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Wills Quick Facts ... Basic Advice: Set Up a Living Trust Suze Orman, from O (Oprah) Magazine, strongly advises her readers to set up living trusts. Here is what she has to say: In "What to Do When a Family Members Abuses an Inheritance" in October's O Magazine and featured on the website, she strongly advises setting up a trust to prevent someone from taking wayward control of your estate. Read the article to find the facts, but her solution is the same, "Make sure they have a revocable living trust with an incapacity clause." In "Leaving a Legacy" on the O Magazine website, she repeats her standard advice by saying "We've covered this before, but it bears repeating: Create a living revocable trust, and make that trust the beneficiary of all your sizable assets (including your home)..." In "Why Gift Can Be Costly" on the O Magazine website, she says it again, "Set up a living trust for appreciable assets such as stocks or real estate, it's better to make the gift an inheritance through a revocable trust." You should also have other documents to insure you are fully prepared for every contingency life may present you with. At LegalEzeUSA.com - WE CAN HELP! Selling Real Property? Going into business with someone? Going in the hospital? No Will or Living Trust yet or they are outdated? Loaning Money to friends or family? BE SMART! BE INFORMED! PROTECT YOURSELF! Make the Law Easy with the personalized services of the good people of the LegalEzeUSA team |
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A Last Will and Testament is a very important legal document every adult should have and understand.
The “Last Will and Testament” will be known only as “Will” in the balance of the information that will be given. A "Will" defines who will receive your assets when you pass away and who will administrate your estate. The person that is appointed to carry out this administration of your "Will" is normally called an "Executor" or "Personal Representative." This person should be someone that is trustworthy and understands business and finances. A "Will" can put your mind at ease as you now know that you have prepared your estate for your heirs in the event death occurs and that your wishes will be carried out. This legal document is very neglected as most people do not think about dying and rarely are prepared for death.
A "Will" dictates how your property will be distributed to your heirs at your death and who will be guardian over any minor children that remain in your family. A regular “Will” must pass through a Probate court in most states before your estate can be passed on to your heirs. Probate court can take some time if there are any disputes that arise so make sure your wishes are clear and well stated when having your “Will” prepared. Your “Will” can be prepared as a standard document with you acting as your own attorney however if your “Will is very complicated you may need a enlist a lawyer to assist you or consider a “Living Trust.” The “Living Trust has many more options that will give the “Trustor or Creator” the ability to make decisions involving their estate that are beyond a “Last Will and Testament” plus “A Living Trust” will eliminate a Probate court filing. A note saying "I leave my estate to my children" scrawled across a napkin will not hold up in Probate court so it is extremely important that your wishes are clearly dictated and easy to understand when the time comes.
Most state laws do not require that you use a lawyer to prepare your will and you can do it yourself from your home on your own terms using LegalEzeUSA to do the wordy legal jargon that is necessary while helping you craft your input into a finished legal document that you simply don't have to worry about.
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Disclaimer: The information provided in this site is not legal advice, but general information on legal issues commonly encountered. LegalEzeUSA.com Legal Document Service is not a law firm and is not a substitute for an attorney or law firm. LegalEzeUSA cannot provide legal advice and can only provide self-help services at your specific direction. That being said, we are available to our Clients to aid them in customizing legal documents to best fit their particular situations. Thank You.
