May 3, 2018

Basic trusts and wills are value estate planning tools that essentially assure that your assets are distributed according to your wishes after you pass away.  If you do not have estate planning documents like this in place, you could make mistakes that could leave your heirs paying the price. 

This also increases the chances that your heirs may argue about who has a rightful claim over the property included in your estate, and you are essentially handing over the opportunity to make decisions about these issues to the state.  

The state may not come to a conclusion about what is in your best interest or the — what is in your beneficiaries best interest or what you might have listed yourself. Properly written trusts and wills go a long way towards articulating your individual goals and giving you a clear path going forward. If you do not have an experienced estate planning attorney to help you with these various documents, you could be exposed to a number of different challenges.  

Properly written trusts and wills should be evaluated on a regular basis to ensure these strategies are still in line with your individual needs. The support of an extended planning attorney during this time is extremely valuable for identifying possible problems.