After spending a lifetime earning a living, building a home, and growing your wealth, it is natural to have strong feelings about what happens to your assets after you pass away. The unfortunate reality is that if you die without an estate plan in place, you will have no say in who inherits from you.

A dedicated estate planning attorney can draft a last will and testament that meets all your needs. Having a plan in place ensures that your final wishes are respected and your heirs are in the best position to inherit without facing unnecessary tax burdens. When you are ready to prepare for the future, a St. Peters wills lawyer is here to help.

Why Create a Will?

Having a will is important for anyone who cares about the destination of their assets after their passing. Dying without a will in place is known as intestacy. It leads to a situation where an archaic framework under state law determines which immediate family members are entitled to inherit. This approach often conflicts with the true wishes of an individual. Drafting a will to express those wishes avoids these problems entirely.

This process is not only for those with substantial wealth. On the contrary, having a plan is valuable for anyone with assets of any form. Wills can also be used to ensure a parent’s wishes regarding guardianship of their minor children are also known. An attorney in St. Peters can answer any questions about how a will could be useful.

What These Documents Include

For most people, a last will and testament determines how their property will be divided after their passing. This is an important purpose, but only one piece of information may be included. A St. Peters attorney could answer questions regarding all of the potential uses of a will.

One common item included in a will is instructions for burial or cremation. Many people feel strongly about their final resting place, and a will can ensure they are treated in their preferred manner.

A will typically includes extensive details about the assets a person owns. It might spell out specific accounts and list things of value like real estate or family heirlooms. In addition to identifying what is owned, these estate planning tools determine who inherits each asset by identifying heirs.

The Rules of Will Formation

A last will and testament must meet legal requirements before a court will consider it valid. That said, the rules are fairly straightforward so long as a few guidelines are followed. A St. Peters wills attorney could ensure a document qualifies under the law.

First, a will must be in writing in most cases. While there is a limited exception for oral wills, these can only be created by a person on their deathbed and should not be considered a viable option for an estate plan.

A person’s final wishes should be recorded on paper and signed by the creator. Additionally, two independent witnesses must sign after watching the document’s execution. When these requirements are met, there is a presumption that the will is valid.

Call a Wills Attorney in St. Peters Today

No matter the size of your potential estate, it is a good idea to plan for the future. This process begins with drafting a will that clearly expresses your wishes for the future. Reach out to a St. Peters wills lawyer today to discuss your options.