How to Write A Will That Works For You

They’re many solutions nowadays to creating a Will.  Some of which don’t require you to even talk to anyone. However, a big perk to working with an attorney to assist with drafting a Will is that you have the opportunity to discuss and understand items that will almost certainly otherwise be overlooked. Here are a few examples:

Powers of Attorney

In the event of an unforeseeable accident, it’s important that everyone have an established way to communicate their wishes for end-of-life care.  

Student Loan Debt

Student loan debt, for millennials especially (yes, millennials should consider a Will too!), do not want to burden their living family with their debt.  What they may not know, however, is that student debt is not always automatically forgiven at death. While a few private lenders have policies that forgive debt in the event of death, this is not the norm. For many private student loans, responsibility transfers to a spouse or a parent if the lender is unable to pay. 

Digital Assets

A new and developing area of law. Digital assets can include photos stored in iCloud, Facebook account, blogs, and cryptocurrency (Bitcoin, Ethereum, Litecoin, Etc.). When individuals try to allocate/plan for digital assets on their own, they don’t realize that they are running up against lengthy and detailed terms of service agreements. There is an entire legal regime in Colorado that actually controls the ability to access digital assets during incapacity and after death called the Revised Uniform Access to Digital Assets Act (RUFADAA). 

Having someone guiding you along the way while developing an important document and understands the ins-and-outs is very helpful and will save you and your family a lot of time and stress