Wills and Ways to Get Yours Written
Your Last Will and Testament protects and preserves your assets and makes accommodations for those you love. While there are several types of wills, it is critical to have a legally valid one that meets your individual needs and clearly conveys your intentions. You may need a basic will that can be crafted inexpensively from your home through an online legal service, or you may need an attorney to ensure your will is not only thorough but also ironclad.
Your will addresses the transfer of all tangible, intangible, and digital assets that you hold, leaving no questions about your intentions. It also names the guardian of your minor children, the executor of your estate, and to whom your pets would go. When you do not have a legally valid will in place, the court uses a standard set of criteria to appoint an executor for your estate, and to distribute your assets to your next of kin.
The Commonwealth of Kentucky recognizes holographic wills—wills that are handwritten and do not require witnesses (KRS 394.040). However, this type of will is easily contested and often denied probate because there are very specific requirements that allow your will to proceed through probate, that are often left out of a handwritten will. With a number of excellent virtual legal services available at nominal costs, having a holographic will today is ill-advised.
Online legal services, like Rocket Lawyer, LegalShield, and FreeWill are often go-to resources for individuals who are crafting basic wills. All these services have staff attorneys who oversee the template documents. These templates include language and requirements specific to the Commonwealth of Kentucky, or to the state where you reside. These are low-cost, no-cost ways for you to create your first will, especially if you are in the stage of life when you are beginning to build your assets and acquire wealth. For those currently without a will, with modest estates, and without anticipated family disputes about your intentions, creating a will through an online legal service can be a cost-effective and easy way to protect your assets and especially your loved ones.
Many people feel most secure when they retain an attorney to properly draft and execute their will. When you want legal expertise to write your will, retaining the right type of attorney becomes an important decision—do you need a family law attorney, an estate planning attorney, or one practiced at protecting your assets for your surviving spouse when there is a terminal diagnosis without long-term care insurance. Most attorneys offer a package consultation, to produce the three essential documents you need, for one price. Many attorneys, especially those at our larger law firms will also serve as the executor of your estate, although this is typically retained at an hourly rate, and therefore can be costly for the estate.
Ultimately, having a legally valid will in place today is critical. It is relatively easy to do, either online from your home or with your trusted attorney. Most wills can be crafted in little time, and it does not have to be expensive. For advice on which type of will meets your unique needs, how to choose the best executor of your estate, or to discuss a referral to an attorney who understands your specific interests, email info@bluegrassfinalmatters.com.