Putting together an effective Estate Plan requires some proactive effort, but the end result of thoughtful planning with an attorney will ensure that your Estate is distributed in the manner that you – and only you – want.
The Primary Advantage of having a Will
When someone dies without a Will, their State’s laws of Intestacy control what will happen to their assets. Sometimes, the laws of Intestacy are completely different than what the person who has died would have wanted. Nevertheless, absent a Will (or a Trust), these laws of Intestacy take effect, and cannot simply be ignored.
Accordingly, the primary advantage to having a Will is that it will ensure that the family, friends, institutions, etc. that you want to benefit from your Estate receive their inheritance as you intend. Alternatively, having a Will can effectively prevent certain family members from receiving an inheritance that they would be otherwise entitled under the laws of Intestacy.
Ultimately, having a Will allows you to control the manner in which your Estate is distributed, whereas not having a Will can result in no personal control in the manner in which your Estate is distributed whatsoever.
Other Estate Planning tools
While a detailed Will allows for a smooth Probate process, a Will is not the only legal document that factors into estate planning. Trusts, Powers of Attorney, Living Wills, and Health Care Proxies are also necessary pieces of any complete Estate Plan. All of these documents can work together not only in death, but during your life, so as to ensure that your health and wealth, as well as your family and loved one’s future, is protected as best as possible.
What Estate Plan is Right for You?
As everyone, and every family, is unique, so is each and every Estate Plan. Nevertheless, crafting an Estate Plan that is right for you and your family is not as daunting as it might seem. If you are interested in creating an Estate Plan for you and your family, contact Bashian P.C.
