Wills & Trusts Attorney in Louisville
Plan for the Future with Help from Bowman Legal
It is never too early to start thinking about the future. Establishing a will is something we all put off. However, we don’t know what the future holds, and you want to be sure your family is prepared and taken care of in the worst-case scenario. Establishing a will is one of the most important things you can do for your family. Our Louisville wills and trusts lawyer has extensive experience helping clients develop and update their wills. We can use this experience to help you.
Why You Need a Will
If you die without a will, your estate will become intestate. This means that the state of Kentucky will be in charge of the division and distribution of your assets. This can be a frustrating process for family members, and it is not likely that the state will distribute your estate in the way you would prefer. With a will in place, you can avoid this process and ensure that your estate is handled per your wishes.
A will can identify:
- How your assets will be divided and distributed
- Who will take care of any minor children you may have
- Who will take care of any children with special needs you may have
- What happens to any property you own
- What happens to any businesses you own
- Any charitable donations you wish to make from your estate
- Who, if anyone, should be barred from inheriting from your estate
Planning for the future is an essential step in preserving your estate for future generations. Many people assume only the extremely wealthy need wills, but this is not the case. Everyone should have a will in place. In addition to identifying how your estate will be inherited and by whom, your will also offers you the opportunity to outline any funeral and burial wishes you may have, and to set aside money for the associated costs. Working with our team can bring you peace of mind knowing that the future is secure.
We Can Help You Establish a Trust
Wills are an excellent first step in estate planning. However, many people should also consider incorporating trusts in their estate planning. Trusts often allow you to avoid the probate process and expensive estate and inheritance taxes. With a trust, you name a beneficiary, and then your estate is managed by a trustee. Trusts can be very flexible and designed to suit your needs. For example, some trusts can be established in which you maintain control of your assets during your lifetime. Our Louisville trusts and wills lawyer can help you identify what is best suited to your estate planning needs.