Key Elements To Consider When Finalizing Your Estate Plan - Part 2

 

Think of an estate plan as an ongoing project that changes as your life changes. It’s never the wrong time to strategize for the management and transfer of your estate after your death. Certain major life events such as marriage, the birth of a child, or a death in the family can move estate planning to the top of your to-do list.

 

A well-thought-out estate plan determines who will eventually receive your assets. It identifies the legal instruments that you will use to accomplish this such as a will and/or trusts.

 

Although it is stressful to consider these matters, finalizing an estate plan can bring a sense of security for both you and your family.

 

This 3 part series will provide a basic overview of the key elements to consider when finalizing your estate plan including:

 

• Essential Parts of an Estate Plan
• Finalizing an Estate Plan
• Executing Estate Documents
• Who To Notify About the Estate Plan

 

Part 1 addressed Essential Parts of an Estate Plan. Part 2 addresses Finalizing an Estate Plan and Executing Estate Documents. Part 3 will address Who To Notify About the Estate Plan.

 

Finalizing an Estate Plan

 

States establish rules for preparing and finalizing estate planning documents. Failure to follow these rules can invalidate these documents.

 

That means that Florida’s rules for how to finalize an estate planning document won’t necessarily be the same as the rules in Texas. And requirements for executing one document (e.g. requiring a notary for a will) may not apply to other estate planning documents.

 

Executing Estate Documents

 

Executing an estate planning document simply means signing it in the manner required by law. State laws often require some security steps to make sure there is no mistake or fraud involved, and that the person signing is not an imposter.

 

These laws on execution of estate planning documents vary from state to state and document to document.

 

• You must sign estate planning documents in front of a notary in some states. For example, some states require this for a will, trust, and/or power of attorney.
• You must sign some estate documents in front of two adult witnesses in other states. These witnesses also sign the document. Some states require two witnesses, and some only require one.
• In some states, those who will receive property or assets under a will cannot be witnesses for that will.

 

Always check to see what your state requires for a document before executing it. If you are using a statutory form provided by the state or a Bar Association, it will probably provide instructions on execution. If you are in doubt, consult a local Amarillo estate planning attorney.

 

Call your Amarillo Estate Planning Attorney Today and Get Help With Finalizing Your Estate Plan

 

If you are planning your estate or updating your will, the best thing to do is consult with a local Amarillo Texas estate planning attorney to make sure you are following the laws and regulations of your respective state. Many people have similar questions and go through the same line of questioning when deciding how to make or update their estate plan. It can be and often is critical that you get legal help understanding the basics of this process. The best way to get this understanding is to contact an experienced Amarillo Estate Planning attorney near you. Stop and take a breath and call an Amarillo Estate Planning Attorney who has had decades of experience.  Pick up the phone and call Amarillo Estate Planning Attorney Bill Cornett.  Bill is your choice as an experienced estate attorney in Amarillo and the Texas Panhandle.  Don’t waste another minute.  Call him today.

 

Your most important action may end up being the phone call that you make to your Amarillo estate planning attorney lawyer.  In the Texas Panhandle that call should be to Amarillo attorney Bill Cornett.  Whether you need assistance with a will, administration of an estate or a contested probate, contact the Law Office of Bill Cornett. Be smart…remember these phone numbers (806) 374-9498 or (800) 658-6618.

 

Put Cornett Law Firm’s 50+ years of experience to work for you

 

Bill Cornett, Amarillo Attorney, with Cornett Law Firm, offers affordable, qualified services as an experienced personal injury lawyer and probate attorney. Bill also has experience in estate planning and agriculture law. Sit down with Bill at his office located at 612 S. Van Buren St. in Amarillo TX by calling (806) 374-9498 or (800) 658-6618 TODAY to schedule a free consultation.