Tucson, Arizona, United States - July 20, 2022 —
Estate planning mistakes could add confusion, misery, and discord among family members, Tucson Estate Planning Attorney Doug Newborn said this week.
For more information please visit https://dougnewbornlawfirm.com
The Founder of Doug Newborn Law Firm, PLLC, said basic errors, from forgetting to make a will to failing to sign one and failing to get the proper number of witnesses, could seriously compromise any estate planning decisions a person wishes to be undertaken when they have died or become incapacitated.
Anyone drawing up a will should pay particular attention to detail. Usually, one making a will should sign it in the presence of two witnesses, who also counter-sign it in the presence of each other. Failing to do so could invalidate the will, and those wishes might not be carried out.
Newborn said: "All signatures should be notarized to make it easier for the will to be admitted to Probate without having to locate the witnesses after your death."
He added: "A will should be seen as a living document, but forgetting about it is commonplace. After establishing a will, continually review and update it if anything changes in your life or you receive new assets. As law and legal strategies are always changing, ideally, reviewing your will every three to five years is best. That said, if you need to make changes, don’t simply cross things out on your will or write in your changes on the margins because those ‘pen and ink’ changes likely won’t be recognized in Court.”
Newborn advised that people often make the error of assigning assets or property under beneficiary designations and then listing someone else as the beneficiary in their will. "When it comes to making your will, you should only include property and assets that belong to you. Assets jointly owned will not pass by your will but to the surviving joint owner.’’
"Also, you shouldn't include assets or property with designated beneficiaries such as ‘payable-on-death’ or ‘transfer-on-death.’ Talking with an experienced estate planning attorney can help avoid these mistakes.”
He said: "Those assets will pass by the beneficiary destinations, not the will. Any conditions you set out for assets that already have designations or are jointly-owned will not be recognized in the will."
Failing to consult an Elder Law and Estate Planning attorney is probably the biggest mistake to befall anyone making a will.
He said: "Many factors need to be considered and can easily be overlooked without the help of a professional. A will covers many areas, from funeral arrangements to the care of children, and not just assets.’’
"An attorney can also advise on the need for contingency plans in a will if you become incapacitated, or the benefits of creating a Trust instead of just a will."
Source: http://RecommendedExperts.biz
Contact Info:
Name: Doug Newborn
Email: Send Email
Organization: Doug Newborn Law Firm, PLLC
Address: 7315 North Oracle Road, Suite 230 Tucson, AZ 85704
Phone: (520) 276-0236
Website: https://dougnewbornlawfirm.com
Release ID: 89078456
If you detect any issues, problems, or errors in this press release content, kindly contact error@releasecontact.com to notify us. We will respond and rectify the situation in the next 8 hours.
