What can I do for estate planning?

What can I do for estate planning?

What can I do for estate planning?

Wills are very important for the disposal of your estate according to your desire after you death. Through will one can not only anticipate who, how and when the estate, property and procession will be distributed, but it can also help to decide, and choose for your medical treatments, and inform your health care provider for the times you are not able to decide, such a will is called a directive or a living will. In which you can choose an active attorney to decide for your medical and health incase you are unable to do it yourself.

There are different ways to execute a will which are being used world widely. However, not all of them are law bidding in all the state but most of the states do consider it valid. A will can be produce in following forms:

Writing the will is the most common form of the will which is law bidding as well as employed most commonly these wills can be created either through filling the form or by working these can be created either by doing yourself such as stationary stores or statutory wills or by consulting the lawyers.

Statutory will or Stationary Store wills are the same kinds which are available online or locally on book stores. Although it is cheap and is suitable for estate planning of very simple assets however, it is not encouraged at all by almost any of the professional as these wills are just fill-in-the-blank and do not consider the every case individually. These wills are law abiding but may give birth to complications.

Creating a will by consulting an attorney is the best way of estate planning as it can help you and your family members get it activated and executed without any problems, and according to the guide lines set by the law. Also a professional being experienced can handle the matters related to the will and can give sound advice.

There are also some other ways to create a will which require professional consultancy:

An oral will is a will in which the content and terms are spoken and not written down; it is mostly produce if a person is dying. Such a will is also called a nuncupative will. These Wills are often accompanied by frauds therefore it is not recommended and is legally binding in a few states.

A will can also be made by video tapping or filming the will, such a will is call video will. This type of will is not legally binding in any state. However, some legal sources recommend that a video will can be a good supplement to a legal will because it physically demonstrates mental competency, thereby thwarting potential legal challenges.

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