Wills Attorney George E. Thompson Discusses the Importance of Proper Estate Planning
If you are contemplating executing an estate plan but are unsure where to begin, you are not alone. It is not uncommon for families, when executing a plan for the first time, to feel overwhelmed or disheartened by the process. Many of our clients are uncomfortable discussing arrangements for their death or the death of a spouse. Moreover, some families experience difficult discord when deciding to whom to leave valuable real and personal property. If you are experiencing any of these situations, a wills attorney at the Law Offices of George E. Thompson, P.C.
can help you work through the issues and draft a thorough estate plan to meet your needs.
George E. Thompson Discusses the Basics of a Last Will and Testament
If you are new to the estate planning arena, the pivotal document in your portfolio should be your will. The will works as a directive to your surviving family members and details your wishes once you pass away. Subject to very limited exception, a will cannot be changed, altered or set aside after you die, so its contents are of utmost importance.
When you execute a will, you must choose an executor. This person will be responsible for overseeing the process whereby your property is transferred to your beneficiaries. The executor is also responsible for handling any debts or claims against the estate. Choosing a responsible executor is an important component in making sure your estate is handled and settled properly.
You must also determine how you would your property to be divided. Many people elect to leave their entire estate to their spouse and then to the children in equal shares – however, there are alternative ways to arrange your estate distribution. As well, if you are of a high net worth, Mr. Thompson and his team will discuss the importance of using trusts to distribute your assets and maintain your property.
Wills Attorney George E. Thompson
If you are ready to discuss your will and are looking for an experienced and knowledgeable estate planning attorney, contact the Law Offices of George E. Thompson, P.C. today. You can make an appointment by calling (713) 439-0700.