Personal Property
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Heirs vs. Beneficiaries: Who Inherits a Loved One's Estate?
The distinction between an heir and a beneficiary is particularly important because they may receive estate assets in different ways.
Personal Property
Creating Your Will With LegalShield
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Creating a Will
A majority of Americans don’t have a Will. One of the top reasons? It’s too overwhelming and complicated. Although Wills are arguably one of the most important legal documents in an average person’s lifetime, most of us fail to complete one before passing away. We get it. It seems like a daunting, intimidating task. But making a Will is necessary.
When you pass away without a Will, you have no control over where your assets go, or, even scarier, who will care for your minor children. That power now belongs in the hands of your state court system.
With a LegalShield Membership, you have access to an estate planning benefit at no extra charge. Fortunately, our process is very simple and streamlined.
Issues to consider related to a Will
While you aren’t required to have an attorney create your Will, it is recommended. An attorney will help ensure that your Will is accurate, complete, and adheres to your state’s laws. Some issues you may want to consider when completing a Will:
- Who you will want to receive your estate which may include a house, money, and belongings?
- A designated Executor/Personal Representative: This is the person who will ensure your wishes will be carried out, so make sure you pick someone you trust. Let the Executor/Personal Representative know where your Will is kept, so they can access it should you pass away.
- An appointed guardian if you have minor children: This is probably the most essential aspect of the Will. Without a Will, the decision of who will be your children’s legal guardian will be in the hands of the state. Be specific about the scenarios that could happen. For example, designate what would happen if the couple you have chosen gets divorced, passes away, etc.
- To make sure the necessary requirements are met based on your state: Depending on where you live, what is required to execute a Will may vary such as who can qualify to be a witness and the number of witnesses required.
- The spelling and names: Don’t simply say “my child” or “my wife”—list everyone’s full names clearly, and spell everything correctly.
Process for LegalShield members
One of the biggest perks of being a LegalShield Member is the estate planning benefit. For no extra charge from your monthly subscription, you have access to an estate planning attorney who will create and finalize your Will with you within just a few weeks. The process is simple and quick:
- Answer a few questions on your LegalShield App or by paper: Within our app, simply go to the “Start Will or Other Document” tile and fill out a brief questionnaire about your marriage, what assets you own and any end of life requests you have. Then, “Submit to Provider”. This will send to a provider law firm to review and start drafting.
- Go over it with your lawyer: Once you complete the questionnaire, a lawyer will call you and review your questions with you, or ask any additional questions they might have.
- Receive your drafted Will within two weeks, then make sure to follow the instructions of your provider attorney to have the documents properly executed. If you have any questions or need further assistance, you should contact your provider attorney.
Speak with a LegalShield attorney and create your Will
By becoming a LegalShield Member, you have access to a provider law firm that can assist you with your estate planning, plus any other personal legal matter you come across.
Get the Answers You Need, When You Need Them
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