If you want to know what the best way to leave money in a will is, we will tell you, but only to give you an idea of what the most crucial steps during estate planning are. That is only one part of it though. Make sure that you hire a reliable estate planning attorney near your location, as they will provide invaluable advice during the process, lend their expertise, and counsel you on the most common estate planning mistakes to avoid. But, let’s start with our quick guide on how to make sure your money will be distributed properly.

Why do I need assistance at all?

People often doubt if they should hire a probate lawyer. They wonder about the actual responsibilities of a probate attorney, and whether they should hire a trust and estate planning attorney in their area at all. Well, although you can probably find your way on your own, it’s a lot easier, safer, and full-proof with an experienced professional by your side. And here’s why.

An experienced lawyer can not only advise you on the best way to leave money in a will, but he or she can also help you with the often overwhelming bureaucracy involved in the process. It’s as simple as that. You will avoid unnecessary additional burdens, and ease the already stressful and draining process. It’s not only because of the knowledge these professionals bring to the table; it’s also about the peace of mind they provide.

Now, let’s move on to the steps you should take when creating the best way to leave money in a will. Again, you can do it on your own, but we heartily suggest hiring a professional to at least oversee and check the work you’ve done.

Make a detailed list of the beneficiaries

Once you’ve decided on drafting a will, the first thing you have to do is make a detailed list of all the people you’d like to benefit from your estate. This is a crucial step in dividing your assets, be they real estate or monetary.

This is a vastly important beginning of creating a will, because finding the best way to leave money in a will often means choosing the right people to leave your money to. You know who you love, and it’s family, friends, or perhaps a charity organization. Whatever your choices are, make them wisely, and then work from there.

Investigate your current financial situation

Next, you should know, again, in great detail, just how much money you’ve currently got at your disposal. This usually means funds in your savings account. However, you should also consider your movables and immovables as well. Although not exactly money, they are certainly worth a hefty penny, and should in no way be excluded from the process of looking for the best way to leave money in a will.

The most common things people take into account when investigating their financial situation consists of their pension, savings, private business, various investments on the stock market, and the aforementioned properties. So, think about everything, and think about what you would like to leave to those nearest to you.

Splitting your money and property

Which brings us to our next point. Dividing all your assets, including money, is the most difficult task you will face when creating a will. First of all, it is legally challenging. You could easily get tangled up in all the red tape and lose your way during this step. It is because of this that many people choose to hire professional legal assistance, so as to discover what the best way to leave money in a will to all of their beloved is.

Secondly, it is emotionally draining, both to you, and to those you plan on leaving behind. Not only is this the part when all the emotions start pouring out, but there is another aspect you may not have considered. If this part of the will is not done adequately, it might cause lengthy probations and legal proceedings for your loved ones. In order to prevent that from happening, it is paramount that you focus all your efforts during this decision, and, if necessary, ask for legal advice.

Protect your beneficiaries

Lastly, there is one final precaution you can take if you want to completely protect your beneficiaries. You can set various safeguards for the inheritance, and it is usually a good idea if you’re leaving money or other assets to children under the legal age, or people with various health issues.

Most people install these safeguards by creating a trust that will manage all the money and assets once the will comes into effect. You make up a trust from people you can rely on and trust, and grant them the power to act in the best interests of the people who are to benefit from your will.

Looking for the best way to leave money in your will? We can help you find it!

Irina Sherbank is the most experienced trust and estate planning attorney in San Diego. She has used all that experience when picking the team to work alongside her at the Law Offices of Irina Sherbak. You can rest easy knowing that all your estate planning proceedings will be dealt with in the most comprehensive and dedicated manner. If you need any professional advice when drafting a will and looking to distribute your assets, you can rely on us to ease your path. Contact us today.