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Wills, Trusts, & Estates
At LawyerNetwork.org we believe in giving individuals and families every opportunity to protect their wealth and assets. Our experienced attorneys will sit down with you and help to plan what will happen should there be a death in your family. This planning helps to protect your family and avoid conflicts.
Wills and Trusts are legal documents that help individuals to prepare for anything that the future may hold for them. Many people falsely believe that wills and trusts only service the requirements of the wealthy or affluent. However, the truth of the matter is that wills and trusts are for anyone who owns assets of any kind. Whether a person owns a home or personal property such as furniture, jewelry, or cash, a will or a trust will guarantee that your personal belongings are bequeathed in the manner you choose without creating conflict among your loved ones.
Trusts are a property management arrangement in which one person manages the assets on behalf of the beneficiary. Wills, on the other hand, are a legally binding testament that directs how to distribute one’s possessions after the creator of the will has died. If a will does exist, it must go through a probate process in order to verify that the document is true and accurate. Following the verification of the will, the executor of the will becomes responsible for the estate and fulfilling the deceased individual’s last requests.
The probate process involves the following steps:
- Provide evidence that the will is valid.
- Create a list of all assets owned by the deceased.
- Notify the individuals mentioned in the will.
- Notify current creditors.
- Have all assets appraised.
- Pay off all debts and taxes.
- Distribute all remaining assets as stated in the will.
If the deceased individual failed to create a will or trust, then the laws of the intestacy for the state will apply. The state will then determine the systematic distribution of the assets in question. This is why having wills and trusts created before it is too late is prudent. Protect your wealth, and ensure that you or a loved one's wishes will be respected and followed in the future.