If you have any of these questions, the family law attorneys from King Law hope to help. We believe your concerns should be addressed with special care and consideration. We dedicate ourselves to supporting clients through each step of the legal process. If you need help determining how to carry out your asset division and estate planning, please continue reading for our thoughts and insights.
What Should You Keep in Mind During the Will and Trust Processes in Hendersonville?
If you want to start planning your estate through a will, trust, or another process, there are several items you need to consider. It’s necessary to keep the following details in mind while you’re planning, though this list is not exhaustive:
- Individual bank accounts
- Individually owned homes
- Mutual funds
- Retirement assets
- Overseas property
- Other assets
- Family or friends to prioritize
- Medical needs for potential asset receivers
Keeping each of these details organized may be difficult, especially if you carry out the process independently. We recommend speaking with a will and trust lawyer, as they are far less likely to make mistakes. Additionally, your will and trust lawyer may help you identify other assets and details that should be considered during the process.
Wills vs. Trusts: What’s the Difference in North Carolina?
Generally, the difference between a will and trust in Hendersonville is clear-cut. While each one offers its own advantages, one may be better for your circumstances than the other. Trusts are more of a relationship than a written contract or document, and another trusted party may carry out an individual’s final wishes. This individual determines what actions are carried out if a decision is not made beforehand. Trusts also generally cost more to upkeep than wills.
A will is often an outline of assets and liabilities as well as a declaration of who receives what. For example, you might use a will to set aside enough finances and assets to support your spouse or children after death. This may also be an efficient way to dictate who is responsible for any remaining debts.
What Steps Should You Take During Will and Trust Planning?
If you need to begin planning a will or trust, you may not know where to begin. Please consider our thoughts and helpful tips if you would like to construct a strong strategy before you start. These may be especially helpful if you want to avoid mistakes and ensure your loved ones receive the support they need.
Collect Helpful Information and Receipts
While you’re preparing to plan a will or trust, we recommend collecting any information that might be helpful during the process. These items might include receipts, evidence of inheritance or other assets, and additional information. You may also want to gather information from certain loved ones you want to provide with special financial support. This might include medical history and information about their projected expenses.
Speak to a Hendersonville Wills and Trusts Lawyer
One of the most essential steps in constructing a Henderson will or trust is retaining a will and trust lawyer. Your will and trusts lawyer may be able to assist you in several ways throughout the process, including the following:
- Legal knowledge
- Asset management
- Accuracy and avoiding mistakes
- Decision making
- Reduce stress
- Provide helpful information and resources
- Stay up to date
- Avoid probate
- Update and modify your plan
For the best possible results, please refrain from working on a legal will or trust independently. Without the correct experience and knowledge, you will likely make mistakes that affect your family. A family law attorney is far more likely to give you the help necessary to carry out the process successfully.
Get Help From a Hendersonville Wills and Trusts Attorney
If you need help planning your estate, asset division, or generally getting your last will and trust in order, King Law’s family law attorneys may be able to help. We are licensed in family law in North and South Carolina, and we have extensive experience working on wills and trusts for many families and clients. Our team is also dedicated to supporting clients through each step of the legal process, and we may be able to assist you in the same way.
To discuss your financial details and any concerns as well as gather helpful information from our family-oriented team, please don’t hesitate to get in touch with us at your earliest convenience. You can do so by calling (888) 748-5464 or (888) 748-KING. Alternatively, you can complete our contact form to speak with our team, whichever you prefer. We look forward to hearing from you and learning more about your needs.