In order to pass along wealth, outline your wishes, and protect your loved ones after your death, you will need to create a will and hire an attorney who can help you with all of the legal aspects surrounding the will. Some things you will need to keep in mind include hiring the right wills and trusts attorney, putting together a will, and also matching your will with a thorough life-insurance policy. With these points in mind, follow the three tips below so that you can put together your final wishes with no problem.
#1: Hire a Quality, Credible Wills-and-Trusts Attorney
Your first step, before putting pen to paper on a will, should be to hire a credible wills-and-trusts lawyer. These professionals will help you to understand the process, what is required of you, and what the law says about the points you want to make in your will. These attorneys will guide you every step of the way and will maintain records of your will for safekeeping once it is done. Speak to a few different lawyers to get a feeling on which you believe would be best positioned to help you create your will. It might cost you about $1000 or so to hire a top-notch wills-and-trusts attorney.
#2: Take Your Time to Thoroughly Complete Your Will to Your Liking
There are a lot of things you will need to keep in mind when putting together your will. You should first and foremost figure out your beneficiaries and decide how you would like to execute the will at the time of your death. In most cases, your attorney should be trusted to handle this to diffuse any incompetence or conflicts of interest. It is important to remember that the most current version of your will is the one that will be executed, so continuously update it throughout the course of life changes and accumulation of wealth.
#3: Create a Life-Insurance Policy
Finally, be sure that you open up a valid life-insurance policy. Life insurance is useful because it can typically kick in before a will is executed. The proceeds from your life-insurance policy will go to your loved ones as soon as they display a death certificate, and some of this money can go toward your funeral costs if necessary. Shop around with different insurance providers to make sure your loved ones are cared for in this regard as well.
Use these tips and touch base with professionals who can help by talking to firms such as Donald B Linsky & Associate Pa.