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Over time, families realize how important it is to have a will in place to help direct how assets including money, personal items, real estate property, and other valuables are going to be distributed upon death. When you don’t specifically and legally designate the beneficiaries by a will or some other estate plan, the Colorado state is going to distribute your property and assets or money as it sees fit. The Law Office of Kevin R. Hancock, LLC in Colorado Springs will help you when it comes to matters of a will.

What is a Will?

In its basic definition, a will is a legal document containing various details reflecting what you would want to happen with your assets and property after you die. In this document, you identify:

  • Who will receive your property
  • The person who is going to look after the property of your dependents
  • The name of a personal representative or an executor
  • Trustees who will manage the property held in a trust

Why do you need to Create and Sign a Will?

Today, wills are complex, varied, and more important than just directing title to the property you own when you are alive. While your will is going to direct what becomes of the assets you own including money, home, and possessions like family heirlooms, cars, home furnishing, and jewelry, it also directs the persons who will manage those things, known as a personal representative.

Selecting and determining a personal representative is very important in a will since your estate could be of great value when it involves retirement accounts, rental properties, life insurance policies, bank accounts, and other property you own. You need to plan carefully so that you protect your loved ones. That’s why you need a will attorney to take care of the process. You will be able to protect the financial and property interest of the loved ones when you engage with an attorney experienced in estate planning and wills.

Besides, if you have children, you want to determine the person who will take care of them if you pass away or when you cannot care for them.

A will makes sure that your wishes are done after your death. You will choose an agent who will file the will through a court after you are deceased with the help of a probate or wills attorney. In the probate process, you will have the authenticity of your will determined. While intestate laws can be applied to decide who receives the property or assets usually the decedent’s children, spouse, or other family members when there is a will, the court’s guess may not always reflect your wishes. This is why it’s crucial you create a will to ease the process and protect your loved ones.

Seeking an Attorney to Help you with your Will

The Law Office of Kevin R. Hancock, LLC is your companion when you want to write a will. We will handle every step and process of drafting and writing a will so that you are sure your property is passed to the people you intended.

It is advisable that you have your estate plan and will be reviewed by your lawyer at least every three years. However, there are life events that can prompt you to get the will reviewed sooner such as being divorced, getting married, death of your spouse, or if children or grandchildren included in the will turn 18.