A will is a written document that contains instructions as to how and to whom you want your property divided upon your death. Instructions and bequests can be specific or general. Additionally, a will can provide for multiple events such as naming a guardian for minor children. A will is only effective upon death and can be modified multiple times throughout an individual’s life. Examples of when to modify one’s will is during separation, divorce, the birth of a child, or the death of a spouse. There are many things to consider when drawing up a will, such as:
- Who will inherit first, second, and third
- Typically, individuals name their spouse, children, grandchildren, then a charitable organization. However, we understand every family is unique and their estate plan should fit their specific needs.
- Who will manage your estate through the probate process
- Typically, individuals name a family member who is good with finances, have the time to devote to the estate administration process, and have impeccable organizational skills. If your attorney is willing, individuals may also name their trusted attorney or law firm to manage the estate administration and probate process as well.
A will can contain no-contest clauses. A will can also disinherit individuals. Typically, a spouse cannot be disinherited entirely as North Carolina has statutory protection for spouses. If you or your loved one would like to discuss the estate planning process or have questions regarding your legal rights with regard to a will and/or estate, please call 828-254-0499 for a complimentary 15 minute consultation.