Do you really need to execute a last Will? This may come as a surprise given the fact that it is coming from an estate planning attorney’s office but the answer is no.
You do however need some type of vehicle of asset transfer. A last Will can serve this purpose, but you have alternatives such as the creation of a revocable living trust. These vehicles enable the transfer of assets outside of the oftentimes costly and time-consuming process of probate.
The above having been stated, it should be noted that a pour-over Will is going to be necessary even if you do utilize a revocable living trust. This document directs any personal possessions that you may have at the time of your passing into the trust.
There is however one type of will that is necessary for everyone: a living Will. With these documents you express your personal preferences regarding medical procedures.
People sometimes become unable to communicate their own choices in real time, so it is important to let your wishes be known with regard to how you feel about being kept alive via the use of artificial means should you be diagnosed as being in a terminal condition.
When you start to seriously consider all of the eventualities of aging you inevitably see a rather broad picture. The best way to prepare for any and all contingencies that may present themselves is to sit down and discuss your future with an experienced Hartford elder law attorney.
- When to Update Your Living Will - April 2, 2020
- Planning for the Sandwich Generation - March 31, 2020
- Whom Do You Want to Get Your Assets? - March 26, 2020
