Wills Attorney O’Fallon MO
Developing a plan for the future of your loved ones can be outlined through the assistance of a wills attorney O’Fallon MO residents rely on. At Legacy Law Center, our lawyers work diligently with you to understand your goals and desires regarding the preservation of your estate, possessions, and other property.
Information to Consider When Putting Together Your Will
It is a common misconception that only the wealthy need to have an estate plan in place for when they pass away. In fact, just about everyone should put together a will. There are a number of components to creating a will that go far beyond property or money. Since 2012, Legacy Law Center has been helping O’Fallon MO residents outline their final wishes and protect the future of their loved on. We are dedicated to helping our clients come up with a plan that is detailed and encapsulates all of the necessary components.
Benefits of Creating a Will
Working alongside a lawyer to create your will can ensure that the will is inline with the regulations of state laws, provides the greatest tax advantages, and accounts for particulars in your specific circumstances. After your death, a county court makes sure that your final wishes are carried out. A wills attorney in O’Fallon MO may state that the benefits of creating a will may typically include:
- Ensuring your possessions are distributed according to your wishes and to the people you want. If you leave without a written will the law can decide how your estate will be distributed. Having a will allows you a peace of mind that your possessions will be distributed according to your wishes.
- Provides you the power to appoint an executor and/or trustee. This means you have the ability to designate a trustworthy and impartial executor that will honor your terms and conditions of the will.
- A wills attorney may emphasis that writing a will is especially important if you have children that are under the age of 18. In a will, you have the ability specify who will be responsible for your children in the tragic event of the death of both parents.
- A will gives you the opportunity to make specific funeral arrangements. This lowers the stress for loved ones and assures your body will be treated in the way you desire.
- An experienced O’Fallon wills attorney may be able to help quicken the legal process as well. If a will is created then it is faster and less costly to settle an estate. Legal fees are also reduced which helps to protect the value of your property and assets.
- Above all, a wills attorney can help make a difficult time less difficult. Losing someone is incredibly hard, a will outlines your exact wishes – from the funeral arrangements to property distribution. During an emotionally difficult time a will can keep your loved ones from having to deal with bureaucracy during a time of grieving.
There are several benefits to creating a will and a trusted wills attorney can help you be at peace with how your assets and possessions will be handled in O’Fallon MO.
Identifying an Estate Executor
As stated above, one key benefit of creating a will is the ability to appoint someone as the executor. The executor is responsible for distributing your property and assets after you pass away. Ultimately, they will carry out the details outlined in your will. You will want to appoint someone that you can trust and who is up to the task of taking on this important responsibility. In most cases, a family member in O’Fallon MO is usually identified as the executor of the will. There are a number of duties that an executor is responsible for:
- The executor will be responsible for obtaining the will and reviewing it. They will then need to file the will in probate court in O’Fallon MO before any assets can be distributed.
- The executor will need to notify any accounts that were held by the decedent. This could include banks, credit cards, and student loans. Notifying the Social Security Administration will be important as well.
- An executor will need to take stock of all the property and assets that were listed in the will.
- The executor will distribute all assets to beneficiaries.
- The executor will maintain any properties until they are disbursed to beneficiaries.
It may be a good idea to identify a backup executor in the event that the originally appointed executor declines the responsibility. A wills attorney can help you document this.
How is a Will Validated?
Before assets can be disbursed to beneficiaries, the will must first be validated in probate court. Probate is the first step to the process of distributing assets. Probate ensures that any outstanding debts are taken care of through the estate and that the will is carried out in the way you would have wished. During this time, the executor will assume responsibility of the estate or will. There are a few items commonly included in wills that can avoid the probate process:
- Retirement accounts that named a beneficiary
- Personal bank accounts
- Community property
- Some household goods
Without a Will
When there is no will in place, you put the division of your property in the hands of the courts. The process can become incredibly complex very quickly. Dying “intestate,” or without a will or trust, is the last thing that you will want to happen. The outcome really will vary depending on your marital or relationship status and whether or not you have children.
Finding the Right Help
Outlining decisions about the end of your life can be very difficult and saddening; however, it is an important process that can help others once you leave. Legacy Law Center is here to assist you and help you explore different options. We may help you navigate the creation of your will with ease and ensure that all of the necessary components are incorporated into the document. Our attorneys have your best interest at heart and may help you organize your wishes in a legally recognized manner. To schedule a free consultation with a dependable wills attorney O’Fallon MO residents can turn to, call us.87-5297.