Preparing a will is an important estate planning tool to prepare for your future. Not only does it give you peace of mind, but it also ensures that your family knows your wishes. A Worcester will attorney can help you prepare a will that accomplishes your goals, makes your intent clear, and protects your assets.
A will is a legally binding document that details a person’s wishes for the distribution of assets and other key matters such as guardianship for minor children. Any individual aged 18 or older and of sound mind is authorized to make a will in Massachusetts.
To ensure that a will is binding and comprehensive, it should include the following elements:
It is important to ensure all required elements are included and clearly detailed so that your will is easy to interpret and enforceable after your death.
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As with most things in life, the more prepared you are, the better off you’ll be.
Whether you already have a will and an estate plan in place that need to be updated, or you are getting started for the first time, you have come to the right place.
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A will benefits any individual who has assets they would like distributed in a certain way after their death and should not be put off. The following groups of people should prioritize creating a will:
If you aren’t sure if you need a will, schedule a consultation with a Worcester will attorney to discuss.
A will attorney will work with you to understand your goals for your assets and family and to create a plan to accomplish them.
While creating a will sounds simple, it requires extensive analysis and understanding of everything you own. Your lawyer will work with you to:
Your attorney will be an important sounding board as you address questions you might not have thought of previously about your estate and your preferences after your death.
Wills become even more complicated when they involve high-value assets that raise tax laws and tax liabilities that could affect your beneficiaries. If you have high-value assets, work with a lawyer to craft a will that protects inheritances for your beneficiaries, minimizes wealth transfer taxes such as estate taxes and gift taxes, and avoids the probate process.
After putting time and attention in your will, the last thing you want is to have it contested after your death. A lawyer will ensure that there are no loopholes that would allow a potential beneficiary to contest your will. Common bases for contesting a will include:
Certain factors can muddy the waters of inheritance, including:
A well-drafted will can help avoid these complicated scenarios and the strike they could cause between family members.
It is important to work with an experienced estate planning attorney when you are preparing a will. A lawyer well versed in the complicated issues that can arise is best suited to listen to your concerns and prepare a will that addresses them. Contact a Worcester will attorney today to schedule a consultation to discuss drafting your will.
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