Wagoner Wills Attorney and The Estate Planning Process:

A will is a vital estate planning tool that nearly everyone should have.  If you don’t have a will your loved ones may not receive the assets that you wish to leave them.  Planning in advance and creating a will can ensure everything that you worked so hard to achieve goes to the people you desire.  If you need a will or just have questions for a Wagoner wills attorney call today. Below is an in-depth look at wills and why they are so necessary.

Advantages of Having a Will:

Our Wagoner Wills attorney will explain that  its wise to draft a will. A will is a legal document which provides certain instructions to be carried out upon your death.

In your will, you can name:

• Your beneficiaries:  You will set out a list of beneficiaries and this can include who ever you want. This usually includes anyone from family, friends, or your spouse to a charitable organization. Those you list will receive your assets in accordance with the instructions in your will.  You can list specific gifts to be given to certain beneficiaries. This list can include property like your vehicle, jewelry, or a sum of money.  You can then direct what will occur with the remaining assets.  Your estate planning attorney will go over the many options available to you in drafting a will that meets your desires.
• A guardian for your minor children:  In your  Oklahoma will, you can also nominate a person who will be responsible for your minor child’s care in the event both you and your spouse die before your children attain the age of 18.  You can additionally name a guardian, who may or may not be the same individual, to be responsible for managing any assets provided to the child until he or she turns 18.
• An executor:  You will have the option of naming an executor in your will.  The executor is the person who will collect and manage your assets, pay any expenses, debts, or taxes that are do, and, with the court’s ultimate approval, distribute your assets in accordance with the terms of your will. The executor serves an important role with significant responsibility.  It can be time consuming so select your executor wisely.

What Happens If I Die Without a Will:

A Wagoner wills attorney will tell you that if you die without a will your assets will distribute intestate.  Only those assets that would have gone through your will pass by intestacy.  This will generally exclude any life insurance proceeds, property you have placed in a trust, and retirement benefits.  All other assets likely fall under the intestate succession process.

In Oklahoma, if you die without a valid Oklahoma will, your assets will distribute to your closest relatives in accordance with intestate succession laws.  For instance, if you die with children but no spouse, your children will inherit everything.  If you die with a spouse and no children, your spouse receives everything.  If you have a spouse and children, the assets will be split between them.  An estate planning attorney can explain intestacy laws to you more fully.

Wagoner Wills Attorney Providing Estate Planning:

Creating a will is one of the most important estate planning steps you can take.  Through a will, you can ensure everything that you worked so hard to achieve is passed down in the manner you desire.  Your loved ones will benefit greatly from your advanced planning.  With Kania Law Office’s Wagoner Attorneys, we will assist you in developing the ideal will.  We will also assess what other estate planning options would help you to preserve your legacy.  Contact us today to schedule a free consultation with one of the Wagoner County, Oklahoma Estate Planning Attorneys at Kania Law’s Wagoner Attorneys Law Office