[1].2102220938550.jpg)
The Complexities of Creating a Will
Many websites out there have do-it-yourself will and estate planning tools. While it may seem like this is an easy and inexpensive way to prepare for your future and organize your affairs, it could leave room for too many mistakes. When creating a will, you want to ensure that your estate and the assets attached to it are protected. Here are the most common mistakes you may encounter when making your own will.
Not Understanding the Laws in Your State
Every state has different inheritance laws, so creating a will without understanding how it will be affected by the laws can derail your intended wishes. For example, Florida does not have inheritance taxes or estate taxes, but that doesn’t mean that other aspects of your estate are not subject to tax consequences.
Naming the Wrong Person as Executor
When choosing an executor of your estate, you want to ensure that they are up for the task. An executor has a big responsibility, such as ensuring that remaining debts from the estate are paid and assets distributed appropriately to your beneficiaries. Before choosing an executor, speak to them first so they are fully aware of all the responsibilities involved.
Failing to Include Important Assets
Creating a will is more than just a quick execution. It’s critical to cover all essential assets appropriately distributed after your death. Forgetting to include certain assets, no matter how minor, can cause disputes later on. If you want your niece to have your grandmother’s vanity, be sure to have that included in your will. Failing to include any assets that are important to you and your heirs can be subjected to state rules in asset distribution.
Not Hiring an Estate Planning Lawyer
An experienced estate planning attorney can help you avoid any mistakes when it comes to creating your will. Protect your assets and ensure your wishes are carried out in the event of your death. Having a properly executed will and last testament can avoid problems and disputes between your heirs.
Need Help Preparing a Will? Owenby Law, P.A. Can Help.
Ensuring your will is executed according to your wishes is vital. That’s why having an experienced estate planning attorney to help you craft your will can make all the difference. Creating a will can be tricky, and attempting to do it yourself can leave many loose ends and costly mistakes.
If you are ready to get started on your will or living trust, we are prepared to help. Our experienced Jacksonville estate planning attorneys will guide you through the process and ensure you have all your wishes for you and your family covered.
Contact Owenby Law, P.A. today at (904) 770-3141 to schedule a free initial consultation with our team.