How to Take Control of What Will Happen to Your Property After You Pass

What will happen to your property after you have passed away? Estate planning expert Taylor Willingham joins us today to discuss this crucial subject.

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Have you ever considered what will happen to your property after you pass away? The transfer of real estate isn’t likely the first issue that comes to mind when you think about this aspect of life.

Such issues may feel uncomfortable to think about, but are important to plan for nevertheless. Recently, Taylor Willingham, an estate planning attorney with the Willingham Law Firm, joined me to discuss this crucial topic.

As an immigrant, it surprised me to find out that property owners in the United States can decide how to pass on the property by creating a will or trust.

There is a default option if neither of these documents is created before a person’s passing, however. These default rules are called intestate succession laws, and they vary between each state. 

If a trust or a will has been left behind, though, then that will serve as the guiding document for the division of the decedent’s property. That said, these two documents are not the same thing.

A will can be thought of as a “death deed.” It indicates what the decedent intends those they are survived by to inherit or carry out after their passing.
To ensure your property is distributed per your intentions after your passing, talking with a professional is key. ”A trust is a lot more complex, and it indicates the decedent’s wishes in the event of many different scenarios. For example, a trust might stipulate something like what the decedent would want to happen in the event that their child became disabled.

To ensure your property is distributed per your intentions after your passing, talking with a professional is key. Estate planning attorneys like Taylor will be your best resource in navigating this process. Taylor has created over 10,000 estate plans and would be happy to help you with yours. To get in touch with him, you may call his office at (214) 250-4407 or visit his firm’s website: www.willprobateattorneys.com.

And, as always, if you have any other questions for me about real estate or any other topics, feel free to give me a call or send me an email. I look forward to hearing from you soon.