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2 Important Types Of Wills A Will Attorney Can Help You Draft
There are so many different types of documents that can be created when talking about estate planning: last will and testament, living will, living trust, irrevocable trust, medical and financial powers of attorney, just to name a few.
While a will lawyer can help you draft every single one of those, today we are just going to focus on the two major types of wills a will attorney can help you with and what they are used for.
Last Will and Testament
Often times when people want to get a “will” drafted, they have a last will and testament in mind. It’s common in movie scenes that depict someone’s passing for the family to gather for a “reading of the will” to hear the last wishes of the deceased and learn what they are inheriting.
While this isn’t what the process actually looks like after someone has passed away in real life, the spirit of this type of scene is similar.
A last will and testament is one of the most common estate planning tools because of its simplicity. Having a will in place allows you to protect your family and ensure that your assets are distributed to the right people when you pass away.
A last will and testament only comes into effect when you die, which means it can’t be used to protect you and your family if you become incapacitated. If this is a concern of yours, you may want to speak to a will lawyer about drafting a living trust instead of a last will and testament.
A last will allows you to specify who should receive your home, property, money, and assets after you pass.
You can specify who should receive what, and how much they should receive.
It lets you name a guardian and conservator for your children if they are under 18.
You can name someone you trust as your personal representative to make sure that your estate gets administered and distributed to your heirs properly.
If you die without this type of will in place, the state will determine who should receive your money and property without any of your input. This scenario could be less than ideal if you have family members you know you would not want to receive any of your money or property.
At a minimum, everyone should have a will in place to make sure what they leave behind goes to the right people.
A living will is very different from a last will. It lets you define your end of life medical decisions in the event you are incapacitated and unable to communicate your wishes yourself. Think of this type of will as a formal letter to your family listing your final medical wishes telling them how you would want to be taken care of.
Your living will outlines the types of medical treatment you would or would not want in certain situations. Having a living will in place takes a lot of pressure off of your family because they know that they are acting according to your wishes.
While a will attorney can help you draft a variety of different estate planning documents, two important ones we covered in this article are the last will and testament and a living will. A last will make sure that your assets are passed on to your loved ones the way you intended.
A living will gives instructions to your family members about what type of medical treatments you would want if you became incapacitated and couldn’t communicate. Both documents are incredibly important, and you should consider adding them to your estate plan. If you are interested in getting these documents drafted, contact a will Attorney for an initial consultation.
Author can be reached through rochesterlawcenter.com
Jim Turner is a USA based author of Legal issues related to estate planning, will & trust , business law and elder law .Jim Turner does his best writing on these topics that helps users to find the best solutions to their FAQ on estate planning , probate , living trust. Jim Turner also writes for Michigan families and businesses secure their futures in all matters of Wills, Trusts, Estate Planning, and Business Formation and was the estate plan Consultant for the several estate planning firm in Michigan. Rochester Law Center
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