Many people think that they simply “don’t have enough to bother with a will.” That couldn’t be further from the truth.

First, many people grossly underestimate the amount that their estate might be worth. Secondly, even with a small estate, there are many problems that you can run into if you don’t have a will. Here are some of the more common problems that are easily avoided by simply setting up a will and an estate plan.

Court-Appointed Executor Issues

If you die and have no will, that means that the court will appoint an executor to handle your estate. Typically this will be someone close to the family or part of the family. However that is not always the case. Even if the selection seems to make sense, the appointed executor may not be willing or able to handle all of the responsibilities of their appointment. Getting affairs in order, taking an inventory of assets and having items appraised and distributed all takes time. It can take more time than it needs to with a court-appointed executor.

If you don’t want the state to decide who is going to handle your affairs after you are gone, then make sure to have a will that designates who your executor is going to be.

Fabricated Wills

Forgery is something that still happens on a regular basis. Since it is public record when someone passes away, many scammers see this as an opportunity to make a few dollars. They do so by fabricating a will.

The larger the estate, the more likely that it may be a target of a scammer with a fake will. Proving that a will is fake can be hard and will sometimes expend considerable resources to win the case. Not to mention the emotional toll that something like this would take on your family.

Avoid the situation entirely by having a signed and legal will ready.

Contested or Unexpected Heirs

Without a will, the executor and the state work together to try to figure out who the beneficiaries are. Since an estate without a will has no directions on how assets should be distributed amongst the beneficiaries, it can be legally tricky.

The situation can get more complicated if there are complicated family issues like stepchildren or ex-spouses. Some people who believe that they are or should be heirs may take the estate to court. This can lead to long legal battles that are hard for either side to prove their case.

Spendthrift Heirs

A large windfall of cash can lead even the best people to misbehave. This can often be the case with heirs who mismanage money or have gambling, alcohol or drug addictions. A situation like this can easily be avoided by setting up a trust via your will in advance.

Trust An Elder Law Attorney for Your Will

Looking for a good elder law attorney to get your will or estate plan done? Then trust Stano Law group! Contact us today.