A will is a tool used to solely distribute a person’s assets, but wills can achieve more. Wills can be used to appoint guardians for your dependents, implement testamentary trusts and provide the peace of mind that your family and loved ones will continue to be protected long after you are unable to provide for them. You can also use a living will to create advanced health care directives to instruct doctors and loved ones how to handle any health events that result in your incapacitation.
It is also a common misunderstanding that a will is only needed for the elderly. While they are most immediately in need of a will, younger familie could also benefit from creating a will at any time to prepare for an unexpected event. Huelat & Mack P.C. is located in La Porte Indiana and we have over 125 years of combined experience when it comes to wills, estate, & probate matters.
Different Types of Wills
A will is the legal instrument or a tool that specifies how property is to be distributed after a person’s death. If a person dies without a will, the person is said to have died “intestate.” When a person dies intestate in Indiana, state statutes prescribe how the person’s property is to be distributed, and the wishes of the decedent are not considered.
A Living Will – A living will (often called a “living will declaration”) is a legal document that specifies a person’s desire for end-of-life care when the person is facing a terminal illness or medical event and is unable to communicate with others.
Simple Wills – The primary beneficiary is named along with someone to serve as Executor of the Will. In most cases a contingent beneficiary is named in the event that the primary beneficiary predeceases the person making the will.
Complex Wills – Involves multiple levels of contingent beneficiaries, Trusts and detailed plans for various assets of the person making the will. In all cases, wills have many technical requirements which must be met in order for the will to be valid & enforceable.
Making Changes To Your Will
You can and should amend your will to account for family & financial changes. Updating your will after a new marriage, divorce or the birth of a child, sets your wishes for the appropriate parties. At Huelat & Mack P.C., we can make sure that your revisions are legally recognized to protect you and your family. Contact us today & schedule an appointment.