Your estate is everything you own, your assets and liabilities. This includes things such as your house, accounts in your name, your insurance policies, and vehicles. The problem with dying without an effective estate plan is that even if your property is distributed to the proper people via a Wyoming probate court, it may cost your heirs up to 10% of your assets’ net value. Also you must take any children that you are the legal guardian of into consideration. If you do not have an estate plan it may be probate court that decides who looks after them after them after you are gone.
You don’t want to let this happen to you and your family. You need an estate plan to avoid Wyoming probate. Now, in order to start estate planning you are going to need to look into the following options: living wills and revocable living trusts in Wyoming.
A living will is a document in which you can spell out where all of your assets will be going. You may also modify this document at anytime. You are the one in control. This is a great way to avoid Wyoming probate court.
A Wyoming living trust allows you to name a person who will handle all of your legal affairs after you pass away. Your trust may either be revocable or irrevocable. Revocable means that, just like a living will, you can modify it at any time. However, in an irrevocable living trust you do not have the ability to change it.
Learn more about wills, Wyoming living trusts and the Wyoming probate process by downloading my FREE estate planning and living trust program. Get the information you need to make solid decisions that will work best for your circumstances, protecting your assets and your family’s best interests. Start today: download the program now.