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Failing to sign a will or simply forgetting to make one are two obvious mistakes that can make estate planning ineffective, estate planning lawyer Robert Brumfield the founder of the Law Offices of Robert H. Brumfield, P.C., in Bakersfield, CA disclosed.For more information please visit https://www.brumfieldlawgroup.com
Brumfield said that anyone drawing up a will should pay particular attention to detail and not forget to sign it.
“Creating a will avoids potential problems down the line, but you need to make sure that it is fit and legal in law.”
He added: “In most states, for example, a person making the will should sign it in the presence of two witnesses, all of whom must sign it in your presence and the presence of each other. Failing to do so could invalidate the will and your wishes might not be carried out.”
All signatures need to be notarized to make it easier to have the Will admitted to Probate without having to locate the witnesses after your death. Thus, you should also have a notary present at the time of signing.
Brumfield said that setting up a Will and forgetting about it is another commonplace error. "A will should be seen as a living document. After establishing a will, it's important to make a plan to continually review and update it in case anything changes in your life or you receive new assets.”
He advised that people often make the error of assigning assets or property that come under beneficiary designation. “When it comes to deciding what to put in a will, you should only include property and assets that belong to you.
“Assets that are jointly owned will not pass by your will, but rather to the surviving joint owner. Also, you shouldn't include assets or property with designated beneficiaries such as “payable-on-death” or “transfer-on-death”.
“Those assets will pass by virtue of the beneficiary destinations, not the will. Any conditions you set out for assets that already have designations or are jointly-owned will be invalidated and can lead to problems."
Brumfield said that failing to consult an Elder Law and Estate Planning attorney could be a fatal mistake when drawing together a will.
“Many factors need to be considered in making a will and can easily be overlooked without the help of a professional. A will covers many areas from funeral arrangements to the care of children, and not simply passing down assets.
“An attorney can advise on the need for contingency plans in a will in case you become incapacitated,” he emphasized.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Robert H Brumfield
Email: Send Email
Organization: Law Offices of Robert H. Brumfield, P.C.
Address: 1810 Westwind Drive, Suite 100, Bakersfield, CA 93301
Phone: (661) 416-3735
Website: https://www.brumfieldlawgroup.com
Source URL: http://RecommendedExperts.biz
Release ID: 89018676
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