Law Office of Curtis W. Patteson, LLC
An Experienced Estate Planning Attorney Serving Anchorage And Beyond
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A Blog About Estate Planning In The Anchorage Area

What to know before creating a do-it-yourself will

A will is the foundation of an estate plan. This allows you to preserve your legacy and document your wishes to pass down property and assets to your loved ones.

However, nearly 70% of Americans today fail to write a will. Reasons for this include never getting around to it, putting it off for another day, assuming it is unnecessary for their estate and more. With such statistics, the rise of do-it-yourself will options may seem both inventive and practical. However, what should you know before creating a will on your own, online or more?

Estate planning considerations when you have minor children

It is often a prudent idea for parents of minor children to create an estate plan. However, estate planning can be more complicated when there are minor children involved.

If you die unexpectedly, your children may need someone to make decisions for them in probate, may need someone to care for them and may need someone to manage any money they inherit. If their other parent is still alive, he or she can take on these responsibilities. However, if the other parent is determined to be unfit or if both parents die, other adults may need to fill these roles.

What to include in an estate plan after a second marriage

After a divorce, you may have felt like you would never meet someone to share your life with again. But then it happened, you found a new partner, and you are excited about building your life together.

Now that you are a little bit older and wiser, you may have realized your new marriage will require a thorough review and a reconfiguring of your estate plans. Here are the things you should consider when reviewing your estate plans after a second marriage.

What is the difference between a will and a living trust?

When you have worked hard to earn and save money throughout your life it is natural to want to make sure you have control of your assets after you die. Even if you have lived as a person of modest means, you still have an estate. An important thing to ask yourself is, “Do I have the proper plan in place for the distribution of my assets after I die?”

Figuring out what that plan is will depend on your personal circumstances. For many people, a living trust is the most useful and practical. However, for some people a will is all they need. What is the difference between the two? Here is a breakdown of each.

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Law Office of Curtis W. Patteson, LLC
2525 Blueberry Road
Suite 102
Anchorage, AK 99503

Toll Free: 888-785-7545
Phone: 907-306-9166
Fax: 907-677-6006
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