Wills are the most basic and fundamental of estate planning documents. Everyone should have a last will and testament to specify what happens to property and to provide for the care of pets and minor children.
When you create a will, you need to include all the clauses and provisions necessary to provide the control and protectio you need.
You should also explore other estate planning tools since a will may not always be the best option for transferring assets or caring for your heirs when you are gone. An estate planning lawyer can provide invaluable assistance with the creation of a last will and testament, so contact Parman & Easterday as soon as you can for assistance.
Tips for Creating Effective Wills to Protect Your Interests
When you take the time and spend the money to create a last will and testament, you want to be sure to maximize the advantages a will can provide and include all of the clauses needed to protect yourself and your loved ones after your death. Some clauses important to get the most out of your last will and testament follow:
- Naming an executor or personal representative to probate your will and the technicalities associated with transferring your assets.
- Listing how your property and assets are to be divided and who is to receive each or a share of assets. Include all things with monetary or sentimental value to eliminate family fights after your death.
- Specifying who should inherit your estate if your primary heirs do not survive.
- Specifying who is to be the guardian of your minor children if you and the other parent both pass away and the children need someone to raise them. Also detail who will manage the assets you leave behind to provide for the care of your children.
- Including a no contest clause to avoid having family members contest the will and fight over your property. This reduces the chance of costly probate litigation diminishing the value of an inheritance and causing stress to family members in a time of grief.
- Specifying your wishes regarding your funeral so family members are not forced to guess about how you want to be remembered or whether you wish to be cremated or buried.
You want to ensure your will is enforced by the probate court and your executor is able to probate your will so assets can transfer to heirs in a timely manner. Do not try to create a will yourself, even with software or online tools that claim to help you, as there is no substitute for getting comprehensive legal advice from estate planning professionals.
Getting Help from a Wills and Trusts Lawyer
Parman & Easterday provides legal representation to clients creating wills, trusts, and other components of a comprehensive estate plan. Our legal team has the knowledge and background in estate law necessary to assist you in developing a comprehensive and detailed plan that will provide maximum protection for you, your assets, and your loved ones.
To get help learning the rules for creating a will and other estate planning tools, join us for a free seminar. You can call us at (405) 294-6860 or (913) 385-9400, or contact us online, to speak with a wills and trusts lawyer who will offer you personalized one-on-one advice and guidance specific to your needs.