Legal insights and tips from the veteren Attorney of 40 years.
LAST WILL AND TESTAMENT
Everyone should have a Last Will & Testament, a durable Power of Attorney, and a Living Will, and should renew them every 5 years or sooner if there is a significant event in your life or family.
However, the 2nd most important part of an estate plan is having same in a safe, secure place that all of your loved ones know.
Your loved ones do not need to know not know the particulars of your estate plan but, they must know where your Will, Power of Attorney and Living Will are, when needed.
There is nothing more unfortunate than to see a family that cannot locate the Last Will & Testament or an unscrupulous, greedy family member who has done away with it.
You should place your will in a lock box that can only be opened by your spouse or by Court Order. Your loved ones need to know the location.
Some attorneys will keep your Last Will and Testament in their fireproof vault to be released only on your death. We do not recommend placing your Last Will & Testament in your home due to fire, loss, theft or pilfering by greedy relatives.
Be forewarned. I have seen many Last Will & Testaments leaving property to children disappear with the presence of a new wife or child left out of a will. Also beware of undo influence used to make a new will leaving out all or some of your children.
For a meeting with one of our lawyers, call our office in Corbin at 606.528.5001. Personal injury and bankruptcy clients are entitled to a free initial consultation. We maintain flexible office hours to accommodate your needs.
Please Note: David Smith, Marcia Smith are independent attorneys with individual areas of practice.