How an Estate’s Assets are Distributed

The distribution of an estate is determined by the terms outlined in the will of an individual as that person passes away. Well-drafted wills provide certainty to those left behind, ensuring that assets and possessions are divided according to the deceased’s wishes.

So, how exactly does a simple will distribute assets? When a person drafts a will, they specify which beneficiaries will receive specific assets or portions of their estate beneficiaries can 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 revocable 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 has been drafted and signed.

It is critical to understand the difference because there may be tax implications for certain distributions of property outlined in a simple will. The explanation might be something other than what an online template will provide. Therefore, having an attorney explain the differences and assist in creating the document makes sense. Group legal plans will ordinarily offer simple wills as one of the services. Countrywide Pre-Paid Legal Services offers a benefit option with a little extra.

Highly Experienced Attorneys

Countrywide recruits attorneys based on their proven legal expertise and their level of emotional intelligence. There has to be a combination of knowledge and empathy to work with Countrywide.

Our attorneys will go over the differences between revocable and irrevocable wills. They will go one step further. The Countrywide attorney is as much a teacher as a barrister. That professional will explain the importance of assigning a good executor, defining precisely what each beneficiary will receive and how exclusions are defined. Our lawyer will ensure that the document is consistent with state law and properly registered. Even a six-page simple will be hard for a group legal plan member to understand. Pre-paid legal services include making unlimited telephone calls to an attorney about a given matter.

Furthermore, we will provide annual reminders so that a group legal plan member can make those changes necessary to new circumstances. Depending on the plan, a Countrywide lawyer can review existing wills and other legal documents.

The Client Determines the Plan

We have offered pre-paid legal services for over 30 years to various organizations. We know every employer has unique needs and want to draft it to meet those concerns perfectly. Countrywide will explain all its group legal plan benefit options to the management of prospective clients. We answer all questions, and then we stand back.

Management will then determine what benefit options will be part of their group’s legal plan benefit. We will not try to promote one service over another. What the client wants is what will be in the final document. Countrywide furnishes streamlined administration and superior member benefits. We also maintain close communication with our clients, ensuring that there are no problems and services are promptly provided.