Montana Estate Planning
What is an Estate? Do I have one? Yes, you have an estate. Your estate is basically the property you own.
What is Estate Planning? Estate planning is the act of determining what happens to your estate after you’re gone. An estate plan can be a simple two page will or an intricate web of multiple trusts. Simple or complex, when it comes to the end-of-life decisions, we believe it is important to prepare.
When is the right time for me to think about estate planning? You should think about estate planning after any major life changing event: when you turn 18, a marriage, divorce, birth of a child or grandchild, relocation, change in financial circumstance, or change in employment. You should also rewrite your estate plan if it has been more than seven years since you last revised your plan.
Who should have an estate plan, will or trust? Everyone over the age of 18 should have an estate plan. There is a widespread misconception that only the wealthy need an estate plan. In fact, an estate plan is for anyone who wishes to provide for his or her survivors. If you pass away without a will or other estate plan, the laws of the state will take over, and these laws may not reflect your wishes or provide for the ones you love.
When is it too late to draft a new will or other estate planning document? To draft a will you must have testamentary capacity, which means an ability to understand what it means to create a will, what property you own, who would naturally be your beneficiaries, and the terms of the document when you sign. You can be elderly and you can be sick, but as long as you have capacity and there is no undue influence placed on you, you can draft a new estate plan.
If you are looking for the best Montana family law attorney, the best Montana estate planning lawyer, or the best Montana business law attorney, you'll want someone with experience. Contact Matrium Law Group to discuss your options today.