Estate planning is extremely complicated and can be costly, even for simple estates. That being said, skimping on the estate planning process and opting for a basic Will can not only expose your estate to common issues during probate, but can also open it up for contesting.
Avoid the Do-It-Yourself Will
Estate planning is complicated; therefore, if you are considering the do-it-yourself Will in Essex Junction, you need to understand that it requires extensive knowledge of estates, taxes, guardianship, and inheritances that apply to Essex Junction, Vermont. An estate planning attorney already knows the procedures set forth by the law, which means he or she can create an accurate and efficient Will that will protect your property long after your death.
Reviewing Your Will
Wills are documents that will change over time. Whether it changes once a year or once every decade, it is imperative that you continually review your Will to make sure that it still applies today the same as it did when it was initially created. Always review your Will in Essex Junction if:
- You have relocated;
- Your financial situation changes;
- You have added another dependent;
- Your life insurance changes;
- The marital status of your heirs has changed;
- Guardianship plans for minor children have changed;
- You purchase property in another state;
- You have inherited or purchased new property;
- The value of your current property increases significantly in value;
- Or tax laws have changed regarding your estate.
Though a basic Will is a great starting point, there is so much more that goes into a Will. Not only is a well-established Will frequently updated, but it covers all of the bases regarding assets, property, children, and power of attorney. Therefore, when you begin the Will creation process, make sure to ask your estate planning attorney any specifics you need to look out for to create a secure Will for your estate.
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