When you visit a trust lawyer in Longmont, you likely have a lot of decisions to make. This future planning can be overwhelming, but it is incredibly important in order to help ensure that the right things go to the right people after your passing. When meeting with an attorney to form your own, there are a few important things to consider.
Shared versus Individual
One important thing to consider it is the two main options you have. This often comes into play when a person is married. If you are married, then a shared option will likely work better, as the option will be divided between you and your spouse both, and you can both play a huge role in the decisions that must be made in regards to it. If you are not married, or if you are your spouse are separated, then an individual option may work better for your needs and assets.
What to Leave
People collect a variety of funds and assets over the course of the life. Since you cannot take these with you when you pass away, you must decide who to leave them to. If you choose to leave the assets in this from, then it is important that you decide what items belong in your trust. Most people choose not to put all of their property into this firm, but instead only leave the big items, using this means to avoid probate.
Who to Leave it to
Different people will value your assets differently. While one family member may truly cherish your house and the memories made there, another might value the family jewels a little more. When making these decisions, it is important to consider who would value the items involved more, and what assets should go to each family member based on who you might believe would most value each item. These decisions can be hard, but they are extremely important in order to avoid chaos after your passing.
Who Will Manage it
Many people find it extremely beneficial to find a third party, someone who has no stake in the matter to manage these assets after their passing. This person will be called the successor, and it will be their responsibility to distributor the assets to the parties based on your expressed desires.
No one wants to think about what will happen when they pass away, both to their family and their things. Unfortunately, this is a sad reality, and it is better to leave your family prepared after your passing, than to leave them with a huge mess to clean up. This option helps to make the distribution of your assets much easier.