That is the question of many clients. You have taken the time and gone through the trouble to set up a gun trust. Said trust will take care of the firearms owned in it, and will pass those down according to your instructions. With that taken care of, should you consider adding a Last Will and Testament to your estate plan?
In a word: Yes.
A Will is a necessity if you have any assets to pass on or unfinished business to handle. And most of us fall into both of those categories.
A Will allows you to name a guardian for any minor children. You can divide assets and delineate who takes ownership upon your death. You can make arrangements to pay any debts you have outstanding. And finally, if your situation warrants it, you can establish a more general trust to hold assets for beneficiaries who need a little extra help managing the property.
A Will allows for a clean and ordered closing of business and transferring of property after your death. This is a stressful time for your family, and guidance left behind by you will make the work easier for your family. This is especially true where you leave behind multiple heirs.
But is that all I Need?
Unfortunately no. You should consider setting up a Durable Power of Attorney and a Health Care Power of Attorney. These documents name an agent who can handle your business when you are unable. This is extremely important if you become ill, are involved in an accident, or become unable to handle your affairs due to age.
These are documents that can be implemented at any time, as long as you are competent. All too often, people wait until they are no longer competent before realizing the need for such documents. Once that happens, an expensive and cumbersome Court Order is necessary to accomplish the job. Here, as in many cases, an ounce of prevention is worth a pound of cure.
How can you help?
Repeat clients are my favorite. I already have familiarity with your family, and your return business is a vote of confidence in the services provided. Thus, I am always happy to help clients handle other matters.
To handle the issues discussed above, I offer a Wills Package which includes the Will, Durable Power of Attorney, and Health Care Power of Attorney. I enjoy sitting down with you and your spouse and discussing your plans for the future and how we can make those happen. I’ll help you consider ideas and angles previously unexplored, and once everything is finalized, I can draw up the papers for you.
It’s never too early to consider your Will and other such documents. If this has crossed your mind, please reach out to me today, and I will be happy to help you take this off your to-do list.