Gone are the days when people would wait to put a Will in place until they got married, or were starting to approach their older years and realized they had assets to protect and ensure that loved ones would receive them upon their death.
Today, it’s not really your age that should be considered, but instead, taking a close inventory of what kind of assets you have. Wills are no longer just put into place to cover real estate or monetary wealth, but now include protection for digital assets, cryptocurrency and even non-fungible tokens. Too many young people underestimate the extra work that will have to take place if they don’t have a Will or directives outlining what should happen to their car, home or other forms of wealth. By clearly establishing how your assets will be divided or distributed, you can help to prevent any infighting that could go on among family or friends who just assume that your property will become theirs.
The estate planning attorneys at the Law Offices of Todd Cushner & Associates possess an in-depth knowledge of the legal, and personal issues that are often involved when it comes to writing a Will. They can walk you through not only the legal steps that are necessary to take, but can also provide a detailed explanation of what will happen should you pass away without establishing a Will.
Things to consider once you have a Will in place
- Do you have all necessary documentation in one place?
- Have you informed your heir(s) in advance?
- Have you left contact information for the lawyer who has the details of your Will and a thorough understanding of your last wishes?
Prevent Surprises
It’s important to routinely review the contents of your Will to make sure it is up-to-date. Not just your assets, but ensuring that the people you have named as beneficiaries are still current and meaningful. There are too many sad stories of money that ended up going to the wrong people due to an outdated will or major inconveniences that can happen when no one can legally distribute your assets.
With proper preparation, a will can be designed to support your family’s needs and concerns. Contact the Law Offices of Todd Cushner & Associates for a free Will planning consultation.
