Planning for the financial status of your spouse or other family members after you have died is not an easy concept. But you want to provide the best financial plan for them which does not have any uncertainty. Those that do not setup instructions which can be identified may cause disagreements among the beneficiaries of your estate. Doing nothing is even worse as the government can hold up the assets in court for years with the bulk of the estate paying for attorney and tax fees.
You can prevent this action from occurring. The first step is to contact a knowledgeable person that you trust. They will get access to all of your personal information and be responsible for carrying out your wishes. This will also need to be documented and recorded. Copies should be provided and kept in a safe location.
Every assets that you own needs to be included. If anything is left out it can create chaos. You will want clear, precise instruction for your assets. Wills are the perfect tool for relaying your desires. Each person will need to be listed in the paperwork with the particular asset or assets that you wish them to receive. You can also create stipulations within the instructions.
Trusts and Estates in Carson CA can eliminate excess taxation. History has shown that those who do not have this setup will provide additional income to the government. The court system will need to review all the finances, and may even require that any non liquid assets be sold to recoup any fees. Courts can delay payment and prevent your heirs from receiving what you have left for years.
Another reason to have a trust is to prevent your instructions from being contested. Family members can get emotional over certain items. If you decide to leave anything to a charity or non family member it can create arguments between your relatives. In order to have an iron clad document you need to get a legal representative. They can also provide you with witnesses to your requests, and attest to your state of mind so that it can not be overthrown.
David J. Workman has legal knowledge to provide all aspects of estate planning and handling legal procedures necessary for the preparation of wills, trusts and other estate planning needs.