Many people feel overwhelmed at the thought of creating their will. No one wants to think about their death, and creating a will makes this reality a little too prevalent for some. However, these decisions are extremely important to make while you can, and these couple of hours that you pour into forming this will can save your family years of stresses and arguments after you pass. When you meet with your estate attorney in Longmont to create your will, it is important that you consider these assets, and how they should be distributed after your passing.
Home
A house will likely be the most expensive purchase you make in your entire life, and this will also make it your most valuable asset. Because of this, it requires a lot of thought when considering who of your loved ones might inherit it. If you have multiple children, you may consider giving each of them a portion of ownership so they can all sell the house together and collect their share of the money. You may instead, consider giving one the home and giving others various assets that add up to the worth. Every situation is different and every family handles this distribution in the will differently.
Vacation Homes
Like a family home, vacation homes take a lot of consideration when deciding who should inherit them. In some cases, a family’s vacation home could be of equal, if not more value, than the family home. Some families choose to give one kid the family home, and the other the vacation home. Once again, distribution and even preference can differ by the family and the number of inheritance.
Jewelry
Whether the jewelry has been passed down for generations, or it is a brand new pricey set, this is a huge asset that every family needs to consider for their will. Jewelry can have both sentimental value and actual value to the family, and it is important that it be evenly distributed among family members in order to avoid any quareels or disagreements between family members after your passing.
Heirlooms
Every family has their list of heirlooms. Like jewelry, some of these have actual, value and some are priceless with sentimentality. The main goal of the will for these is to ensure that they stay in the family, so you will want to give it to the people that you believe will most value it.
Planning for your own passing, or for the passing of a long one can be overwhelming. Take some of this stress off yourself by considering all of your assets before you even meet with the estate lawyer in Longmont.