Mt. Juliet and Lebanon TN
A Will is ideal for anyone with assets, special belongings, children, or pets. It provides direction for your family on how to handle your things after you die. You probably don’t want to think about it, but death is a fact of life, and it’s much better to prepare by having a Will than not have one. Not having a Will could make dealing with your property and other assets a battle for your loved ones. So today on the blog, the estate planning attorney in Mt. Juliet, Yancy Belcher, shares what to include in a Will.
If you have minor children, this is one of the main reasons to have a Will in the first place. It ensures your children are cared for after your death. If you and your spouse (or their other parent) were to pass away before your children become legal adults, you can state in your Will who you’d prefer to take care of your children. Without a Will, most state laws award custody to the nearest relative, which may not have been the outcome you wanted. Name a guardian in your Will so that you can have peace of mind knowing who will raise your children in the event that you pass away before they become adults.
If you have significant assets, such as a home, collectibles, investments, retirement, or other income, you can list in your Last Will and Testament who should receive your assets. Be sure to make it clear which heir should receive which asset. Be sure to describe each asset clearly, so that the courts and your executor understand. For example, if you own more than one car, be sure to name the specific make and model of each vehicle and the name of each heir that should get them.
If you own any “real property,” which includes homes, land, or other buildings, not just things, it can be a little more difficult to pass down to someone. A Trust may best if you have minor children. A Trust names one person, either a bank, law firm, or named trustee, to hold property titles for another person (usually a minor) or beneficiary. Since minor children cannot own real property, a Trust may be the best option for you if you want to leave your property for your children. It can be transferred to them once they reach the legal age of ownership.
Estate Planning in Mt. Juliet, Hermitage, and Nashville
Planning your estate or developing a Will isn’t always easy to think about. But having a Will and other legal documents in place before you pass away will make life much easier on your loved ones after you’re gone. Plus, it ensures that your wishes are carried out. It’s best to solicit the help of an experienced estate planning attorney near you in Nashville to ensure your Will follows state laws and that you don’t leave out anything important. If you’re looking for a Mt. Juliet attorney that does Wills, call the Law Office of Yancy Belcher at (615) 773-2889 to schedule your complimentary consultation.