A surprising percentage of people are going through life without an estate plan. Different studies are conducted at different times, but if you include adults of all ages it is safe to say that those who are fully prepared are a minority.
This is a curious phenomenon because perhaps the only thing we know with 100% certainty is that each and every one of us will pass away at some point in time.
The above having been stated, if you do put the procrastination behind you and start to think about planning ahead for the inevitable you have to understand that it involves more than just stating your wishes. You also have to consider who will be carrying them out.
Assuming you are using a last will to direct the transfer of your assets the individual who would be charged with the responsibility of taking care of the hands-on tasks would be the executor or personal representative. These tasks can be many and varied, and they typically require a good bit of business acumen.
Therefore, you want to select someone who has the time to administer your estate and the expertise to do so in an appropriate manner.
And, because the matter will be supervised by the probate court a good probate lawyer will be necessary to help guide your executor.
Should you be interested in discussing the entire process with an expert, simply take a moment to set up an informative consultation with a licensed and experienced Willoughby OH estate planning lawyer.
- Beneficiary Designations and Other Non-Probate Transfers - February 24, 2020
- Estate Planning Conference DiscussesSECURE Act and More - February 17, 2020
- The SECURE Act and What It Means for You - February 10, 2020