For some years, creating an estate plan may have been the last thing on many Connecticut residents’ minds. However, maybe recent events or personal experiences have caused them to think more seriously about taking steps to get their final affairs in order. Some people may feel a bit intimidated by the process, but creating a will is a fine place to start.
A will is the cornerstone of many people’s estate plans. This document can serve purposes that other estate planning tools cannot. For example, many new parents have decided to create their estate plan because they want to ensure that their child is well taken care of. This is a perfect reason to create a plan, and their will can allow those parents to name a guardian for their child in the event of their untimely passing.
A will is also the document used to name a person to manage the process of closing an estate after a person’s passing. This appointed individual, known as the executor of the estate, will have numerous responsibilities, including handling final financial matters, protecting assets and distributing those assets when the time comes. Because this is such an important role, individuals will certainly want to make sure that they take advantage of the opportunity to appoint a trusted person.
Though some people may be put off by the idea of thinking of their eventual demise, creating a will could be a liberating experience. Connecticut residents may find themselves feeling more at ease knowing that their wishes are formalized and will be honored when the time comes. If individuals are ready to get started on their documents, they may wish to contact estate planning attorneys for assistance.