Estate Planning Lawyer Laramie, WY

While drafting your last will and testament can be a daunting feat, a Laramie, WY estate planning lawyer is available to assist with the process and walk you through every step. Davis, Johnson & Kallil has the experience and prowess to streamline every aspect of the undertaking. An important option for solidifying your legacy, estate law is a tactical solution to the question of what happens to your possessions after you die. 

What is a will?

Throughout life, you have amassed a great deal of personal items. From simple trinkets or old books, to jewelry, automobiles, and land, these may carry a great deal of personal or monetary value. 

You may have specific goals in mind as to what your children and spouse inherit. Perhaps there is intent to donate remaining finances to charity, or your art collection to an exhibit or museum. Those in receipt of your assets are referred to as beneficiaries. Wills are legally binding documents that allow you to have control over the distribution of your wealth even after death.

What can an estate lawyer do for you?

Many opt to take inventory of these prized assets and solicit the advice of an estate lawyer in Laramie. Generally, after indexing the items, the client will name an executor. An Executor of Estate is a trusted individual who is in charge of distributing possessions and implementing the final wishes of the decedent. This is typically a lawyer, spouse, immediate family member.

The Laramie estate planning lawyer can assist in writing the will, answer any questions, and act as a guide. If the client chooses to write their own will without legal counsel, they may take it to a lawyer for review. This is useful for verifying that no common errors were made, which can invalidate the document. Additionally, they can act as a mediator in the case of family members arguing over terms of inheritance.

Following the death of the client, the lawyer will verify that any debts of the estate are payable through assets. These may comprise mortgages, credit bills, costs associated with the funeral, if there was one, and more. When any outstanding debts are paid, all remaining assets are bequeathed to beneficiaries in accordance with the will. 

When is it time to contact an estate lawyer?

Drafting a will can be done at any time throughout life. An inheritance can be as simple as an object that brings back memories, or as complicated as a business, farm, or yacht. Planning for the future solidifies that your wishes are upheld.

Dying without having written a will is called intestacy. A person who dies intestate has not named specific beneficiaries. In this case, the possessions go through the probate process, where they are distributed to inheritors by a court according to state laws. 

Having a valid will detailing your wishes greatly simplifies the series of events following your passing, expected or otherwise. It allows you to breathe a little more freely knowing that you will be able to assist your family financially even after mortality. It can also alleviate some stress from the grieving household of the deceased. A Laramie, WY estate planning lawyer is a mighty ally throughout this process.

Davis, Johnson & Kallil earnestly and diligently work to cement your legacy and ensure that your final bequests are fulfilled. With death being an unavoidable certainty, it is best to have a contingency plan that ensures your valuable possessions continue to be valuable possessions.