Death does not come announced, and it is never easy to deal with. Even if people are prepared for it, they still find that it catches them off-guard in a number of situations. If you have loved ones and assets, then you will want to be prepared by planning your estate in advance with a solicitor that you can trust. Wills, trusts, power-of attorney documents and other matters should be discussed in the consultation, and the solicitor will let you know what is required for your particular situation.
Stay Protected with a Last Will and Testament
Writing a will is one of the most important things you can do to protect your family in the event that you pass away. Your family will already be in mourning, so you won’t want them to have the added burden of fighting off selfish relatives who are after part of your estate. If you have a will signed, then your wishes will be carried out exactly as they are written, and you can have peace of mind in knowing that your family will be ok once you are gone. A good family solicitors will advise you as to what options are available, but you will make the ultimate decision as to how your estate will be distributed. They are there to answer questions and to guide you along the way.
Establishing a Trust in Addition to Your Will
Distant relatives can get vicious if someone dies and they think there is a lot of money involved. Hiring a good estate solicitor can prevent this hassle. If you don’t make a will, then your property could be divided in ways that you don’t want, so you need to be responsible by getting a will made as soon as possible. Death does not discriminate as to age, colour, or creed, so even if you are young it is important that you get a will done. If your children are young, then you might consider establishing a trust as well. Trusts have various stipulations from one to the next, so your attorney will advise you as to what you are able to do. Many people stipulate that their children will only inherit money once they reach a certain age. This is probably a good idea, because children aren’t always mature enough to handle large sums of money in their younger years. Having a trust will prevent them from getting the money until they are adults. People that are concerned about this usually designate inheritance dates for when their children reach 25 to 30 years of age.