Every person who owns any property, has young children or has debts (loans, credit card bills) must have a Will and Last Testament for the unfortunate event of major illness or death. This is especially the case for divorced parents of young children. In situations where you have people depending on you in your life, a Will is a major tool for the event of your sudden illness or death.
If you have a blended family, children from two or more marriages, or even if you are worried about your children paying an enormous estate tax when you die on the property you leave them, you need a Will and a Trust.
Do you have young kids, under 18? If so, you need to have a Will with Guardianship spelled out for what happens to your young children in the event of your sudden illness or death.
If you have special needs children (minor or adult) and are worried about aging and leaving them behind to fend for themselves, you may need a Special Needs Trust and Medicaid planning for your child.
If you have a house and bank accounts, you may need a Trust set up to avoid having your family lose all of your assets in the event of your death.
If you have children from different marriages and a spouse, you need a clear Will and Last Testament to spell out who will receive what in the event of your death.
Call us today to speak to an experienced attorney about your individual situation.