Have you acquired a number of assets so far in your life and are now preparing to write up your estate plan? Are you familiar with the different options you have and the requirements necessary for your plan to complete and valid? If you answered no, perhaps speaking with a knowledgeable estate planning attorney is what you need in order to get your estate plan completed, compiled with all the necessary components it needs.
You see, many choose to have a will written up to designate someone as an executor, also recognized as the person who manages your assets when you no longer are here. Obviously you want to choose someone who is close to you and you can trust, but your will consists of much more than that. In it you need to identify things such as:
- Who your tangible personal property is going to go to.
- Who will take over your property, or various properties if applicable?
- Assign a legal guardian for children who are minors or have disabilities.
- Have a trust established for those you want to leave assets for.
- State how you want your property to be sold or given away if you elect to do so.
- Provide instructions on how you want your debts and other taxes paid.
- Use this as an opportunity to exclude someone from receiving any of your assets.
Each of our lives differ and whether you want your estate divided equally, or in another manner, it must be written in the terms of your will for it to be carried out.
How Do You Know if Your Will is Law-Abiding?
While it is important to include all of your assets in your will, it is equally important to ensure it all conforms to the current laws that are active in the state of Nebraska. For instance, if you were to get into an accident and could no longer manage your estate, who would take on these financial obligations you already have? If you want to assign someone with the role of power of attorney in order for them to handle these finances, you must note this in your living will, which is also a fundamental piece that belongs in your estate plan.
The only way to truly know if your will, living trust, or estate plan is accurate and complete is by having a skilled attorney who specializes in the field of estate planning to assess it and determine if it meets all state requirements.
Although you may be a bit leery about selecting an estate planning law firm to step in and assist, rest assured as all the professional featured on our site are highly regarded in the field of estate planning. Go ahead and browse through our selection and then give us a call where an agent can work to get you paired up with a local trust and estate lawyer today.