6 Hours Ago Wills & Trusts Are Easy

Are you considering a will or trust? If so, you should be aware that even though you can draft your own durable power of attorney form, it is typically invalidated if you fail to take care of some important details. First, you must establish your identity. Next, you must list the specific purpose for which you want the document created. You should consult a qualified wills-and trusts lawyer if you are unsure about these details.

 

Drafting your Will/Trust Before you start the process of creating your document you need to determine if it is possible to execute it without any outside assistance. Some people mistakenly think that they can draft their own will and have it stand up in a court of law without legal help. This is often not true. It is important for you to work closely alongside an attorney who is skilled in planning and writing wills. During the drafting process, you may be asked questions about specific items that should be clarified.

Avoid inconsistent sentences Avoid words like “deed-of-trust” and “school property.” Writing a trust or will that reflects your specific intent can be easy with the help of an attorney. A codicil can be added to a will or trust.

Inconsistent Sentences A court might consider this unfair transfer of assets if you intend to provide for your dependent daughter through the distribution of her personal property (her estate) in her name. A court may also find it difficult to see language in your will that describes the trustee as a necessary contingency to your distribution of estate asset assets. This could result in an improper distribution of assets to your beneficiary.

Inconsistent Sentence Types Another problem with many lawyers when preparing a Will is that they have very little training in sentence structure. This means that when preparing your Will, it is important that you have your lawyers review the wording you use carefully, including all punctuation and any possible future interpretation of statutory terms such as “life estate,” “intestate probate,” and “last will and testament.” These are only a few of many standard sentences most people will include when preparing their Wills. A skilled lawyer can help you avoid the pitfalls associated with phrases such as “inheritance,” or “personation.”

Inconsistent Legal Terminology. As we have seen, many people will simply trust their business affairs, or to a Will that just includes a testament. They don’t take the time to research various tax, estate and gift laws. The IRS and state taxation agencies will also take a look at the contents of a Will, as they consider it a valuable record of your life history. You should consult a qualified life estate lawyer or will lawyer to review your document. In addition, there are many experts on the internet who can assist with filling out the forms for a will or creating a customized legal plan to fit your particular needs.

Inconsistent Trustee information When a friend or relative dies, there is often confusion over who the beneficiary will become and what the estate plan should include. The IRS has updated the laws regarding who beneficiaries and how they should be defined in recent years. Many estate planning attorneys can assist with this, as well as lawyers who specialize on probate (the administration of estates that pass from one generation into the next). Estate planners are also available to help with the filling of the necessary forms to establish a Trust. This can be done from the comfort of your home, and is often cheaper than making a trip to a law office to make changes in your Will.

Inconsistent Sentence Structure When someone dies, there can be a wide range of confusion about which assets should be transferred and who should be named as administrator, among other things. An experienced lawyer can review all of these issues to provide legal guidance. Your attorney should amend the Will if it mentions any names or authorities that are not found in a traditional Will. He or she should also ensure that the sentence construction, dateline and page numbering accurately reflect the meaning of the document.

 

Tags: