Wills & Estate Planning
Last Will and Testament
Should every adult have a Will – Simple Answer – YES!
For the young adult, it is an expression to your family or loved ones that dictates what to do with your property and assets. For the middle-aged, it allows for the reasonable descent and distribution of your assets to protect your spouse and children or other important people or causes in your life. For the elderly, it is the best way to leave gifts to children, grandchildren, charitable causes, or important social or religious groups. For everyone, it is the way for you to make sure that your property goes where you want it to go, with minimal cost and inconvenience and tax consequences. Your property ends up with the person, people or places you decide it belongs.
Your Will is your present expression of your wishes. No-one can predict the future with certainty; but by planning ahead and then remaining flexible as your life changes, you can reduce worries and stress about your family’s future. Since a Will takes effect only upon death, it may be changed as often and whenever you wish; subject to certain formalities. If your circumstances change or you change your mind about how your assets should be disbursed, you can change your Will with little difficulty. Marriage, birth of a child, divorce, change in financial circumstances for you or a family member, changes in tax laws, or simply a change of mind – are times when it may be appropriate for you to update or change your Will. A little planning goes a long way to helping you and your loved ones relax about the future and to be prepared when the time comes.
If someone passes without a Will, their property will go according to the Laws where the person resides at the time of their death. This may result in in-equality or un-fairness; or more importantly, your assets may end up with someone other than you intended, and they may be subject to un-necessary probate proceedings and inheritance or estate taxes. Live every day as if there is no tomorrow or as if there are ten thousand tomorrows. But don’t wait until it is too late to plan for your family’s future.
At Wacks & McHale PC we are experienced, knowledgeable and sensitive to the difficult issues and questions that may arise in preparing for the future. We will work with you to make sure you understand your options, how to accomplish your goals and how to protect your loved ones and family members as you think best. There is no right or wrong way to decide how your property and assets will be gifted or disbursed. Every family is different and each person who prepares a Will is different. We will help you to understand the choices available and how to get your assets where you want them.
The value of planning for the future cannot be underestimated. Contact us today to discuss your options. There is no charge for the initial consultation and we will carefully explain what we think is best to help you attain your goals, and what the legal cost to get there will be. The cost may be less than you think. Please call us at your convenience or send us an email through this site. We look forward to hearing from you and discussing your future planning with you.