Drafting Wills in Fairfax
The purpose of drafting wills in Fairfax is the comfort of having plans for the distribution of assets after they pass. They also create wills so they have peace of mind in knowing who is responsible for ultimately administering their estate, and ensuring that all of their final affairs are taken care of. A comprehensive estate plan can often avoid family disputes or unnecessary expenses. As a trusted wills lawyer knows, the primary goal of many individuals is provide for a smooth distribution of their assets a death.
What Parties are Involved in Drafting a Will?
The person creating the will is one of the main parties in drafting wills in Fairfax. That would be the person who is referred to as the testator and who is making their wishes known as to how they want they are distributed at death. A person can create their own will but many times a lawyer is involved and a lawyer who practices in estate planning should be considered when creating a will.
Typically, the lawyer who is drafting the will, the testator who the will is being created for, and then sometimes depending on a person’s assets, the testator will also want to have their financial adviser involved, and possibly other family members. It is very common for spouses to create wills at the same time. If a person is married then it is very likely that their spouse could also be involved in creating the will.
When to Consider Writing a Will
It is always a good time to start thinking about drafting wills in Fairfax even though people may think that they are too young to have a will. A person can never plan for the unexpected so it is best to have a will even if they are relatively young and in good health. Many people think that they need a certain amount of assets, or to be married, or to have children to begin estate planning. However, every individual over the age of 18 years of age with at least one bank account benefits from creating a comprehensive estate plan. In addition, planning for one’s own incapacity is critical while requisite capacity is present.
Role of Legal Counsel in Drafting of a Will
The role of an attorney is important when drafting wills in Fairfax. An attorney who is experienced with estate planning can give the testator or their client a good indication of whether they should draft a will versus drafting a trust and what types of will or estate plan they can create.
An attorney not only advises the testator of what kind of an estate plan they can do but will also give the testator all the pros and cons of the different estate plans. Also, the attorney is the person who actually facilitates the person’s wishes and makes sure that the person’s wishes are clearly and accurately stated in the will document.
They can work with you to address concerns regarding distribution or unique family dynamics. An individual can benefit from an attorney’s experience handling estate administration cases to assist them in making decisions during the estate planning phase.