We are committed to giving each of our clients the attention they deserve and can explain all of your options when creating wills in Winston-Salem.
Everybody should have a will. Wills are legal documents through which a person expresses his or her wishes as to how his or her assets will be distributed at death, and names somebody, an executor, to manage the estate until its completion. While nobody likes to think about death, it is always a good idea to plan ahead and make sure your assets are distributed to the intended people, as well as avoid confusion and family disputes.
At Meadows & Aderhold, P.A., we know that creating estate planning documents often isn’t high on the priority list for many individuals. We believe, however, that having a will is one of the most important things you can do for yourself and your family.
There are two types of wills that make up your estate planning documents:
- Living Will – A living will, also known as an Advance Directive for a Natural Death, is a document that expresses what forms of medical treatment you want to receive when you are faced with certain end-of-life medical conditions. The three main medical conditions that cause a living will to become effective are as follows:
- You develop an incurable or irreversible condition that will result in death within a relatively short period of time.
- You become unconscious and your health care providers determine that, to a high degree of medical certainty, you will never regain consciousness.
- You suffer from advanced dementia or another condition which results in the substantial loss of your cognitive ability, and your health care providers determine that, to a degree of medical certainty, this loss is not reversible.
When you sign your living will, you state your intentions as to whether you want your life prolonged if you have one of the foregoing conditions. Because such end-of-life decisions are often difficult for family members to make on your behalf, we suggest using a living will to put your wishes in writing while you still have the ability to make the decisions for yourself.
- Last Will & Testament – The more well-known of the two will types, the last will and testament provides guidance to your family and loved ones upon your passing. It may designate specific beneficiaries and other final arrangements that are important to you.
Your named executor will manage your estate until its completion. Additionally, if you have minor children, you can name a guardian or guardians to care for your children following your death as well as establish a trust to provide the necessary financial support for your minor children. By using a trust, you can provide for the care and financial support of your minor children until they reach a certain age. You will feel relieved once you have executed your will because you know that your family will be taken care of following your death.
At Meadows & Aderhold, P.A., we are committed to giving each of our clients the attention they deserve and can explain all of your options, so you can make informed decisions. Whether you need assistance with wills, powers of attorney, medical directives, or other estate planning documents in the Winston-Salem, North Carolina area, our experienced team will help you achieve your goals. Contact us today to schedule a consultation.