We Can Help You Create A Will
If you are considering creating an estate plan to pass on your assets, you might have numerous questions about the process, the costs and the legal nuances involved. For many people, the temptation is to cut corners and save a few bucks by using a free online will form. However, this is a bad idea. The main point of creating a comprehensive estate plan is to know that your assets will be transferred effectively when you pass on. When you use a do-it-yourself form, you can never be sure that the document will be legally effective or will actually transfer your assets in the intended way.
At The Siegel Law Firm, P.A., we can take the anxiety and confusion out of the process. Our family-operated law firm brings more than 50 combined years of experience to the practice of law. We help clients in Jupiter and throughout southern Florida create comprehensive estate plans that include wills and other essential documents. We are here to help you.
Common Types Of Wills
There is not one type of will that works for everyone. In fact, there are numerous types of wills for different situations, including:
- Simple wills: A simple is, as the name suggests, simple. It basically states your intention, lists the assets you want to transfer, names the people to receive those assets and names someone to execute the instructions of the will. A simple will is ideal for someone without complex holdings or significant assets. Although simple, it is a perfectly acceptable and effective estate planning instrument, as long as it is created properly.
- Joint wills: A joint will is like a simple will, except it is created by two people (or more). Rather than two spouses each creating a single will, for example, they can create a joint will together in which they transfer their assets in a coordinated, unified way. This is a great choice for many married couples who share all their assets and who are in agreement of how to distribute these assets.
- Testamentary trust/will: A trust is a legal tool that transfers assets differently than a will. A will usually involves a simple transfer. The money goes to the person receiving it. In contrast, when a trust is created, the money would go into that trust, and a trustee (who is named as part of the trust) distributes the money to the beneficiary according to the instructions of the trust. A testamentary trust is one that is created as part of a will.
- Living wills: A living will focuses on your end-of-life health care wishes. If you are ever in a situation where you are unable to understand your options for medical care or communicate your wishes, it will be a tremendous gift for your family to be able to see, in writing, what you want to do in any given medical situation.
These are some of the common will options. Each has its own benefits and limitations. It is critical to talk with an experienced attorney from our firm who can explain your options and help you through the process.