As you arrange for estate planning, it's crucial to create a last will and testament. A will is the foundation of all final arrangements, and it can serve several purposes. It can also provide considerable peace of mind when it comes to protecting your assets. The following guide explains why it's best to create this document with an attorney.
Why Should You Draft a Will?
1. Take Care of Any Dependents
In a will, you can designate a guardian for your children. If anything happens to you while they're still minors, the guardian will step in and take care of them. You can also use a will to distribute assets among those who depend on you financially and those who might not otherwise be entitled to your property. For example, you can use the document to take care of stepchildren or a long-term partner who's not actually your legal spouse.
2. Simplify the Probate Process
Probate is the process of settling an estate. While it's possible to complete probate without a will, having one in place will streamline the proceedings considerably. As a result, your family won't have to endure a long court process. Avoiding probate can also mitigate disputes between loved ones who disagreed over assets. In addition, if you name an executor in the will, the court won't have to appoint a trustee, so your estate can avoid the associated fees.
3. Enact Your Last Wishes
A will allows someone to state what they want regarding everything from pet care to the distribution of family heirlooms. It can even outline preferences regarding burial or cremation. As a result, you'll enjoy peace of mind knowing that you created detailed instructions for your loved ones to follow. An attorney can work with you to ensure you create a will that covers all of your priorities.
To ensure your will is legally binding and comprehensive, turn to Ronald D. Zipp Attorney at Law. Based in New Braunfels, TX, this estate planning lawyer has helped clients throughout the area for over 40 years. In that time, he's amassed a wealth of knowledge, and he will be happy to help with your estate planning needs. Visit his website to learn more about how he can help, or call (830) 629-5600 to request a consultation.
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