When someone mentions a will, most people get the impression of looming death. However, this need not be the case, since you can prepare your will as early as possible. It is always better to play it safe than to find yourself or your loved ones in a dilemma in case the unfortunate occurs.
A will simply gives you the opportunity to ensure your wishes are known and executed once you die. It will assist in the distribution of all your property or estate. It is also a brilliant way of avoiding family conflicts and misunderstandings. The following post describes what a will is from a legal perspective:
What is a Last Will and Testament?
A Last Will and Testament is an important legal document that is the first building block to any good estate plan. After determining that you need an estate plan, your estate planning attorney will recommend either a will-based estate plan or a trust-based estate plan. Your Last Will and Testament will take on significantly different roles depending on the type of plan that you choose. Read more at The Balance…
As the post above describes, a will is a legal document, meaning that it is acknowledged in law as a legally executable document. It is a guarantee that things will go as you have directed, providing a means to find a solution should your wishes not be honored.
A will is of great importance to you as an individual and your loved ones or beneficiaries. In situations where a person dies without having written a will, the state takes over all their property. The following post outlines clearly why you should consider having a will in place:
Why Is a Will Important?
Most people should have a will. Wills can distribute your property, name an executor, name guardians for children, forgive debts and more. Having a will also means that you, rather than your state’s laws, decide who gets your property when you die. In most cases, wills are typewritten legal documents that are signed and witnessed, but some states do recognize other types of wills.
A Will Prevents Intestate Succession
When you die without a will or other estate plan, state laws known as “intestate succession laws” decide which family members will inherit your estate and in what proportion. In most states, your spouse, children, or parents take priority under intestate succession. Read more at Lawyers.com…
You can see that apart from distribution of property, a will can do a lot for you. Thus, it is wise to have it and ensure it is done appropriately.
Different states have different ways of applying the law concerning property belonging to someone who has passed on. The following post describes the scenario in North Carolina:
Why You Need a Will in North Carolina
At its most basic, a will is a document that states how you want your property distributed after your death. A will can be a complex document depending on the nature of the estate you’re leaving behind. If you have significant financial assets, such as bank accounts, investments, insurance policies, business interests, and other property that you want divided among numerous family members, friends, business associates, or charities, your will may be a complicated document.
If you pass away without having a valid will in place, known in legal terms as dying intestate, your estate — basically everything you own — will go to your next living relative or relatives according to a formula under North Carolina’s intestate succession laws. If you have no relatives who can inherit under the state’s intestacy laws, your estate goes to the state to support students at a North Carolina college or university. Read more at Breeden Firm…
It is clear that having a will is critical for protecting your loved ones and your estate. A document this important must be prepared with great thought. Meek Law Firm will work with you every step of the way to ensure that your wishes are clearly stated and will be legally recognized. Contact attorney Jonathan Meek today for his expert assistance. Call (704) 848-6335 or use the contact form on the right of this page to schedule a consultation appointment.