Angel Kane
Elder Law / Estate Planning Attorney
Creating a Last Will & Testament
A Last Will and Testament is more than just a legal document; it's a reflection of your wishes for the future. A Will serves as the cornerstone of estate planning. It guarantees the distribution of your personal property, real estate, and other assets according to your desires. Consulting with a knowledgeable will and probate attorney ensures these wishes are honored.
Our team is widely regarded as the best estate attorney group for comprehensive estate planning needs. For those unfamiliar with the process, the terms and state-specific nuances can be overwhelming. This is where elder law and our local estate planning attorneys come into play. They can guide you through the intricacies, ensuring that your final Will is legally sound and adheres to all state requirements. They can also advise on power of attorney decisions and other related matters.
Our law firm focuses on guiding individuals through the complexities of estate planning. If you're looking to hire an estate lawyer in Lebanon or Nashville area, we can help you craft a legally binding Will that stands up in a probate court.
Benefits of Creating a Last Will & Testament
By creating a Last Will & Testament with Kane & Crowell, you'll have peace of mind knowing that your final wishes will be carried out:
Protect Your Assets
A will helps your loved ones avoid legal issues and ensures your assets are distributed according to your wishes.
Reduce Stress & Save Time
A will can help reduce the stress and risk of time-consuming litigation.
Provide for Your Loved Ones
A will can help you ensure your wishes are respected after you pass away.
Avoids State Intestacy Laws
Without a will the state will decide how to distribute your assets based on intestacy laws which may not reflect your wishes.
Understanding The Last Will & Testament
The primary goal of a Will is typically to assign property. A Will can also name guardians for your children and choose who will receive your assets and in what percentages upon your passing. A Will is only effective after your death, but a Trust can start while you are still alive. Both are important for estate planning.
Every adult should consider having a Will, even if they've taken other estate planning measures. A Will ensures that assets not covered by other methods, like a Trusts, are distributed per your wishes.
One of the most significant concerns people have is what happens if they die intestate, meaning without a Will. In such cases, states decide how to distribute assets. This often places family members in challenging situations. Our law firm emphasizes the importance of having a Will, even if you've already taken other estate planning measures.
Why is a Will considered Essential?
Creating a Will is about taking control. A Will allows you to:
- Appoint an executor to manage your estate
- Decide who inherits your assets
- A Will can appoint a guardian for minor children
- Set up testamentary trusts for beneficiaries who might need additional support, for instance if you die while your children are too young to manage the money, you can appoint someone in the Will to help manage the assets they inherit from you.
Even if you've used other estate planning tools, a Will is vital to cover any assets left out of those plans.
Kayla M. Costley, Attorney
Lindsey Waller Johnson, Attorney
Limitations of a Will: While a Will is vital, it has its boundaries:
- It doesn't bypass the probate process, this means court will be involved
- It can't change beneficiaries on financial accounts posthumously
- It doesn't grant power of attorney to anyone
Crafting a Valid Will: While creating a Will might seem straightforward, it's essential to ensure it's legally binding. Typically:
- The creator should be 18 or older
- The creator must be mentally sound
- It must be signed by the creator and witnesses
Steps to Draft a Will:
- List all your assets.
- Choose an executor
- Decide on beneficiaries, guardians and Trustees
- Sign the Will with witnesses
- Store the Will safely
Key Elements in a Will: Your Will should be comprehensive. Consider including:
- An introduction with personal details
- A declaration clause
- Executor details
- Asset distribution details
- Provisions for any unallocated assets
- Guardianship details for minors
- Witness attestations
- A clause to deter contesting the Will
Seeking Expertise: For a comprehensive and legally sound Will, consult one of our estate planning attorneys. They can guide you in crafting a Will that truly reflects your wishes.
Learn How We Can Help Protect Your Legacy
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Common Questions About Last Wills & Testaments
What is the purpose of a Will?
A Will outlines how your assets should be distributed after your death. It can also name guardians for minor children and appoint an executor to manage your estate.How is a Will different from a Trust?
A Will takes effect after death and goes through probate, while a Trust can be active during your lifetime and helps avoid probate by directly transferring assets.What happens if you die without a Will?
If you die without a Will, state intestacy laws decide how your assets are distributed, which may not align with your wishes. This often complicates matters for surviving family members.Do I need a lawyer to write a Will?
While you can draft a Will on your own, working with an attorney ensures that it complies with state laws, minimizes errors, and stands up in probate court.Can a Will be contested?
Yes, a Will can be contested, typically on grounds of undue influence, lack of mental capacity, or improper execution. Having a properly drafted Will helps minimize the risk of contestation.What is an executor of a Will?
An executor is the person you appoint in your Will to manage your estate, ensure your debts are paid, and distribute your assets according to your wishes.How often should I update my Will?
You should review and update your Will after major life events such as marriage, divorce, the birth of children, or significant changes in financial status.Does a Will avoid probate?
No, a Will does not avoid probate. Probate is the legal process through which a Will is validated, and assets are distributed. Trusts are recommended to help avoid probate.Can I change my Will after it’s written?
Yes, you can update or change your Will at any time, as long as you are mentally competent. This is usually done through a codicil or by drafting a new Will.Is a handwritten Will valid?
In some states, a handwritten Will, known as a holographic Will, is valid, but it may be more difficult to enforce. It’s generally best to have a formally written and witnessed Will.What is a living Will?
A living Will is a legal document that outlines your preferences for medical care and end-of-life decisions in case you become incapacitated and can’t communicate your wishes.Can a Will cover all my assets?
Not all assets are controlled by a Will. Assets like life insurance policies or retirement accounts often have designated beneficiaries, which take precedence over a Will.What is intestacy law?
Intestacy law governs the distribution of assets when someone dies without a Will. The laws vary by state but typically prioritize close family members, such as spouses and children.Do I need to notarize my Will?
We will notarize the Wills we draft. Notarization can help make the probate process smoother by creating a self-proving Will.Is a Will the same as a Last Will and Testament?
Yes, they are synonymous.When is a Will considered invalid?
A Will can become invalid if it fails to comply with state laws or after significant life events, like marriage or divorce. Regular reviews with one of our attorneys can prevent this.What are the different types of Wills?
Simple Will: Direct asset allocation.Complex Will: For specialized needs, like trusts for minors or adults with special needs.
Holographic Will: Handwritten, but not recognized everywhere.
Living Will: Focuses on medical decisions.
What is the cost of creating a Will?
Costs can vary. DIY Wills may be cheaper initially, but mistakes can lead to expensive court fees, and some errors may be unfixable. Professional legal guidance ensures the Will is valid.Don't Wait Until It's Too Late
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