Wills & Trusts

What Are the Benefits of Having a Will?

A will provides for the distribution of assets upon the death of an individual. There are a number of benefits to having a will. A will can determine who would be the legal guardian of your children upon the death of a parent. This aspect of a will can be crucial to the parents of minor children. A legal guardian is the person who is responsible for the care of the children until they reach the age of 18. By specifying who would be named the legal guardian, you can avoid any potential controversy about who may be named to care for your children. Without a will, such an important decision would be left up to the court to decide who would care for any minor children. Although the court weighs a number of factors before naming a guardian, a parent’s choice can eliminate any potential issues. Legacy Lawyers Group can help you set up a Will or Trust.

Another benefit is that having a will helps to prevent any potential disagreements or disputes between family and friends upon the distribution of assets. The death of a loved one can be a stressful and trying time. Any potential disagreements about who gets what can easily add even more stress straining relationships between the closest of relatives. Multiple family members may seek to lay claim over the same heirlooms. A will can act as a preventative measure to solve potential problems before they even start.

One of the biggest benefits of having a will is being able to decide where your assets should be distributed based on preference or need of the family. Although state laws provide a way to leave property to family members if the person did not have a will, that determination is based solely on statutorily defined relationships rather than the need of a family. Each family has a different situation and different needs that may not be best determined by the strict options set forth in the law. Whether a sibling or child may need special assistance, drafting a will enables each person to customize the distribution of assets to the family’s specific needs. You may feel uncomfortable leaving such an important decision up to the state.

Basic Will Package

Most everyone needs a Last Will and Testament. A Will allows you to determine how your assets will be distributed after your death. It also allows you to appoint the person(s), known as the Executor, who will be in charge of administering your estate. The Executor distributes your assets according to your will, and pays your debts out of your estate.

Other documents are also essential for any estate plan. Our Basic Will Package includes a financial Power of Attorney and a Health Care Power of Attorney, both of which allow you to authorize someone to act on your behalf in conducting financial affairs, and in making medical decisions if you are unable. It also includes a Living Will, which allows you to make certain end-of-life medical decisions now in the event that you are in a terminal condition and unable to make those decisions when they arise.

Our Basic Will Package Includes:

• Initial Consultation
• Last Will and Testament
• Health Care Power of Attorney
• General Durable Power of Attorney
• Living Will
• Signing Ceremony w/ Witnesses Provided
• Notary Service
• Estate Planning Overview
• Peace of Mind Meeting for Loved Ones

Family Will Package

Parents with minor children in particular need to have a Will in place. Our Family Will Package is designed to meet the specific needs of clients with minor children.

A Will allows you to determine how your assets will be distributed after your death.  A Will is also an appropriate place to appoint the Guardian(s) for your children in the event both parents have passed away. In a Will, you also appoint the person(s) who will be in charge of administering your estate. That person distributes your assets according to your will, and pays your debts out of your estate.

There are other essential documents, however, that are an important part of any estate plan to determine how your affairs will be managed during your life if you are unable to handle them. Our Family Will Package includes a financial Power of Attorney and a Health Care Power of Attorney, both of which allow you to authorize someone to act on your behalf in conducting financial affairs, and in making medical decisions if you are unable. The Family Will Package also includes a Living Will, which allows you to make certain end-of-life medical decisions now in case you are in a terminal condition and incapacitated.

Our Family Will Package includes:

• Initial Consultation
• Last Will and Testament
• Appointment of Guardian(s) for Minor Children
• Health Care Power of Attorney
• General Durable Power of Attorney
• Living Will
• Signing Ceremony w/ Witnesses Provided
• Notary Service
• Estate Planning Overview
• Peace of Mind Meeting for Loved Ones

Living Trust Package

Instead of distributing property through a will, some clients prefer to execute a living trust. A living trust is designed to hold your assets during your lifetime and then provides instructions for how the trust property is to be distributed after your death.

You should consult with an attorney to determine whether a living trust is the right approach for you. Generally, the benefits of a living trust are 1) to avoid probate, which may be particularly advantageous for clients owning real estate in multiple states, 2) to protect privacy; a probated will is filed with the court and is a public document, while a trust agreement may remain private.

Our Living Trust includes:

• Initial Consultation
• Revocable Living Trust Agreement
• Quitclaim Deed for one (1) property
• Health Care Power of Attorney
• General Durable Power of Attorney
• Living Will
• Signing Ceremony w/ Witnesses Provided
• Notary Service
• Estate Planning Overview
• Peace of Mind Meeting for Loved Ones