Let’s face it: it’s no fun to write a will.
There’s a reason why only 44 percent of Americans say they have a will that describes what will happen to their money and estate after their death. It might seem complicated, expensive, or flat-out depressing.
But writing a will has never been easier. There’s no shortage of options available for people looking for estate planning help. Any estate attorney can help you craft a will to get your estate plan on track.
Do you need a better estate planning strategy? Here’s why you should hire an estate attorney to craft the best simple will.
What is a Simple Will?
Are you ready to write your simple will? It’s important to first understand if its the right choice for you.
A simple will is a legal document that highlights the wishes of the person writing it. It indicates asset distribution and who will be in charge of handling an estate after someone’s death.
There are a few reasons why people choose this type of will. It’s typically a good option for people who are healthy and under the age of 50. It’s also a fit for those who have smaller estates exempt from estate taxes.
What is a Complex Will?
Simple wills aren’t a fit for everyone. That’s where the complex will comes in.
Complex wills are a viable option for people who qualify for estate taxes after they die. They are also used to set up a trust for asset distribution. You might also consider this type of will if you are a business owner, high-income earner, or expect the will to be contested.
If any of this applies to you, it might be a good idea to hire an estate planning attorney. They can give you the help you need to handle more complex matters.
When to Get a Will
You might not think you need to craft a simple will. After all, people who make these wills are young and in good health.
However, it’s still a good idea to hire an estate attorney to craft simple wills. There are numerous benefits to preemptively set up a will.
Wills set a legal precedent for who gets your estate. This is especially helpful if you don’t expect to give your estate to your spouse or immediate family.
They are also useful in disclaimer planning. This system lets a surviving spouse pass into a trust or not. This can limit estate taxes and other fees.
What if you have a living trust? An estate attorney can help you stay up to date on your assets. They can handle the tedious tasks of transferring bank records, real estate documents, and other important financial accounts.
A simple will is also useful to name a guardian for children in the case of an untimely death. This will ensure your children get the financial support they need after you die.
You might think it’s expensive to craft your will. However, the average cost of setting up a will is only about $375.
There’s no denying the importance of setting up a will. You can have peace of mind and make sure your assets fall into the right hands by hiring an estate attorney.
Are you looking for an attorney for your will? We can help. Contact us to schedule your free consultation today.