It is never too late or true early to have an estate plan. When it comes to estate planning, there are many documents and aspects to be considered, of which a will is the most basic one. No matter your personal knowledge, it is always wise to consult an experienced lawyer for estate planning. In San Antonio, you can check for services like Weisinger Law Firm, which specialize in personalized estate planning services. There are a few things that can or cannot be included in a will. Here is a quick list for your help.
What you can
- Share your last wishes. If you are drafting a will, you have the right to decide how you want your funeral arrangements to be done. It is also in your best interests that you leave some money aside for burial and funeral arrangements, so that your family doesn’t feel overwhelmed in a moment of grief.
- Name an executor. You also have the choice to name the estate executor in your will. The role of an executor is to fill all the necessary probate forms, handle payments and taxes, notify beneficiaries, and identify assets, among other things. It is always wise to have an estate planning attorney as an executor, because their knowledge of laws can be handy.
- Choose beneficiaries. You have the right to choose beneficiaries for your assets, money and property through your will, and this gives you complete control on how your estate is handled after you are gone.
- Mention guardian for minors. If you have a minor child, protecting their rights should be your immediate concern. Parents have the choice to decide and name a guardian for children.
What you cannot
- Use a will for overall estate planning. The will only comes into effect once a person has died. In other words, will is not the ultimate document with estate planning. Other important documents to consider include a power of attorney.
- Use will to avoid probate. Probate, which is the legal process of proving and accepting a will, is mandatory. You cannot use a will to avoid the same, but there are other options like setting up a trust.
- Use will for assets. You cannot use the will for all assets. For instance, if the asset is held by a trust, the same cannot be included in a will.
Talk to an estate planning service to know more on the dos and don’ts related to drafting a will.