It’s a misconception that only the elderly or wealthy need to worry about wills and trusts. Believing this could cause significant legal and financial issues for your family after your passing. Not only do these documents ensure that your final wishes are respected, but they can also prevent intense conflicts between your family members later. 

Making Your Desires Legally Enforceable

Verbally expressed wishes regarding the disposition of your assets, no matter how often you have stated them or to whom, are not legally enforceable without a will or trust. If you pass away without an estate plan, the probate court will divide your assets according to the distributions specified in the state statutes, without regard to those relationships that were actually most important to you in life. Even those who only possess items of sentimental value or a small savings account should prepare an estate plan, minimizing conflict and guaranteeing that your belongings go to those you choose.

Other Important Estate Planning Documents

In addition to wills and trusts, a comprehensive estate plan includes other legal documents that guarantee your wishes will be respected. An advance health care directive (living will and healthcare power of attorney), for example, communicates your desires regarding medical treatment if you are unable to express them yourself and designates someone to carry out your wishes and make decisions for you if you are not able. Durable powers of attorney also empower those you designate to manage your financial, with the full legal power to act on your behalf.

Preparing an estate plan can be daunting, but an experienced lawyer will guide you through the process and ensure your wishes are clearly stated. Nichols, Speidel & Nichols has served Batavia, OH, since 1926, providing in-depth legal advice in every aspect of estate planning, from wills and trusts to powers of attorney. To schedule an initial consultation, contact them through their website or call (513) 732-1420 today. They’ll give you peace of mind knowing your family will be taken care of.