Common questions about having your will created
Everyone should have a will. No matter if you are just starting a family or in your golden years. Unfortunately, having a will created is one of those tasks that quite a few people put off. If you are ready to break this cycle of procrastination and have decided that it is time to have your own will preparation Montreal, then you will likely have some questions about the process. Some of the most common questions that are asked can be found here.
Why is a will even necessary?
If you have children, money or any other type of asset, having a will created is essential. If you fail to do this, you may find that all you have is just going to be divided up when you pass according to the laws in your area. This may even result in your assets and young children being given to someone other than your spouse or other family member.
Can you create your own will?
While there are options out there for you to create your own will, it is usually a good idea to contact a professional. These individuals understand the process of creating the will and how to handle making changes in the future and any other issue you may encounter.
Is more than a will needed?
If you talk with a professional in the wills industry you will quickly discover that they recommend that you put in place a number of other documents that will allow someone else to make decisions for you if you ever become incapacitated. Things such as a medical wishes can be outlined in a living will or directive that describes the type of treatment that you do or do not want.
Should you have revocable trust created?
One of the biggest reasons that people create a revocable trust is to be able to avoid probate, which is the court supervised process that is used for settling a dead person’s estate. These documents can be invaluable in some situations and something you should discuss with the person who is helping you with your end of life planning.
Are there any other methods to use for avoiding probate?
For some people, creating a revocable trust is a completely unnecessary expense. The fact is that as long as you name a beneficiary, the majority of your assets will completely avoid probate.
Consider your needs and what you want at the end of your life when talking with the professionals in the wills industry. This will help you to ensure that all bases are covered.