A will is a written document that determines how your assets are distributed after your death. It also allow for naming a guardian for your minor children. estate planning in Jenison MI can seem like a daunting task, but does not have to be with the right legal advice.
The contents of this document should include the name of a guardian for your minor children; name the beneficiaries of assets and assign someone as executor of the will. The job of the executor is to make sure that the terms of the will are carried out. There are different reasons why someone may need more than a standard will. Probate court proceedings are required when leaving property through a will before the inheritance is transferred to the beneficiaries. Most people want to avoid probate court because it can be a costly and time-consuming process. Living trusts allow for property to pass directly to heirs without going through probate court. When assets are placed in the trust, this property is not included in the probate estate.
If couples or singles want to leave property to minor children, this information should be put in writing and carried out by the executor. Many parents with special needs children want to make sure their children are financially secure. This document can protect the child by naming a guardian and including assets for taking care of the child’s living expenses. If you are married and have children from a previous marriage, a will may prevent conflict from occurring between the spouse and children. It can prevent family members from fighting over the property and having disagreements. Some families have stopped talking because of assets left behind by a deceased loved one. If you want to prevent family members from fighting, then you should write out a document listing your assets and beneficiaries.
People who want to protect their assets can benefit from getting legal advice. An experienced lawyer can help find the right product, like a trust or will for your personal situation. estate planning in Jenison MI prevents family members from fighting and stops the court from taking control of property.