Planning Your Estate and Don’t Know Where to Start?
An estate planning law firm St. Peters, Missouri offers can help you make arrangements for what will happen to your legacy after you pass away. Have you been thinking about what will happen to all you have built when you die? It is sometimes a scary and uncomfortable thing to think about. However, with the assistance of a St. Peters estate planning law firm such as Legacy Law Center, the process can be much easier than you may realize.
Here are answers to some common questions about the process of planning one’s estate:
Does “estate planning” really have to be more complicated than just writing a will?
Estate planning encompasses many aspects of planning for what will happen to your assets after your death. An estate planning law firm St. Peters, Missouri locals recommend can review all of your options with you. Most people have heard of a last will and testament, or just a “will.” It is a document that designates who will receive which of your assets after you die. Wills are a relatively simple way to make your last wishes known. However, there are also potential pitfalls.
First, you will need to make sure that you write your will so that it complies with the requirements of your state’s laws. For example, some states require that a will be witnessed and signed in a particular way so that it can be deemed authentic without the need to present evidence in court. Charles J. Moore of Legacy Law Center can guide you through the will-writing procedure. As an estate planning law firm St. Peters, Missouri families turn to, we have helped many individuals navigate this legal process.
Second, almost all wills must go through a process called “probate.” Many people have heard of or dealt with probate directly. If you have, you know that it can be an onerous and time-consuming process. The court will consider the validity and authenticity of your will, assess your assets and any liens that others may have against those assets, and, eventually, distribute the assets to your designated beneficiaries. This process is public and can significantly delay the time between your death and when your loved ones receive their inheritance. Experienced estate planning attorneys such as those at at Legacy Law Center, may be able to help you avoid probate. However, an estate planning law firm in St. Peters, Missouri can potentially save your loved ones time, hassle and money.
Do I need to have an estate plan, even if I just want everything to go to my spouse?
In a word, “yes.” Life can be unpredictable and even though your spouse may survive you, there is a chance that he or she may not. In the event your spouse passes before you, or very close in time, having an estate plan is an important failsafe. This is especially true if you have minor children or a business that will need immediate care and attention in the event of your death. State laws prescribe who will receive assets if you die “intestate” (without a will). Typically, if you die intestate, your assets will flow to your spouse. However, if your spouse is no longer living, you may wish to designate someone other than the default beneficiary in your state. This may be particularly in important to you if you are the owner of your business or have a complicated family tree. It is important to consider all possibilities when planning for the end of your life. Consider contacting the attorneys at Legacy Law Center, an estate planning law firm St. Peters, Missouri community members rely on for assistance.
If you have any questions about the information above, or any other question about estate planning, call Legacy Law Center today for a free consultation. We have gained experience and knowledge about estate planning through helping many people. Call today to reach an estate planning law firm St. Peters, Missouri residents choose when they want to protect their legacy.