While your own death is a morbid topic to contemplate, it is an inevitable part of life. Additionally, you never know when or how the unexpected might happen and what effect this may have upon the life of surviving loved ones and family. However, the often unpredictable yet inescapable eventuality doesn’t have to instill feelings of helplessness and uncertainty. Instead, you can prepare for this eventuality through proper estate planning with an experienced professional.
An estate plan helps ensure that after your death, there will be an organized plan for your estate and how it will be distributed to your loved ones. Wills can help you create a testamentary plan that will ensure your family will receive what you wish them to from your estate. It also ensures that others who may make claims to have a right to assets in your estate aren’t able to simply take what wasn’t intended for them.
The best way to have an effective and quality estate plan composed to ensure the proper distribution of your estate is to contact a professional trust and estates lawyer in the Chesapeake area.
In estate planning, a licensed professional attorney will assist you in drafting a will and/or trusts that will determine how the assets of your estate will be distributed following your death. The assets that make up your estate can include:
An experienced attorney can help draft a last will and testament, the document that designates to whom or what the assets of your estate will be distributed following your death. It facilitates your intended wishes for the distribution of your estate through the probate process and allows you to identify who inherits what down to every little asset of your estate, even sentimental items of no monetary value. Ensuring that a last will and testament exists to direct your estate administration will also help make your passing easier on your family, posing fewer complications for them to worry about following your death during probate.
A will can help avoid messy disputes amongst your family over who is entitled to what. Dying without a will, also termed dying intestate, leaves one’s estate at the mercy of probate courts to be divided according to generalized rules known as intestate succession. This has been known to cause rifts in families as they fight over who gets which assets through these intestate rules of inheritance. Don’t leave your family vulnerable to this chaotic situation, instead give them peace of mind and remove the potential for fighting amongst your family and friends.
There are also many other important estate planning tools, such as:
To ensure your estate is properly planned for, contact the attorneys at Mahoney & Richmond, PLLC today. We have the experience and know-how to make sure your estate is managed according to your wishes and can help you draft a will and trust to help your family avoid the controversy and confusion of dealing with intestate estate distribution. We’re on your side, so please don’t wait to contact us today.