Noon and Hammett can prepare your Last Will and Testament to help ensure that your wishes are followed when you pass. Your will is the foundation of your estate plan, and contains your directives for end of life. Your will will identify an executor (personal representative) who will manage your estate and finalize your affairs such as paying off any debts, filing your tax returns and distributing property.
You may be putting off creating your will because it makes you face your own mortality. You may think that you’re too busy, or that making these decisions is too difficult, but creating your will is extremely important, especially if you have children.
If you should die without a will, the State will determine how your assets are divided among your family. This can also cause significant disagreements at a time that is already charged with emotion.
According to U.S. News and World Report*, the #1 most important thing to keep in mind when preparing your will is “Don’t make it yourself.”
The estate laws in South Carolina probably have different requirements than that “do-it-yourself” will template you found online. Also, an estate lawyer can help you avoid mistakes, advise you of alternatives and help you create a Last Will and Testament that will ensure your last directives can be followed.
Estate planning allows you to arrange for the distribution of your accumulated wealth after your death to ensure that your heirs receive the assets YOU decide they should be given. If you die without making these plans, your heirs will go through the probate process which takes time and will reduce the value of your overall estate because of taxes and other expenses associated with the probate process.
Estate planning may be simple and straightforward, or more complex, depending upon your own financial situation and the types of assets in your estate. However, the key to your estate is the PLAN. It is important to speak with an estate planning attorney to assure that your assets are divided per your wishes at your death. Call today to speak with one of our estate planning attorneys since the best time to plan now.