Wills, Estates, and Trusts

Planning an estate – what should I do?

Everyone being on the same page – something to think about when you want to provide for your family or loved ones when you leave this world.  Accomplish this literally…

Whether you have real estate or personal property, you can devise and bequeath it with particularity in a will.

An executor or executrix follows the devises (real estate) and bequests (all other property) of the will.  This can be an easy task, but when the will is ambiguous or otherwise silent on how to distribute the property properly, there could be problems.

For example, a contesting family member may be seen as contentious. This person has a right to protect his or her own interests, but the last thing you want is hostility between family members. Furthermore, this person requires their own attorney and incurs additional legal fees and expenses that could be taken out of the estate when closed.

Other than an issue like undue influence, there are many reasons a potential beneficiary could contest a will or otherwise hang up an estate. To avoid family discord and expensive litigation, specificity in the document itself is key. You should contact your attorney or schedule an appointment with us, especially if:

You don’t have a will;

If your will was created many years ago;

Or if you have had a significant life change since you last made a will.

Sometimes there are other options to transfer property which may bypass the formalities of probate.  Most often, this is by deed wherein a spouse has rights of survivorship.

Panter Law Firm, PLLC, 7736 Old Canton Road, Suite B, Madison, MS 39110, 

601-607-3156

www.craigpanterlaw.com

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