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Estate planning is important for your family’s future. Often, we hear stories about disputes over inheritances. Making the proper plans means that your family can avoid any stress.
Most people decide between a will or a trust when planning their estate. A will has many benefits including naming a guardian for minor children. You can state who you want to receive various assets. A will is also a tool to make your wishes known. Many people state their funeral and burial preferences. This means your family won’t have to make that difficult decision.
Don’t try to make estate decisions on your own. The law has too many rules and regulations. Did you know, that in many states, a will has to have three witnesses? Your will can be contested without the signatures. You need to hire an Estate Law Lawyer Bucks County. Make sure your wishes can’t be challenged! Visit website to find out more.
The biggest advantage of creating a trust is that it doesn’t go through probate. The trust goes into effect upon the death of its creator. A will goes through probate and becomes a public document. A trust, on the other hand, remains private. A trust allows you to put conditions on an inheritance. You can state that money must be used for a specific purpose, like education. Money stays in the trust, and a trustee distributes funds when it’s necessary.
A living will is a document that states a person’s preference regarding life prolonging medical treatment. A living will is also referred to as an advance directive. This document usually tells doctors whether or not a person wants to be kept alive by a machine. It also provides directions about what to do if the person is in a vegetative state.
You can have a health care power-of-attorney. This document allows someone else to make all health care decisions if you’re unable to. Many of these estate planning documents protect your family with Estate Law Lawyer Bucks County . You can protect them from having to make decisions regarding your last wishes. You’re also making sure that family assets are passed down to the next generation.