The distribution of an estate is determined by the terms set out in an individual’s will when that person passes away. Well-drafted wills provide security to survivors, ensuring that assets and possessions are distributed according to the wishes of the deceased.
So, exactly how does a simple will distribute assets? When a person makes a Will, they specify which beneficiaries will receive specific assets or portions of their estate benefits may include family members, charities, friends or other organizations. How these assets are distributed depends on the language of the will and how the document is structured. Generally speaking, wills are revocable or irrevocable.
The difference between the two
A revocation will give the individual more control over how their estate is managed when they die. It allows individuals to change or revoke designated beneficiaries at any time while the person is still alive. An irrevocable will cannot be changed or canceled once it is made and signed.
It is important to understand the difference because there may be tax consequences to certain distributions of property described in a simple will. The explanation may be something other than what an online template gives. Therefore, it makes sense to have a lawyer explain the differences and help create the document. Group legal plans will usually offer simple wills as one of the services. Nationwide Prepaid Legal Services offers a premium option with a little extra.
Very experienced lawyers
Countrywide recruits lawyers based on their proven legal expertise and their level of emotional intelligence. There must be a combination of knowledge and empathy to work with Countrywide.
Our lawyers will go over the differences between revocable and irrevocable wills. They will go one step further. The nationwide lawyer is as much a teacher as a lawyer. The professional will explain the importance of appointing a good executor, define exactly what each beneficiary will receive and how exclusions are defined. Our attorney will ensure that the document complies with state law and is properly recorded. Even a simple six-pager will be difficult for a group member to understand. Prepaid legal services include making unlimited phone calls to a lawyer about a particular matter.
In addition, we will provide annual reminders so that a legal plan team member can make the changes necessary for new circumstances. Depending on the plan, a nationwide attorney can review existing wills and other legal documents.
The customer decides the plan
We have been offering prepaid legal services for over 30 years to various organizations. We know that every employer has unique needs and want to design it to meet those concerns perfectly. Countrywide will explain all its benefit options for group legal plans to management to potential customers. We answer all questions, and then we stand back.
Management will then decide which benefit options will be included in the group’s legal plan benefits. We will not try to promote one service over another. What the customer wants is what will be in the final document. Nationwide provides streamlined administration and superior member benefits. We also maintain close communication with our customers, to ensure that there are no problems and that services are provided promptly.
Having estate documents drawn up properly ensures that individuals’ wishes are followed after they are gone and that loved ones would not have any unnecessary stress trying to figure out what the deceased wanted to do with the estate. The prepaid legal services Countrywide offers provide an airtight will and eliminate a number of headaches.
Countrywide has a mission to make life as easy as possible for customers and their employees. Our services help manage everyday legal issues.
If you have any questions about Countrywide or what we can do for your employees, please feel free to contact us at your convenience. We welcome any opportunity to explain how we can help your employees.