When Is a Will Not Enough?

Most people recognize that estate planning requires a will for the vast majority of people, but when does a will not go far enough and potentially even leave you exposed to unnecessary problems for your loved ones?

Recognizing when a will doesn’t go far enough should prompt you to meet with your knowledgeable estate planning lawyer. A will doesn’t avoid probate, which is one of the biggest reasons many people choose to work with an estate planning attorney.

A common way to bypass probate instead is to generate a revocable living trust and then ensure that all of the assets you place in the trust have been retitled and have transferred ownership. With a revocable living trust, you still maintain control over the assets but you can name a successor trustee to take over after you pass away. The successor trustee can distribute your property without the involvement of a court.

A New Hampshire will is a starting point, but it might not be where you stop with your planning process.

There are other ways to pass on property, but you should always discuss this directly with your estate planning attorney to determine that you have used the appropriate strategies and tools available to you with consideration for both state and federal level impacts that could potentially change your estate planning goals or the outcomes you achieve. You need someone who will be there to guide you through the process and can help you make adjustments to your plan as needed.

 

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