Wills help to explain your decisions, after you can no longer explain them yourself. That is why having a well-written will is important to enable your wishes to be carried-out correctly. Usually, the larger estate, the more important it is to have a professionally drafted will in place.
There is somebody designated to carry out the instructions in the will, called an executor. Make sure your executor is willing to play the role by setting their expectations about what you would like them to do, upon your death. In addition, it is usually a good idea to have a back-up executor. In some cases, spouse pass away at the same time, having substitute executors helps to handle the situations and support a proper execution of the wills.
Columbia, MO has over 20,000 children. These children create many unique situations to handle in a will. For, example, if your children are under-age, you will need trustees to help handle the assets until it is time for them to be under the control of your matured children. In addition, guardianship is a particular concern, especially if you are unmarried and pass away.
If there are any specific items that should be passed to specific people, make a note of that in the will. Items like wedding rings, wedding dresses, and other family heirlooms fall into this category.
For everything else, there is the "residual legacy" clause. These terms help assign everything left that isn't mentioned in the will. So, everything leftover winds up going to somebody or some organization, rather than being unassigned and exposed to the raw legal system.
Financial matters can be very complicated and should be examined closely to help plan for the best way to pass financial assets and things of great value to the next generation. Tools like gifts and trusts are frequently used to effectively manage tax implications.
Make sure you legally sign the will, store it, and let the right people know where it is. Don't leave the only copy in a draw that can be damaged by flooding and fire.
Whatever your legal challenge, we will listen to your concerns and answer your questions about likely outcomes and consequences. We deal with child custody and divorce in Columbia, MO. Contact Holder Susan Slusher, LLC today for a free consultation or case review.
The information on this web page does not provide legal advice and does not create an attorney-client relationship. If you believe you need legal advice, please contact an attorney directly.