You have already gone through the estate planning process in Essex Junction Vermont, only to realize that the basic Will is not enough. Even a well thought out and prepared basic Will doesn’t fully protect your estate or the individuals involved with that estate. Therefore, before you skip a few steps in estate planning and opt for the basic Will, consider some of the reasons why the basic Will in Essex Junction does not fully protect your assets in the end.
Use Properly Executed Will
No matter how basic a Will is, you need a properly executed Will to establish a secure foundation for your estate planning. This will designate everything required to manage your estate, including where your property will be distributed and who will watch over your children.
Do Not Assume You Need to Be Rich
Wills and Trusts are not just for the rich. In fact, lower and middle class families all are encouraged to create Wills due to the fact that the average American has at least one asset worth protecting. When a person dies without a Will, his or her estate will go through probate, which means the courts will determine where to distribute the assets.
Three Things Every Will in Essex Junction Should Include
When you create a Will, whether by yourself or through an estate planning attorney, it is important to include three specifics, including:
- The guardians of any minor children (children under the age of 18);
- Information regarding the creation of a trust;
- Who the executor of the estate will be upon your death
Creating a Will in Essex Junction requires a professional. The classic do-it-yourself Wills are not enough, especially if you want to protect your assets and your estate. Therefore, always consult an Essex Junction estate planning specialist when creating a Will, and continue reading on for more about why a basic Will is not enough.