Designate your wishes. Your will is a legal document by which you designate the persons who will receive the assets you own. A will is also the instrument used to appoint legal guardians for your minor children. Talk to Lindsay Savona Law firm to determine what you need in your will and how you can make your wishes clear.
If you have a will, it is a good idea to review it periodically to assure that it continues to be accurate. A will must be executed in the presence of two witnesses and acknowledged by a Notary Public. A will properly implemented in one state will be valid in any other state in which death may occur.
Know the limits of a will. A legal will can prevent your property from being distributed according to the provisions of state law. A will does not override a beneficiary designation under a life insurance policy, retirement plan, or a joint form of ownership. Many individuals unfortunately find out too late that a family member’s will does not carry out that person’s wishes. Lindsay Savona is an estate planning attorney that can help you determine if a will is sufficient for your needs.
A will incurs probate expenses. A will does not avoid the expense, delay, and publicity of a probate proceeding, nor does it help to reduce estate tax costs or protect your assets from the costs associated with long-term care. This is why a trust is usually recommended in addition to a will.
Prepare a living will. The Connecticut Law Office of Lindsay Savona can help you write a living will (health care proxy, health care power of attorney) that will guide your family in making health care decisions if you are unable to make them yourself.