Wills

Avon Will Attorneys

Are You Having Trouble Understanding Wills?

The duality of wills is often who is reading them. On the one hand, creating a will forces a person to face their own mortality while envisioning a future for their family without them and making important decisions to care for them. On the other hand, losing a loved one and having their will read to you means you have just suffered a loss that has likely changed your life.

In both circumstances, whether creating your will or deciphering the will of a lost loved one, you will likely have questions and concerns. Working with a probate lawyer can help you understand the probate process, which we will go over later. Working with an estate planning lawyer can help you understand how to create a will that benefits your loved ones and helps them honor your final wishes.

Read more about wills and how they can be interpreted. If you need immediate help, please call 440-530-9166 to speak with a compassionate estate planning attorney at Hallett Legal Group, LLC.

Are Wills Part of the Estate Planning Process?

When you start planning how your estate will be handled in your absence, you usually start with the intent to take care of your family once you are gone. This can be an emotionally taxing process as you take inventory of your life’s hard work and imagine how it will best help your family.

Estate planning is the process of preparing for the management and distribution of your assets and responsibilities after your death or incapacitation. Estate planning often involves creating legal documents like wills, trusts, and other instructions for how you would like your estate handled.

Creating your will is one of the most important parts of estate planning.

What Should Your Will Include?

Since a will is a legal document, there are certain elements it should contain in order to be legitimate. A will is used as the guideline to settle your debts, pay taxes on your estate, and then distribute the remainder to your family or other loved ones as specified.

If you are struggling to create your will, speaking with a wills lawyer can help you understand the process and ensure your will will stand up in probate court.

First, here are a few legal definitions that you should understand:

  • Testator- when you create a will, you are the testator of the will. A testator is also a deceased person who has left a legally valid will. As the testator, you must be of sound mind when creating your will.
  • Executor- This is the administrator of your will. They are in charge of executing the will, paying debts owed by the estate, paying taxes on the estate, and distributing the assets.
  • Beneficiary- the beneficiary or beneficiaries of your will are the people who will receive property and assets from your estate.
  • Witnesses- In Ohio, you must have at least two witnesses who do not stand to gain anything from your estate and who observe the signing of your will. They must be at least 18 years of age and understand that the testator, you, is signing a will.
  • Guardianship- This is a legal provision that allows you to designate a trusted adult who will care for your minor children should you become incapacitated or pass away.

Here are the elements your will must contain to be legitimate:

  • Nominate an executor, who will be tasked with the administration of your will. You should also name a successor executor if your primary executor is unable to do so.
  • Nominate a guardian and a backup guardian for any minor children or dependents.
  • Your will should describe any donations or gifts you would like made from your estate.
  • Name your beneficiaries.
  • If desired, your will should include specific instructions on how you would like your personal property and family heirlooms distributed.
  • Modern wills should also include how you would like your personal social media accounts managed.
  • If you intend to disinherit a child or spouse, which means they are to receive nothing from your estate, your will must say so. Failing to mention that you would like them disinherited can leave room for legal disputes when the disinherited individual claims they were left out as an oversight or by accident.

What Should NOT Be Included in Your Will?

There are many things you can include in your will and some things you must include in your will. However, there are also a few things you should avoid including in your will. When included in your will, these things may create legal conflict with your estate plan.

Personal wishes and desires—Your will is often read after your funeral. This means that your personal wishes regarding your funeral or other arrangements regarding how your funeral is handled should not be included in your will. There are ways to give these instructions that will ensure they are read in time and followed, such as a letter of instruction.  This informal document can be used by your family to follow your wishes after you pass.

Inheritance for a Special Needs Beneficiary—It is natural that you would wish to take care of any loved ones with special needs. Your assets could be a huge boon for family members or friends who have special needs, but you should make sure your thoughtful gesture will not impact any government benefits that they are receiving. Your gift to them could be enough to impact their financial eligibility for government help, such as healthcare, disability, and food assistance. Instead of including them in your will, you could instead create a special needs trust, a trust you can arrange to support your loved ones without impacting their government aid.

Business Interests— You are allowed to will your business away, giving it to a beneficiary in your will. The issue with willing your business away is that your will will need to go through probate, an often long and complicated legal process. This can cause an upset in your business after you pass because the succession will not be seamless; your beneficiary will have to wait for probate to conclude before they can legally take on the role as the new owner of your business. Another issue with including your business matters in your will is that the will could be contested, causing probate issues and, even worse, could result in your business not being passed to the person you intended it to.

Certain Types of Property— There are certain properties you should not include in your will for one reason or another. While you ultimately have control of what you include in your will, sometimes leaving certain property out of your will can actually benefit your loved ones more than including everything.

Property in a Trust

A trust is a separate agreement that is not subject to probate. It is an alternative way to distribute your assets. A trust can expedite the probate process as trusts are not subject to probate. This can also help protect the privacy of your beneficiaries. Do not include property in your will that is already being managed by a trust.

Assets You Wish to Leave to a Pet

Everyone has heard stories of people leaving part or even all of their estate to their pets. The issue is that your pets do not have legal rights to claim property, and it may be deemed not legally enforceable. Should you decide to leave any property or assets to your pet, you should instead create a “pet trust”  and leave property to trustee who will be legally required to care for your pets after you pass.

Should Your Use “Do It Yourself” Services?

Many generations pride themselves on doing the necessary stuff alone. There are many services online that allow you to create your own will without working with an experienced wills lawyer. While these sites are convenient, and your will may be comprehended the way you intend, these DIY sites often overlook important details that are different for each person.

When taking on the task of estate planning, it is best to do so with an attorney who understands your unique needs. Someone you can ask specific questions and get answers tailored to your situation. Call 440-530-9166 to speak with a compassionate estate planning lawyer with Hallett Legal Group, LLC. Our team of legal professionals can help make sure you don’t receive the “one-size-fits-all” treatment!

When Should You Start Estate Planning?

It is easy to think that estate planning isn’t for everyone. Only wealthy, ill, or elderly people should plan for what happens to their estate, right?

The fact of the matter is that death is unpredictable, and everyone should have a say in what happens to their estate after they pass. Anyone over 18 can benefit from estate planning. You should have a say over your estate administration and funeral arrangements. An advance directive can make it easier for your family to manage your health should you become incapacitated. Doing this can make things easier for your family and other loved ones who would be impacted by potential problems arising from your passing.

How Should You Start?

After searching how to make a will or planning your estate, you may feel at a loss. You want a will that stands up in court and benefits your loved ones, but you don’t want to mess up and make things harder for your family.

The best way to start this process is to schedule a free consultation with an estate planning lawyer who understands the law. The office of Hallett Legal Group, LLC can assist with your unique needs. Call 440-530-9166 to schedule a consultation. We can meet in person, or you can ask your important questions over the phone, and we also offer virtual appointments.