WHAT HAPPENS TO OUR ‘STUFF’ WHEN WE DIE

Typically when I sit down with new clients to discuss the creation of their estate plan, the discussion revolves around the two most common options - Last Will & Testament or a Revocable Living Trust. The best option will usually be centered upon the estate size, individual goals and family dynamics. Most families sigh a sense of relief once all the decisions are made and their plan is executed. For some these decisions have been weighing heavily on their shoulders for some time, and they finally made it a priority. However, once the plan is executed, are there any other decisions that need to be made? The answer is - Yes.

Who gets your ‘stuff’ after you die? What I find all too often are families telling me that “their kids get along and will figure it out when the time comes.” Unfortunately, what typically happens among families is the total opposite. When the loved one passes away, the ‘stuff’ is often fought over between the children or loved one’s left behind. These fights over the ‘stuff’ can leave families divided forever. In extreme cases, the families end up in court fighting over the tea cup collection and wasting thousands of dollars in the process.

To avoid possible heartache and turmoil within your family, it is important to write down who will receive your personal possessions before you become incapacitated or pass away. Don’t assume everyone will get along after you are gone – write it down today!

What the Attorneys of Morris Hall Can Do For You:

The attorneys at Morris Hall have 100’s of years of combined experience ensuring that families’ assets are protected from probate, unnecessary taxes, creditors, ex-spouses and Medicaid spend-down.  The attorneys also help those in Arizona and New Mexico to apply for and receive Medicaid assistance and Veterans Benefits.  Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Cave Creek, Tucson, Prescott, Flagstaff and Arrowhead.  Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe.  Contact us today at 888.222.1328 to schedule an appointment!

This blog should be used for informational purposes only.  It does not create an attorney-client relationship with any reader and should not be construed as legal advice.  If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.