No one likes to think about their parents passing away, but putting tasks off can have dramatic consequences later. Many people assume that their loved ones will know what to do with their assets, and others are just overwhelmed by the complexity of the project. As uncomfortable as the topic may be, it’s important to find a good lawyer to help your family create a responsible plan that ensures their wishes are respected after they’re gone.
Talking to Your Parents About Estate Planning
If one of your parents passes away without a will, their spouse may automatically inherit all their assets. However, in most states, they may only get a share, with the remainder going to other relatives, regardless of your parent’s wishes or the relationships they valued in life. The only way to make their intentions legally binding is to write a will or establish a trust that describes their final wishes, without ambiguity.
A Comprehensive Plan
Comprehensive estate planning with a skilled lawyer also includes creating living wills and durable powers of attorney that empower those your parents trust to take care of their affairs if they’re unable to. Otherwise, one of them may be unable to sell their house if the other is incapacitated, or their business partner may not have the authority to run the company.
Without a will, any of these situations can result in bitter disputes that often tear families apart. While emotions run high after the loss of a loved one, your family members will be more likely to accept your parents’ decisions, allowing you to begin rebuilding your lives together.
With over 25 years of legal experience and a diverse array of skills, lawyer Tom Ganim of Ganim, Ganim & Ganim, PC, offers comprehensive estate planning services to families throughout Bridgeport, CT. He understands how difficult these decisions can be, so he takes the time to provide every client with individualized attention and compassionate service. Follow the firm’s Facebook page for more legal tips and insight, and call (203) 372-7772 or visit the website to schedule a consultation with a leading local lawyer today.