Get help from an Estate Planning Lawyer to create a valid will

Get help from an Estate Planning Lawyer to create a valid will

There is a common misconception that estate planning is for the uber rich. That is not true. If you earn and spend, there must be some personal possessions. In case you die without a will, these would be distributed according to the rules and regulations of your state. Moreover, this does not include your material possessions only, it also includes any minor children you have. You need to consult an estate planning lawyer to deal with the matter.

It is, therefore, essential to plan about what would happen to your assets in case of your death. Statistics show that only approximately 30-35% Americans has a will. You need to think about estate planning to ensure the security of your loved ones when you are not there to take care of them.

What needs to be mentioned in a will? Here is a quick checklist of it.

1. Your full name and date of birth

2. The names, dates of birth and addresses of the individuals who would inherit the assets

3. The details of your assets and liabilities

4. The details of who gets what

5. The name of the executor/administrator of the will

The next thing to consider is what comes under the category of your assets. All material possessions are distributed by the will. This includes real estate properties, motor vehicles, cash, bank accounts, safe deposits, jewelry, furniture, heirlooms, and so on. Whatever seems worthy is suitable to be included in your will.

An added advantage of creating a will is that you can ensure the future of your minor children with its help. It is quite simple; all you need to do is mention the name of the individual who would be appointed as a guardian for the child in the case of your death. You could also leave some portion of your property for the child's upbringing.

Another common question is why opt for an estate planning lawyer when you can do the task on your own. You can draft your will according to your wishes. However, without the help of a good legal professional it may have flaws like errors and omissions. Such a will won't be acceptable to the state and would never serve its purpose.

You can distribute all you possess as per your wishes with the help of a will. Most states would allow this. However, the state authorities would not permit giving effect to something like destruction of your property in case something happens to you. Your estate planning lawyer would be able to help you understand the best possible way to make a valid will.

You can opt for any of the proficient Virginia Beach Estate Planning Lawyers to help you deal with the process. He/she would be able to draft the document in the right legal way, check for errors and omissions, file it and see that it attains the status of a valid will.

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