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Is your family provided for in your will?
Jul 07, 2015
It’s never too early: Have a family? Plan a Will.
It’s something everyone should do once you are over the age of 18. It’s not a complicated process, but it’s important to have a will, and if you have a family as well, you want to make sure you avoid issues that could surface due to lack of planning.
In working with a qualified estates and will planning lawyer, you can determine who gets what assets when you are gone and, more importantly, you don’t leave it to the courts to make these important decisions especially if your children are young.
If your children are minors, you also need to appoint guardians and how much you give to them too as you may want to give money control over to other relatives to save until your children reach the correct age. You want to make the decision, yourself, so your assets don’t escheat to the crown, which means title or property goes to the government when there is no owner.
When there is a blended family, it is important to do smart estate planning so that both partners can feel their children are treated fairly in event they are no longer around in the future.
And, yes, there are sites that help you with will planning, but often there can be a complex issue or simple questions that needs legal advice and that’s where a good estate planning lawyer can be helpful.
So, remember, when children in the mix make sure to take the time to plan a will ensuring peace of mind for you and your family down the road. It’s never too soon.