If you are facing legal problems of any kind, you may be feeling anxious about them. Getting in touch with an attorney is a fantastic way of dealing with your legal problems head-on. However, lots of people avoid approaching an attorney because they do not understand the different ways in which a legal professional can help them. Although this blog is written by amateurs, our aim is to help you to understand the law and how an attorney can help you in court. Read on to find out about the difference between civil and criminal law, divorce, and issues will wills and estates.
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A will is the document that dictates the division of your estate once you die. Without a will, administering your estate becomes an expensive and prolonged process. In legal terms, death without a will is "intestate," and the distribution of your estate depends on the law in your jurisdiction. This article provides a few valuable tips for writing wills.
Naming an Executor
An executor plays an essential role in ensuring your will is followed to the letter. Some duties include locating beneficiaries, obtaining copies of the death certificate, collecting your mail and cancelling your subscriptions and credit cards. More importantly, the person manages death benefits from insurance companies, Social Security, union fraternal societies, and employers. Therefore, how do you name an executor?
First, ensure that you can trust the executor. The person can be a close relative who cares for you and your beneficiaries. Alternatively, you can select anyone who is a beneficiary of a substantial amount of property according to your will. If you have more than one executor, ensure they cannot act without consultation and each other's consent. You can also name an institution if your estate is large and complicated.
Choosing a Guardian
You can change your will and adjust your choice of a guardian. Therefore, do not worry about making the wrong selection. Still, ensure you select people who can be there for your children until they become adults. It would help if you also appointed a backup guardian to be safe. Some couples cannot settle on guardianship. Therefore, ensure you compromise to prevent the topic from becoming a source of contempt. If you are uncertain about the appointment, the court can always pick one after your death. However, court processes rely on logic and facts instead of the compassion and experiences that characterise social relationships.
Be Specific
Wills must be specific since you will not be present to interpret contentious issues. Always state the percentages and amounts of your assets assigned to particular beneficiaries. Some of your beneficiaries may be young, disabled, or irresponsible. Ensure you speak to a lawyer about setting up a trust for such persons. You can also review the will constantly to update it depending on various events in your life.
Digital Assets
A will should also include your instructions regarding the appointment of someone who can handle your online credentials. Do not include the actual passwords and identities in the will. Instead, appoint a person who can use the appointment letter to request access to your social media accounts, emails, cryptocurrency wallets and other digital assets. Such credentials are essential in helping your family close down social sites or inherit assets that helped you build a brand.
Ensure you take precautions when picking an executor and a guardian in your will. Wills must be specific. Additionally, do not forget to include digital assets.
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