A will is key to ensure peace of mind about your family's futureSET UP A FREE CONSULTATION
*(The free consultation does not cover actual review of documents or giving legal advice on a specific situation.)
A Will is a legal document spelling out who you want to receive your assets upon death, who will administer your estate, and special provisions your children's care or loved ones with special needs.
If you lack a will when you die, state law will govern all of these issues and the provisions may not reflect your wishes.
Why Do You Need A Will?
Adair M. Bucker understands nobody likes to think about their mortality. Planning your will can be emotionally taxing. However, a Will is essential no matter your age, financial situation or health.
Having a Will in place at the time of your death can provide your family savings of:
- Family conflicts
There’s enough grief already when a loved one passes. Failing to have your wishes defined at your death only deepens the grief while your family deals with unresolved legal issues.
If there is no Will, a court-supervised administration of your estate may be needed to distribute it to your legal heirs. This is a very expensive and complicated procedure. A Will may require probate to become effective, but that expense will be far less than dying without a Will (intestate).
Why Are Wills Important For Your Children’s Future & Well-Being?
Your children mean everything to you. Don’t you want their future to be secure? Adair Buckner takes special care when preparing Wills and estate planning documents to help ensure your loved ones are provided for.
If you don’t have a Will or trust agreement at your death, again, state law will govern who will have custody of your minor children and who will manage their inheritance. The state law provisions may not be what you desire.
Some of the important provisions for your children in a Will include:
- Who would serve as guardian of your children (who would have actual custody of them) if there’s no surviving parent
- Who would serve as guardian of the estate (who would manage their inheritance)
- Testamentary trusts to hold assets inherited past the age 18 for the children
- Any special conditions you wish to place on the children’s receipt of inheritance, such as attending college, maintaining a certain GPA, remaining drug-free, etc.
IS A WILL ONLY FOR FOR THOSE WHO NEED ESTATE TAX PLANNING?
No. Most of us do not need Wills for estate tax planning as the estate tax exemption is currently more than $5 million per person. However, for some individuals, this is still an essential way to preserve the family inheritance from one generation to the next without Uncle Sam taking a big bite out of it.
If you own property that is precious to you or your family, consider having a Will or some other estate planning document drawn up so your final wishes will be granted.
If you need to create a Will or other estate planning documents, contact Adair for a free initial consultation. She will help ensure your legacy for your family. Adair’s firm serves Amarillo and Texas Panhandle residents as well as family members of those living in this area.