Arranging for the transfer of your assets in writing is one thing, but it is not the only thing to consider. Human beings are going to have to make sure that your wishes are carried out, and you may need trusted family members or friends to make decisions in your behalf should you become incapacitated.
If you use a last will to state your final wishes the person who will do the legwork is the executor or personal representative. The administration of the estate is going to be supervised by the probate court, and depending on the specifics of your case the executor may have some considerable duties.
These would include taking care of any outstanding bills, paying final taxes, liquidating property, and preparing the net resources for distribution to the heirs.
When you use a trust you are going to have to appoint a trustee to handle the resources. This too is obviously going to require a good bit of business acumen, and you may want to utilize a professional entity such as a trust company.
An incapacity component is important as well. Durable powers of attorney can be executed to name people of your choosing to make financial and medical decisions in your behalf should you become unable to do so.
There is a lot to take into account if you want to be comprehensively prepared for the future. The best way to go about making preparations is with the assistance of an experienced Hartford estate planning lawyer who is dedicated to this particular area of the law.
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