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By Elspeth Crawford What happens to you after you die is a question with no answer. What happens to your stuff, however, is much more clear. If you own property and assets, you should strongly consider drafting a will. That way you, and not your state government, can decide who gets your property and assets when you die. In most cases, wills are written legal documents, but some states do recognize other types of wills. The legal requirements of each state can vary, so it's essential that your will is drafted and executed properly. The main reason for having a will is to allocate your property to heirs in any way you like. But there are other things you can include such as funeral arrangements, legal guardians for your minor children, and who should serve as executor of your will or trustee of any trusts you create. A Will Must Meet Certain Legal Requirements Most wills are formal documents that instruct how money and property should be distributed to each person named as an heir. Typically, for a will to be valid, you need to have one or two people witness you signing the will and then sign it themselves. The witnesses can be anybody,; they require no special qualifications. In some states, however, wills that are handwritten or simply spoken can be legally enforceable, too. A Will Keeps The Government Out Of It When you die without a will, state laws known as "intestate succession laws" will decide which family members will inherit your estate and in what proportion. In most states, your spouse and children take priority under intestate succession. If you want other people to inherit some of your property, or if you want to leave everything to your spouse and children, but in different proportions than they would receive under your state’s law, a will is one of the best ways to ensure that the state won't make that decision for you. Make It Easier On Your Family The division of an estate after death can bring out many emotions. The slightest differences can result in hurt feeling and recriminations. As divorce becomes more complex and blended families more common, dividing assets has become even more complicated. A typical situation is when you're in a second marriage and have children from your first marriage. In this case, allocating your property purposefully between your second spouse and your children can give you peace of mind and prevent your family from fighting over your possessions. DIY Solutions May Cause More Problems Than Solutions The law surrounding creation of a will is complicated and nuanced. Plus, the facts of each case are unique. This article provides a brief, general introduction to the topic. For more detailed, specific information, please contact a trusts and estates lawyer. Take a look at the December 2014 issue of Huntersville Magazine featuring Adkins Law PLLC. Adkins Law PLLC is located in Huntersville, North Carolina and primarily serves Mecklenburg County and the Lake Norman area. If you need to speak with a divorce attorney, traffic attorney, or estate planning attorney, contact Adkins Law PLLC. Do I really need a will? This is a very common question and the answer really depends on your life stage and situation. A younger, single person with minimal assets is less likely to need a will than a married person with a secure career, children, and considerable assets. A will simply ensures that your assets are distributed as you desire. If you have minor children, a will may also determine who will take guardianship of them in the event of your death.
A will is one of the most important legal documents you can create during your lifetime. In North Carolina, if you die without a will, you are said to have died “intestate.” Dying intestate means that your assets are distributed by North Carolina intestate succession laws. This usually means that your assets will go to your closest relatives, whether you want them to or not. Not only may your assets be distributed in a way you do not desire, this may also lead to potential and unnecessary lawsuits amongst your successors. To ensure that your assets are distributed as you wish, and that your loved ones are cared for after you pass, a will is essential. To be valid, a will must meet the legal requirements set for by North Carolina law. A will executed in North Carolina will also be valid in most other states, as long as the document is a valid will under that state’s laws. In North Carolina, any person at least eighteen (18) years old, or a lawfully married minor, may make a will as long as they are competent and of sound mind. The will must be in writing and signed by the testator and two witnesses. If the testator is unable to sign the will, he or she may direct another person to sign on his or her behalf. Additionally, the two witnesses must sign in the testator’s presence. In North Carolina, it is recommended that a witness be a disinterested party. A disinterested party is one who does not inherit under the will. Having disinterested witnesses prevents the will from being challenged by other parties. As long as a will is self-proven in a signed affidavit to a notary, the witnesses will not have to testify in court as to the will’s authenticity. The will is said to be self-proven and thus authentic. If you believe you need a will and want to speak to an estate planning attorney in Huntersville NC, or a wills lawyer in Huntersville NC, please contact Adkins Law. Adkins Law is located in Huntersville and primarily serves Huntersville Cornelius, Davidson, Charlotte, Denver, Mecklenburg County, Iredell County, Gaston County, Cabarrus County, and the Lake Norman area. Contact Adkins Law to schedule a free estate planning consultation with a wills lawyer. WHAT IS A HEALTH CARE POWER OF ATTORNEY? In North Carolina, a healthcare power of attorney works in conjunction with a living will. This is the document that specifies your health care agent, which is the person who will make medical decisions for you in the event of your incapacitation. Your health care agent needs to be someone close to you who you can trust. An estate planning lawyer can help you appoint a health care agent. WHO CAN BE MY HEALTH CARE AGENT? Most people choose their spouse, partner, relative, or close friend as their health care agent. North Carolina requires that your health care agent be (i) at least 18 years of age, and (ii) not being compensated for providing you health care. An estate planning lawyer can help you determine who will qualify as your health care agent. WHAT IF I APPOINTED MY FORMER SPOUSE AS MY HEALTH CARE AGENT? In North Carolina, if the principal appoints his or her spouse as their agent, such spouse's authority to act as agent is revoked upon the entry by a court of a decree of divorce or separation. N.C.G.S. 32A-20(c). Speak to an estate planning lawyer at Adkins Law if you have questions concerning health care powers of attorney. Adkins Law is located in Huntersville, NC and primarily serves Huntersville, Cornelius, Davidson, Charlotte, Mecklenburg County, Gaston County, Iredell County, Cabarrus County, and the Lake Norman area. |
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