By: Phani Bobba
A will is a legal document that organizes how your assets will be distributed after your death.
A will is one of the most important things you must do for yourself and your family. It ensures that all your assets and belongings go to your family or the beneficiaries you choose.
If you are a business owner, a will can help ensure a smooth transition of those assets. If you have children, it ensures that you get to choose who will take care of your children personally and financially. A will guards your family against unnecessary confusion and anxiety during a difficult time.
Will-planning involves a detailed review of your assets and liabilities. Some questions to think about are:
Simply put, if you don’t plan how you want your assets distributed, your state of residence will decide for you based on its laws. The state’s process may not produce the results that you would prefer for your survivors. You can prevent the state from deciding by having a will drafted that reflects your wishes.
After reading this, you may have several questions. Consult our Chugh, LLP attorneys to get your questions answered and draft a will that protects your wishes. We work closely with our Certified Public Accountants to help you plan.
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