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Why would I need more than a "Simple Will" if my assets are not substantial?
One of the most important parts of planning is to plan for ourselves and our loved ones while we are alive. Appropriate estate planning does much more than determine where property would go after our demise. In the unfortunate event of our lifetime disability or incapacity, lengthy probate proceedings sometimes called "living probate" would be undertaken by Guardianship or Conservatorship Petition(s) in Probate Court to provide for ourselves during our lifetime. This process could be as cumbersome and time-consuming as the "death probate proceedings" in probating a Will.
Also, keep in mind that in providing all of your planning in a "Will" means you are requiring that your plan go through the Probate Court because effectuating a Will means probating the Will and using the Probate Court for death administration.
Additionally, a Will very often does not direct where many of our large assets will be disposed of, such as life insurance, retirement benefits, true joint property and the like. Accordingly, an integrated Life and Estate Plan most often utilizes much more than the drafting of a "Simple Will," albeit a well drafted will certainly is part of the process.
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