Most people are familiar with what wills are, and have seen movies or shows that portray the distribution of items left to individuals in a will after the testator (owner) passes away. Even the ever-popular Harry Potter series includes Harry and his friends being left items from Dumbledore’s will. Still, the thought of creating a will can seem daunting, and many people shy away from what they perceive as being a lot of uncomfortable work. What they don’t realize is that a simple will, as opposed to a complex will, can be just what they need to get started and to provide a clear direction should the need arise.
A simple will is ideal if you are under the age of 50 and have not acquired many assets or if your assets would not be subject to estate taxes. We can help you determine if this is so.
A simple will generally states who the majority of your property will pass to, and who should receive guardianship rights of your children until they come of age. This type of will is also good for those who have minor assets, and who do not have children from previous marriages. When the majority or all of your assets are being left to one person, or are to be distributed equally among parties, and when you do not think your will is going to be contested due to lack of mental competency, a simple will is a good option for you.
If you plan on creating any trusts, have a large estate, or accumulated assets and wealth, or are leaving varying amounts and percentages of your estate to a list of individuals, a complex will would be more appropriate.
If you live in Concord, NC& need help planning for the welfare of your children or elder loved ones, turn to us at The Law Office of Marjorie J. Brown, PCElder Law & Estate Planning Solutions of the Piedmont
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