitated and cannot speak for yourself, due to illness, injury or advanced age.
There are two important matters to address when a person dies. Payment of the decedent’s outstanding debts and the transfer of his property to those entitled to it. Probate is the court proceeding for settling someone’s final affairs. At Kelaher, Connell and Connor, we have years of experience in probate court. Call for help with your probate case.