Simple Wills 101
In Virginia, a simple will is the most basic estate planning document and can be a good choice for those who have no children under the age of 18, and have uncomplicated estates.
While there are many advantages to having a will, there are some things a will simply can’t do. As an example, a will is the perfect document for parents with minor children to designate a guardian for your children, minimizing court intervention. A will is also the right estate document to designate an executor of your estate. You can also, through a will, choose to provide for specific persons who would not otherwise be provided for under Virginia state intestacy laws, such as friends, godchildren or stepchildren.
As you can see, you do need a will, however you also need to understand the limitations of the will. For this reason, it is always advisable to discuss your needs with an experienced Virginia estate planning attorney who can help you determine which estate documents you need for your specific situation.
Here’s what a will cannot do:
If you have spelled out your wishes for the disposition of your body, your funeral arrangements or memorial service arrangements, be aware that wills are seldom read until days or weeks after the death. This is generally too late to be of any help to those who are left to plan your funeral. It is a good idea to have a separate document which clearly spells out your wishes for disposition of your body and funeral or memorial service arrangements, making sure your loved ones know the location of this document.
Dying without a will almost guarantees that the manner in which your estate is distributed will not reflect your actual wishes. Having a will, on the other hand, allows you to exercise control of the many personal decisions state default provisions cannot address. More than 55 percent of American adults don’t currently have a will, or an estate plan of any kind.
Don’t stick your head in the sand and hope for the best, rather take the time to meet with an experienced Virginia estate attorney who can help you decide what type of estate plan will best suit your needs. Contact us today to get started!