Yuma Estate Planning Trust Lawyer | Probate Lawyer

This article was written by Ginger Applegarth and appeared on MSN.com. For the complete story, click here.

• Prepare your will. If you die without a will, your estate ends up in probate court and your heirs’ memories will not be as fond.
• Gather other important documents. If you’re 21 or older, make sure you have not only a will, but also a durable power of attorney and a health care proxy.
• Use estate-planning software to at least make initial preparations. Most of the software packages available today give you a good start. Completing the questions in the software program gives an attorney the necessary information and saves you time and billable dollars. If you create legal documents with a software package, make sure your attorney reviews them.
• Get your will notarized with the correct number of witnesses. Laws vary from state to state on this. No beneficiary should ever sign as a witness.
• Review your plan. If you already have an estate plan, you should always review your plan in cases of divorce, death of a spouse, adoption, birth of each child, moving from one state to another, receiving a windfall, getting married or remarried.
• Make a list of all your assets and all your liabilities. Your liabilities will have to be paid at your death. What’s left over, minus administrative and probate costs, is what your beneficiaries will get. Decide who gets what, and in what proportion.
• Name an executor who will manage your estate from the time of your death until the time that your assets are distributed. This is a big job, so make sure the person has the time and the ability to do it.
• Choose a guardian for your children.
• Have only one set of documents signed, witnessed and notarized. You’ll probably get duplicate copies. Keep the others for your files.
• Review your estate plan every few years, even if your situation is pretty much the same. Laws change constantly, and your planning may be out of date.
• Don’t keep your insurance policies in your safe-deposit box. This delays filing for death benefits.
• There are three kinds of joint ownership. If you die, your share does not automatically go to the other owner. Make sure you have the right kind of joint ownership for your needs.

It’s important to keep in mind that your estate-planning needs are probably much less complicated than they seem, even if they don’t include all the topics touched upon here.

This is why Yuma Estate Planning is here to help. Come in for a consultation. Our estate planning attorneys will review your invidual situation and guide you to the best solution for you and your family.

By now, most of us have heard about the tragic death of singer-songwriter Amy Winehouse. Winehouse was only 27 years old, however, she stabilized matters after death by having an iron-clad will, according to reports.

This article is by Ron Dicker from DailyFinance.com. See full article from DailyFinance: http://srph.it/nT8ofY

Despite the tumultuous life Amy Winehouse led in her 27 years, she managed to stabilize matters after her death with an ironclad will, according to reports. Let this be a lesson to both the famous and the obscure: A will is a good idea at any adult age.

“The issue is, you never know when you will pass away,” estate attorney Kenneth Meskin of Norris McLaughlin & Marcus in Bridgewater, N.J., told DailyFinance. “Particularly when you’re young and your life is unsettled, it may be more important.”

The question of who would reap the spoils from the singer’s creative output, which includes two albums and an as-yet-published third, had at first pointed toward her ex-husband, the jailed thief Blake Fielder-Civil. English law tends to favor an ex-spouse if no new will has been written since the divorce, according to Forbes.com.

But Winehouse’s most recent will did omit Fielder-Civil, the Daily Mail reported Tuesday, so her fortune, estimated between $9.8 million and $32.8 million, will go to her parents, Janis and Mitch, and her brother Alex. (The Mail put her assets at $16.4 million.)

The prospect of Fielder-Civil, who reportedly introduced Winehouse to hard drugs, benefiting from her passing was one of many uncomfortable scenarios that could have played out without a will in place. “I can envision that there’s a number of significant legal issues arising out of her assets,” said Meskin, who has no relation to the case.

But Winehouse made her wishes known in the most legally airtight way possible, and you don’t need to have royalties from a Grammy-hogging album like Back to Black to go the same route. A will is a commonsense precaution for grownups with something to lose after they’re gone. “The more assets you have, the more important it is,” Meskin said.

In this country, the states decide on the pecking order of beneficiaries in the event someone dies without a will, Meskin said. “Instead of you making your decisions, your state in which you reside makes the decisions.”

Here are a few other facts about wills that you should know:

• Any adult who is accruing assets should think about a will. But once you’ve accumulated $100,000 or more in assets, you should get serious about it, Meskin said. There are several do-it-yourself methods that can help. One reputable one is Quicken WillMaker Plus, sold at www Nolo.com for $41.99, according to Janet Novack of Forbes.com. If you have more than $200,000 in assets, seek the help of a professional, Meskin advised.

• One of the more important determinations in a will is the executor. This is the person you trust to carry out your wishes. Again, each jurisdiction has a designee in place based on familial relationships, if you didn’t choose for yourself. If the lawful order assigns someone you didn’t trust while you were alive, you’re stuck with that person when you’re dead. How’s that for resting in peace?

• It’s all about the kids. Perhaps the most important question you will face if you’re a parent is who would take custody of your minor children if both you and your spouse have passed. Put it in the will, or the court will decide. Getting that choice down in writing can eliminate the guessing, fighting and expense of a court battle, Meskin said.

On many fronts, having a will makes sense — even for those without a lot of dollars and cents. Said Meskin: “Those without significant assets should have their wishes known, or a court will decide.”