What is a Will?
A will is a legal document that designates certain assets to go to certain individuals. This is usually to family members, close family friends, or other loved ones. A will also dictates what will happen with any minor children that the decedent may have. A will is critical in ensuring that assets are passed on to the correct people and that a family is taken care of after the unfortunate event of a death. While some people write wills on their own, it’s important to understand all of the different details of a will. This is why it may be worth seeking legal help with a will in order to ensure that all of the crucial details are taken care of and that nothing is overlooked.
What All Does a Will Cover?
A will can go into as much detail as one wants when it comes to how they wish to pass on their assets, investments, business, and other wealth. Whether someone wants to pass these things on to a family member, a close family friend, or even a charity, that can be arranged in a will. Many people typically think that wills are only for people with a lot of wealth but this couldn’t be further from the truth. It’s easy to overlook assets that someone has. This includes:
- Collectible items
- Art and jewelry
- Stocks and life insurance
- Patents and copyrights
- Real estate and properties
- And more.
Even if you only have a few of those things to your name they still hold wealth. That is why it is important to have an experienced and knowledgeable will lawyer from a law firm like Yee Law Group, PC assist you or your loved one with a will. Experienced professionals, like will lawyers, have the necessary experience and skill to ensure that the will has everything covered and that loved ones are taken care of.
What Happens if Someone Dies Without a Will?
When someone dies without a will it can be a tricky process. If that person has a family and a spouse, then generally the assets will be passed on to them equally. Things can get tricky though when properties or assets need to be sold in order for that value to be passed on. It’s happened before that a family home had to be sold when one spouse passed away leaving the other spouse and children in a tricky situation with housing and support. A will lawyer can explain in more depth about what happens to those who pass away without a will.