Consequences for Failing to do Estate Planning
If you don’t prepare for your estate to be inherited, you will have no control over how your assets will be distributed, and your estate may be administered by someone you would not have wanted to do so. This can result in a disappointing loss of assets. Your spouse may be forced to sell your family home after your passing, for example. Don’t take that risk. Prepare your estate today with Velos & Velos Lawyers.
Will Distribution of an Estate
A Will defines which people will get your assets after your passing. However, you might have more complicated needs than a Will allows, and in this case Estate Planning could be the answer.
Estate Planning includes the selection of Executors of the Will and Power of Attorney arrangements, in addition to establishing Testamentary Trusts which define how you want your property distributed.