The initial writing of your will or trust is not an easy or quick task. You probably took time out of several days to write down what you owned, your investment accounts and the cash you have. This is where wording matters. Not all legacies are the same when writing your will or trust, and you must ensure you have correctly written your wishes.
After someone has passed away, we often hear about their legacy – the legend of the person they leave behind. We talk about the impact they had on other people’s lives. But when talking about a will or trust, a legacy has an entirely different meaning.
When concerning a will or trust, a legacy is a gift you leave someone. And there are several types of legacies.
When writing your will or trust and wish to leave your assets to loved ones, it’s important to get the wording correct. But you must also periodically update your will or trust to ensure your legacies are still valid.
Below are 3 types of legacies you will find in a will or trust:
As you can see, the wording of your will matters. That is why working with an experienced estate planning attorney is crucial. Properly wording your will or trust will help reduce misunderstandings of your legacy.
An Illinois estate planning lawyer can help you write a will or trust that will follow your wishes and pass your legacy as you decide. To talk to a qualified attorney in the Chicago area, contact the Estate & Probate Legal Group at 630-864-5835.
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