We’ve noticed that many people have the same few questions when looking into estate planning. While we are happy to talk with anyone interested in estate planning, we thought we’d answer the more popular questions that we hear a lot.
Here are four of the most frequently asked questions about estate planning:
- When do I need a will? We think any adult with their own income, assets, or especially minor children, should have an estate plan. Keep in mind that estate plans also include living wills and health preferences.
- I’ll be dead. Why should I care what happens to my estate? If you have any loved ones that need to be cared for, such as minor children, an estate plan can have provisions to help ensure they’ll be taken care of. Leaving an estate plan helps a grieving family be better able to handle a person’s death. Beyond caring for loved ones, a will is a way to leave a legacy in this world. What you choose to do with your assets can have an impact on the world. Otherwise, the State of North Carolina gets to decide how your assets are divided, which may be in a way that you don’t want.
- Why not just do it online? Every person’s situation is different and every state has different laws around estates and probate. Working with a professional face-to-face and making sure a will is filed correctly will ensure that the will holds up in court and that the estate is handled correctly.
- Is it going to cost a fortune? Not really. Most people are surprised to learn that a simple will doesn’t cost nearly as much as they thought. Of course, the cost of a will depends on the intricacies of the estate.
When starting to create a will, it’s important to have all questions answered and be able to trust the person creating the will. Contact Thornton Law Firm with any questions about estate planning in the Durham area.