When To Prepare a Will
If you have property or family members who depend on you, you should create a legal plan to protect your loved ones in the event of your death. If you are married, you and your spouse should have one that is regularly reviewed and modified as life circumstances change. It is also essential for parents of minor children to designate guardians to handle legal issues in the event of a tragedy.
Size of Estate
Many people make the mistake of thinking that large estates are prerequisites for proper planning. Conversely, it can be argued that it is even more important for people with smaller estates to assure that the assets and benefits they do possess are properly protected and that heirs and beneficiaries are properly identified. It is also important that the people who will manage and care for your assets are people you can trust to carry out your wishes.
Considering the importance of making a will, the expense is modest. A properly drawn one should reduce expenses, minimize taxes, and simplify the administration of an estate. Fees for preparing and drafting a will depend on a lawyer's experience and expertise, the situation's complexity, and the amount of time spent counseling clients and preparing documents. When first consulting a lawyer, approximate costs should be discussed.
Our legal team will assist you in the long-term, ongoing process of maintaining a will. As lives and circumstances change, your estate planning requires monitoring and modifications.