What We All Need to Know About Wills
We’ve all seen it happen and heard the horror stories. The unfortunate examples of the unexpected happenings that devastate lives and ruin finances. And yet so many of us resist, or procrastinate the establishment of a will. We all know the inevitability of our mortality and yet it still seems that many Americans simply find the writing of a will to be somewhat distasteful. According to the American Association of Retired Persons two out of five people over the age of 45 do not have a will. There are some important factors, however that should be kept in mind before drafting a will. As the testator of your will, you will need to establish an executor first. The executor will be the person to manage your estate and execute your final wishes. Dividing up your estate should include all valuable assets, of course, but can also include smaller personal possessions that hold more sentimental value than actual dollar value. Be sure to be specific and name each beneficiary and the property you are designating to them. A will also is used to set up guardianship for any children or dependents. If you should happen to die without a will, your estate will be settled through a court-appointed administrator who will act as executor of your estate since one had not been named by you. This administrator divides and settles your estate through probate. Probate is the process of dividing and transferring your property to its rightful heirs. This administrator has no prior knowledge of your wishes or needs and follows only the laws of the state to which he or she is bound. Utilizing an estate planning lawyer in Raleigh to establish a final will can help you avoid leaving a mess for your family or the courts to work out. At Brady | Cobin Law Group, PLLC, we believe that you should have complete control over your estate while you are living and after you have passed. For a full consultation with an estate lawyer in Raleigh that gives you the control you desire and deserve, call us at 919-825-1518.