Many people can become overwhelmed by the estate planning process due to how complex it seems.
However, most estate plans are not complex at all.
Indeed, for many people estate planning is a relatively straightforward process that includes a simple will.
To that end, a simple will is often a quick and easy way to ensure that you dictate what happens to your assets in the event of your death.
Who is a simple will good for?
Simple wills typically work well for individuals who are younger; who do not have extensive assets; and who have no desire to bequeath their assets to many people or organizations after their passing.
For instance, a couple in their 30s who do not hold many assets other than a home; bank accounts; and personal property may prefer to have a simple will as a simple will can ensure that their assets not only go to their young children, but that a guardian is named for their children in the event both parents die.
In this, and many other cases, if you are under the age of 50 and do not have many assets to speak of, a simple will can probably do everything you need it to do as part of a simple estate plan.
When should I not have a simple will?
There is no “one size fits all” estate plan.
People who have more assets, often need a more complex estate plan.
To that end, Bashian P.C. can help you determine what type of estate plan is best for you – be it simple a simple estate plan, or complex.
If you have estate planning questions, we are here to help.