Regardless of how wealthy you might be, or how many assets you might own, taking the time to create a legal last will and testament is extremely important. If you haven’t given it some thought, here are some tips for making a will with a lawyer in Lexington, KY, as well as some advice for making a will without one.
What happens if I don’t have a will?
If you pass away without a will in order, you’ll only create chaos in the aftermath. In Kentucky, someone who dies without a working last will and testament automatically has their assets transferred to their closest living relative. If you don’t have a spouse or children, the state will seek out increasingly distant relatives until it exhausts its options. At that point, the state of Kentucky will take possession of your assets.
Draft a basic will
You don’t require a lawyer to draft a basic will. Creating a will is actually simple. The verbiage used in most DIY wills can be found online. Then, you can divvy up your assets as you see fit using simple English. Once you have created a form that encapsulates your assets, and how they’ll be divided, all you need is two people to witness the signing of your will.
Of course, there are several instances in which you will want to talk to a legal expert when creating a will.
When to talk to a lawyer
Here are some of the most common reasons why making a will with a lawyer in Lexington, KY can be extremely beneficial:
- If you are leaving behind a sizable sum of money, you should speak to a lawyer about how best to divide your assets.
- If you aren’t directly delegating your assets (for example, if you’re leaving property or funds in a trust).
- If you’re making arrangements for a long-term beneficiary (like a mentally-handicapped child).
- If you’re concerned that someone may contest the terms of your will.
- If you’re planning to bypass your spouse in terms of inheritance in favor of leaving assets to someone else.
Of course, a legal expert should also be consulted if you have any other questions about how to execute your last will and testament.
Helping ease your transition
Ultimately, making a will without a lawyer in Lexington, KY may not be in your best interest. Regardless of your assets or how straightforward they’ll be divided among your loved ones, calling in a legal professional can be extremely helpful. At Oakley & Oakley LLC, our entire team is ready and waiting to ease the stress of your next legal issue.
In addition to wills, we also have experience helping people with divorce proceedings, personal injuries, automobile collisions and so much more. In the years since we opened our doors, we’ve had the opportunity to argue cases in front of some of the most influential judicial bodies in the state of Kentucky, including the State Supreme Court.
When you need legal experts as talented as they are committed to your case, call on Oakley & Oakley LLC.