Even if you’re still young, meeting with an attorney to draft your will and estate planning documents could grant you considerable peace of mind. After all, this document is the best way to ensure your children are taken care of and your loved ones receive a piece of your legacy. If you’re interested in learning more about preparing your will, the following guide offers an overview of what it entails.
The Essential Aspects of a Will
1. Executors & Guardians
First, you’ll need to appoint an executor—the individual who will become the legal owner of your estate after you pass. However, this doesn’t mean they take all your assets for themselves—they’re simply in charge of passing them onto your chosen beneficiaries. This should be a trusted friend or relative who you believe will carry out your wishes after you die. If your children are minors, appoint a guardian in case something happens to both of their parents. This individual will be able to make decisions, sign legal documents, and care for your child.
2. Gift Provisions
Next, you’ll want to outline the assets you’ll be passing onto loved ones so they get the items or sums you believe they deserve without having to endure any legal trouble. In addition to stating what the friend, relative, or significant other will receive through your will and estate—such as your car, your savings, or your autographed baseball collection—you must state when they should receive this, such as upon turning 18 or having children.
3. Provisions & Funeral Arrangements
The final section of your will should explain what the executor of the estate can and cannot do. For example, you may want to let them know how to handle your final income tax returns or where to donate your household items. You should also outline your wishes for your funeral service here—such as whether you prefer burial or cremation and what religion you would like the service to involve.
For a will and estate planning lawyer who can help you draft this all-important document and ensure your legacy, get in touch with The Law Office of J. Baron Groshon in Charlotte, NC. Attorney Groshon has over 28 years of experience in a number of practice areas. In addition to estate planning, he also caters to Chapter 7 and Chapter 13 bankruptcy cases. To learn more about this trusted attorney, visit his practice’s website. Call (704) 342-2876 to schedule a free consultation for will and estate planning.