Chances are you have worked hard to accumulate your wealth. Before you think about living out your golden years, it is important that your assets and property are passed down to the appropriate family members or loved ones. Unfortunately, far too many successful people in Pasco County have yet to prepare a last will. It can be a little creepy and unnerving to think about your death. But it is also important to make sure your children and loved one’s have a bright future. Most people think creating a will is simply making a list of assets and where they will go after you pass away. But it is not quite that simple. The first step is to seek assistance from an experienced Wesley Chapel estate planning attorney.
What is a Will?
Few documents are more important than your last will and testament. It will ultimately manage your estate after you die. One common myth is that wills are only for the wealthy. Nothing could be further from the truth. Regardless of your income, it is important to make sure your assets and property are properly passed down to the right people. Failure to create a will could result in your important possession being seized by probate, causing tremendous difficulty and headaches for your family in the future. When it comes to effective estate planning, here are some important things to remember.
Create Separate Will From Your Spouse
Many couples are tempted to create a joint will. Keep in mind, there is very little chance you and your spouse will die at the same time. No matter how close a relationship you have with your spouse, it is likely you both have property that is not jointly held. It is also important to understand not all states recognize joint wills.
Hire an Experienced Estate Planning Attorney
Although it is not required to have an attorney to create will, an experienced and knowledgeable legal professional can properly advise on how to create your document and manage your estate. It is tempting for many people to try constructing their own will. But most are not aware of some of the common legal pitfalls that can later create havoc for your loved ones. Your estate planning attorney can also assist with creating and filing power of attorney documents. They can also help with updating and preparing other vital estate planning documents.
When to Create a Will
It can be easy to fall into the trap of procrastination. But there is never a bad time to start constructing your last will and testament. While nobody likes to think about their death, you are not going to live forever. If you are married with children, it is important to make sure their futures are secure long after you are gone.
The Wesley Chapel Estate Planning Attorneys at DHW Law Can Help
When preparing a will, it is important to have a legal professional that can help address all of your question and concerns. The Wesley Chapel estate planning attorneys at DHW Law utilize a personable and comprehensive approach to help make the process as smooth as possible. Husband and wife David and Gwen Walkowiak utilize their wealth of experience to help place each client in the best position to succeed. To learn more, contact their Wesley Chapel law office today and schedule a consultation to discuss your case.