Every person should create an estate plan at some point in their life, as it ensures their assets and loved ones are protected in the event of their death. Part of doing this often includes writing a will. This allows a person to designate what they wish to happen to their belongings if they die or become incapacitated. During this time, it can be beneficial to retain the services of an experienced New York estate planning attorney for guidance.
How do I Start a Will?
When a person is ready to write a will, the first thing they must do is decide who will draft the document. Generally, it is in a person’s best interest to have an attorney do so. This is so that they know the process was done correctly and no mistakes were made. However, if they wish to write a will on their own, there are several kits available to do so. While this is true, it is important to know that this can result in a variety of potential legal pitfalls. Simply misphrasing something can result in errors that make a document invalid.
It is also important to choose an executor carefully. This is an individual who is given the job of administering the estate plan after the creator’s death. They should be trusted to follow the last wishes of the person and act in their best interest. In many cases, people appoint their spouses or children.
What is a Guardian?
Parents who have children under the age of 18 may wish to include protections for their children within a will. This can be done by appointing a legal guardian in the event of their death or incapacitation. Without this, it can be up to the court to appoint a person as guardian that the parents may not have wanted. In order to ensure what is best for children, parents should choose a guardian on their own instead of letting the court to do so for them.
What is a Trustee?
Simply put, a trustee is a person who is appointed to take care of the finances within a trust on behalf of a beneficiary that is underage. This person is given the right to manage investments, money, and property until a beneficiary of the trust reaches the proper age to do so themselves.
Contact our Firm
The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.