Have a Question?
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Below we’ve collected some of the common questions we receive. Don’t
see what you’re looking for? Just give us a call and talk to an
attorney about your situation.
How often should I update my will?
If you experience a major life event, such as a marriage or the birth of
a child, it may be time to update your plan. Estate planning is an ongoing
process; the best plans are constantly evolving. By maintaining an up
to date plan, you can help ensure your wishes are carried out as you intend.
Is there more to an estate plan than a will?
It is true that a will can dictate what happens to property, name an executor,
and name guardians for children; however, there is much a will cannot
do. It cannot leave burial instructions, avoid probate, set certain conditions
on asset transfers, or reduce certain taxes. To learn how to best plan
for your situation, give us a call.
What’s in my estate?
The idea of an “estate” can call to mind extravagant mansions,
luxury vehicles, and expensive antiques. However, the truth is that everyone
has an estate made up of their assets, legal rights, and entitlements.
Decisions regarding who cares for your children, who makes choices for
you should you become incapacitated, and how your belongings are distributed
can also be included in your estate plan.
How can I update my will?
There are two main paths to updating your will. You can write a codicil,
a document which acts to amend, add, or remove one or more provisions
in your will. In many ways, writing a codicil is similar to creating the
will itself. The other option is to replace your will in its entirety
with a new document.
Can I exclude relatives from my will?
Yes. Your will acts as your voice after you’re gone. It should dictate
how you wish your estate to be handled, within the bounds of the law.
You can exclude relatives from your inheritance, you can create conditional
clauses, and in some cases, you may even elect to disinherit a child.
What tax concerns should I be aware of?
Creating a will can be complex, and if you’re not careful, your assets
may be taxed more than you’d like. Our firm is highly knowledgeable
of the law and can help you understand and tax avoidance options such
as the Generation Skipping Transfer Tax (GSTT) and explore options such
as the Qualified Domestic Trust (QDOT)
What are common reasons for an estate dispute?
Disputes can occur for any number of reasons. An ambiguity can lead to
a conflict between two inheritors over who gets what. There may be a disagreement
over whether a will is valid. If you think a mistake has occurred, or
someone has acted unlawfully, call Finley Williams Law, PA immediately.
Can I appeal the court’s decision?
Depending on your situation, yes. For example, if you believe the court
made an error or made a decision without all of the information, an appeal
might find success. Of course every case is different and only an attorney,
like those from our firm, can help you to understand your options.
What is probate?
Probate refers to the process of inventorying, appraising, and distributing
a person’s estate after their passing. If a person has a will, the
items contained within it will almost certainly go through some form of
probate. Our firm can help you understand your options during this difficult time.