What is a Will?
A will dictates how to manage and distribute your estate, both real and personal property, and only takes effect after your death. Prior to your death, any will you create is revocable and can be rewritten if you need to make changes. The last will you create needs to be clear and your family needs to know where the will is located. Any additional written statements made that resemble a will confuse things and may cause problems when closing your estate.
A will not executed properly, or one that does not account for every feasible scenario, may be contested—which further extends the process for closing your estate and causes problems for your family. If you do not have a will or your will is not created properly and is declared invalid, your estate will be distributed according to the laws of the state where you reside.
Why Should I Choose Stone Law to Create my Will?
When you go online and find a template to create a will, you are using a generic form that may not be specific to Colorado laws. As with any service, when it comes to estate planning and drafting your will, you get what you pay for. The generic wills you find on the Internet don’t provide Stone Law’s expertise and therefore do not ensure your specific wishes will be met. Using a generic form may mean that when you pass away, your affairs may not be handled the way you intended or there may be unexpected taxes or fees when your family closes your estate. Anything could go wrong without the guidance of an experienced estate planning attorney to guide you through the process.
Do I Really Need a Will?
Having a will as part of your estate planning allows you to choose your heir(s); if you don’t have a will, this decision will be left to the State or the court. Having a will also allows you to choose a trusted person to serve as a personal representative (executor) of your estate. This is an important position, as the person you choose is the one who distributes the property of your estate to beneficiaries and protects their interests. Without a will, this falls to a court-appointed stranger. Wills also allow for selecting a guardian to raise young children in the event of your death. These are very personal decisions, but making them and having them in a will provides you with peace of mind.
Complete Estate Planning
Stone Law can help you add more detail to your estate planning with the proper trust documents, powers of attorney, and any needed asset protection or business planning. There are many ways we can help preserve your assets for future generations. Contact us today so we can sit down with you and work together to figure out what works best for you and your family.