WILLS
WILLS
Helping Clients Protect Their Legacy
You’ve spent a long time amassing your assets and your estate. But when it comes to end-of-life planning, many family members become overwhelmed with emotions that can make it difficult to divide estates evenly. By creating a will, you can ensure that your final wishes are made known and that your assets are protected even after your death.
While it may be tempting to create a will on your own without a lawyer, wills must be legal and written lawfully to be enforced. If anyone contests the will, it could delay your beneficiaries from getting their rightful assets, property, and money. Consulting with a team of wills lawyers is the best way to draft a will that protects your estate while also setting up your family members for the future.
At Legacy Law Partners, PLLC, we have years of experience providing clients with essential estate planning services. No matter how old you are, creating a will is the best way to protect your assets and the future of your family members.
What is a Last Will and Testament?
- Establish guardianship for minor children
- Provide instructions regarding asset and property division
- Name beneficiaries
- Establish guardianship for special needs relatives or dependents with disabilities
What is Estate Planning?
An estate plan is a set of documents that lays out your exact wishes for your estate. In most estate plans, individuals will name beneficiaries who will receive certain assets, property, bank accounts, or investments. Estate plans are essential because without one, your final wishes may not be honored, and the state may divide up your assets however they see fit.
While a will is an essential part of estate planning, other documents like trusts and powers of attorney can also be beneficial in reducing your tax liability and protecting your assets. Although many wrongly assume that estate planning services are only for the extremely wealthy, that is not the case. Anyone who has dependents or assets of any kind could benefit from an estate plan.
What Happens if You Die Without a Will?
An individual who dies without a will is called “intestate.” This term means that in the absence of a will, the state of Connecticut will decide how to divide their estate. In most cases, the surviving spouse inherits everything from an estate as long as there are no dependents or children of the deceased individual to claim rights. However, if the individual does have descendants, the spouse will get $100,000 of the estate and half of the balance while the descendants inherit the rest. The deceased’s parents may also get a percentage of the estate if they are still alive.
If the deceased individual had no spouse, descendants, or parents, the estate would be given to siblings, grandparents, or other relatives. The closer the relative is to the deceased, the higher they are prioritized for an inheritance. In many cases, dying without a will can be detrimental to your estate and could result in your assets being distributed without considering your wishes. To avoid letting the state make decisions on your behalf, consult with a team of wills lawyers today and draft a legal will to make your wishes known.
Can a Will be Changed or Revoked?
If you already have a will, you can change it at any time with the assistance of a team of wills lawyers. A lawyer on our team can submit a codicil, which is an addition or an amendment to a will that must be executed with the same formalities as a will. Our team can also submit an entirely new will on your behalf if you wish to change every aspect of the document.
If you want to revoke your will at any time, you can do so by destroying the will. Under Connecticut law, this means tearing, obliterating, or burning the will. This can be done by the individual who created the will or by a team of wills lawyers. If you do revoke your will, be sure to create a new one as soon as possible to keep your estate safe.
