Dealing With The Legal Consequences Of Being Broke

Posted on: 5 March 2021

If you care about your family's future — especially after you pass on — working with an estate planning lawyer when creating a will is important. Their insights on this process can have huge payoffs. 

Help You Remember All Relevant Assets 

For a will to make a difference after your passing, every asset needs to be highlighted so that it ends up with the right party. Your family may need all the money it can get during a time of grieving, and discovering every asset in your possession can give them financial means to recover.

An estate planning attorney can help highlight all relevant assets that you may want to include in this will, including things like property, jewelry, royalties, stocks, bonds, and actual cash in checking accounts. Nothing will be left to interruption in terms of where assets should go thanks to an estate planning attorney.

Prepare Family Early On

There are some people that do not find out about a family member's will until after they pass on. They may then be in for a shock when they realize they are not inheriting certain things. You can easily avoid this potentially embarrassing and stressful situation with your own family by working with an estate planning attorney when creating a will.

Once your wishes are documented and the will is legitimized, you and the attorney can sit down with relevant family members to discuss these plans. This isn't legally required, but it will help smooth things over well before you pass on. It also gives family members plenty of time to make preparations of their own.

Gather Witnesses

It's critical for you to remember that, when creating a will, it will not be truly legitimate unless there are witnesses that watch you sign your name and date the document. An estate planning attorney can help acquire these witnesses so that there are no doubts about the authenticity of this will. Doing so is especially important so that no family members contest the will once you eventually pass on. The attorney will ensure everything is done correctly, with the right number of witnesses to verify this important event.

Creating a will well before you pass on is a huge step in planning for your family's financial future. An estate planning attorney can be part of this process, taking a look at your assets, helping you sign certain things, and ultimately helping you run into fewer problems. Contact an estate planning attorney for more information.