Will Lawyer Fort Collins, CO
If you want to establish a will, you should talk to William B. Moore, a will lawyer in Fort Collins, CO. A skilled lawyer can help you create a valid will in a timely manner and give you peace of mind.
Common Mistakes to Avoid When Creating a Will
No matter what your age and financial situation, it’s important to have a proper will in place. It will ensure your final wishes are carried out and that your family members are taken care of. Here are some common mistakes you should avoid when writing your will:
- Neglecting to Discuss Your Plans with Your Family: It’s a good idea to talk about the details of your will with your family members early on. This way, there won’t be any surprises and fewer conflicts will arise. For example, if you plan to give one child a bigger inheritance because he or she isn’t as financially secure as the other, explain your decision to your family.
- Forgetting About Your Pet: When creating your will, remember to include your furry family member in it. After all, you want your pet to be taken care of if you should die suddenly. Specify who you want to take your pet and instructions on how to care for it. You may also want to include a pet trust to fund your furry family member’s care.
- Leaving Out Certain Assets: Another common mistake people make is not including certain assets in a will. If you don’t include all of your assets in your will, they become subject to state rules. Even smaller items, like photos albums and family heirlooms, should be included in your estate planning documents.
- Selecting the Wrong Executor: The executor of your will is responsible for paying your remaining debts and distributing assets to your heirs. It’s a big responsibility and shouldn’t be given to just anyone. The person you choose to take on this role should be trustworthy, impartial, organized and financially savvy.
- Not Updating Your Will: One of the biggest mistakes you can make with your will is not updating it when necessary. When you experience a big life change, such as the birth of a child or divorce, you need to revisit your will again. Otherwise, it can create issues after you’re gone.
If you need assistance with your will, schedule a free consultation with William B. Moore, a will lawyer in Fort Collins, CO. We offer consultations after regular business and by Zoom hours to make it convenient for you.
COMMON MISTAKES TO AVOID WHEN CREATING A WILL INFOGRAPHIC
Why You Should Hire a Lawyer for Your Will
If you are thinking about drafting a will, you might wonder if you should go the DIY route or work with an experienced estate planning lawyer. While you may be able to save money by creating a will yourself, it can lead to more headaches and frustrations down the road. Here are a few good reasons to hire a skilled will lawyer.
- Make sure your assets are distributed to the right people. In your will, you can designate who you want to receive your property after you die. An experienced will lawyer knows how to properly draft a will so that your assets go to the right heirs. This can reduce the risk of someone contesting your will in the future.
- Save time. Although there are many online resources for creating a will, drafting this document can be quite complex. If you have a full-time job, you may not realistically have the time to draft a solid will. That’s why a will lawyer is here for. Your lawyer can just ask you several key questions and then draft the will in a timely fashion.
- Prevent mistakes. When drafting a will, it can be easy to overlook something and make a mistake. For example, you may accidentally leave out assets or forget to name a guardian for your children. A lawyer can ensure that you don’t overlook anything in your will.
- Update your will. Creating a will is often not a one-time event. Most people have to update their will multiple times in their lifetime. When circumstances in your life change, it may be necessary to take another look at your will. For instance, if you get divorced or remarried, you might want to consult your lawyer.
- Ensure your will adheres to your state’s laws. Estate planning laws vary from state to state and are constantly changing. If your will doesn’t comply with the current laws in your state, a judge may consider the document invalid. An experienced estate planning lawyer has extensive knowledge about the estate laws in your state and can make sure that your will adheres to these laws.
- Provide helpful legal advice. A will lawyer can also give you suggestions on how to improve your will. For example, if you believe that there will be conflict within your family over your will, your lawyer may advise you appoint a third-party, like a financial planner, as your executor.
What happens to my property If I die without a will?
As a will lawyer Fort Collins, CO residents can confirm, if you die without a proper will in place, your assets will typically go to your spouse and children. If you do not have a spouse or children at the time of your death, close relatives, like parents and siblings, may be next in line to inherit your property. If no family members can be found, the state will get your property.
Can I name a guardian for my children in my will?
Absolutely. If you have minor children, you definitely want to have someone you trust looking after them should you die suddenly. This will give you peace of mind. Ideally, the guardian you choose should be responsible, compassionate, financially sound, trustworthy and in relatively good health. Try to name at least one alternative guardian in case your first choice can’t fulfill the duty for whatever reason.
Can someone contest my will?
Yes, there is always a possibility. A will is typically contested when a family member does not believe that he or she is getting a fair share. However in order to get a will invalidated, there must be a major flaw in the document, such a forged signature or that you were unduly influenced by someone else.
Do I need a lawyer?
Although you are not technically required by law to work with a Fort Collins will lawyer, it is in your best interest to do so. Wills are complex legal documents that may contain terminology you do not understand. You do not want to make a simple mistake that could render your will invalid. An experienced lawyer can help you draft a valid will that has clear language.
Do I ever have to update my will?
Yes, most likely. Too many people establish a will and never give it another look. However, it’s wise to take another look at your will every time you experience a major life change, like the birth of a child or divorce. If you fail to make updates when necessary, your will might not reflect your current wishes anymore.
What is an executor?
An executor is the person who pays your remaining debts, protects your assets and makes sure that your assets are distributed to the right people. It is a big responsibility, so you want to make sure that you select the right person for the job. Ideally, your executor should be organized, trustworthy, communicative, impartial and financially savvy. He or she should also live in your state and have the time to take on the role.
Should I include burial instructions in my will?
Yes, but you may also want to talk to your family about your burial wishes in person. When people are grieving the loss of a loved one, they might not think to look at a will for burial instructions.
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