Life is full of amazing adventures and rewarding relationships, but the one certainty is it will come to an end. This eventuality makes it difficult to think about what to do with the collections of a well-lived life, but estate planning is often best done early in life and updated often.
Talking about plans with the family and other loved ones is a vital part of making sure plans are understood. It also reduces the confusion that can occur after the death of an estate’s holder, especially when emotions are at some of their heights.
One of the best ways to make sure that the wishes of a person planning their estate are honored is to name an executor in a last will and testament. This person or organization carries out the bequests, disbursements and other actions named in the document.
What if all the people that the writer of a will would name are also very involved in the family? What if they are all receiving bequests, or worse, are possibly in competition with others for them? A neutral representative chosen by the writer of the will is often a good choice to avoid these situations.
A trust company can help identify an appropriate executor, while an attorney or a law firm can also fulfill this obligation. The help of legal representation while planning an estate can also reduce the need of probate litigation of legal or family disputes after the reading of a will. There are no certainties in life, but proper estate planning can help those we leave behind.