When it comes to your children, your finances and your legacy, a will attorney is a key element to making sure that your final desires come to fruition. Custody of the children can be set up in advance. Assets can be divided and donations made. But how do you determine what goes where? How do you know where to put your money in the meantime?
Choosing an Executor
Someone will need to handle your estate when you are gone. An executor will protect your assets, make sure that all debts are paid and disburse money out to the people or entities listed in your last wishes. An executor often hires a will attorney to help with the details of a specific estate, making sure that everything is done correctly. This person needs to be someone that you trust completely and know to be honest.
The job will include everything from canceling your credit cards to handling your mortgage or lease. Couples sometimes have difficulty deciding whom to leave in charge if they are attempting to create a joint estate plan. Take some time to think it over. There are still plenty of other decisions to be made which you consider the options.
Custody of the Children
For most parents, this is one of the most difficult decisions he or she will ever make. You are choosing a person that will raise your children in your absence. No one wants to think about an early demise or someone else taking care of his or her children but in order to avoid probate or an unnecessarily difficult transition for the kids, someone needs to be named.
Talk to your will attorney about the options. List out the potential people that you are considering and what each person brings to the situation as far as benefits and drawbacks. Many times emotions make the decision making process for difficult. Having a legal representative by your side can really help you concentrate on the facts and the necessary details.
Your will attorney can also help you make decisions about your finances. If you have children, you want to make sure that they are cared for financially. If your children are grown, you have more options for what to do with your cash. Aside from just passing the money down to family members, there are ways to avoid being overly taxes on the estate. Consider setting up a trust in advance to ensure that your assets are protected.
A will attorney is a critical part of your decision making process. You can learn more about your options and figure out the best way to protect both your family and your finances. Set up an initial consultation today for specific information about your situation.
Wills and Trusts
Everyone needs a will. When you are ready, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506
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