{"id":1542,"date":"2020-02-28T17:02:54","date_gmt":"2020-02-28T17:02:54","guid":{"rendered":"https:\/\/areslaw.ca\/parry-sound\/?p=1542"},"modified":"2020-02-28T17:03:11","modified_gmt":"2020-02-28T17:03:11","slug":"3-ways-to-ease-inheritance-process-for-family","status":"publish","type":"post","link":"https:\/\/areslaw.ca\/parry-sound\/3-ways-to-ease-inheritance-process-for-family\/","title":{"rendered":"3 Ways to Ease the Inheritance Process for your Family"},"content":{"rendered":"\n<p>It\u2019s hard to think about life after death,\nbut planning your will and estate is a natural part of life. In constructing\nyour plans have you thought about what the inheritance process will be like for\nyour beneficiaries? If you don\u2019t have a proper plan for your estate or you\ndon\u2019t have a will created, the inheritance process can be extremely stressful.\nWhen you pass away, don\u2019t leave your family with the stress of dragging out the\nprocess of their inheritance dealing with probate. With an effective will and estate\nplan in place, you can ease the overall inheritance procedure for your family\nand shorten the probate process which can be very trying at any time let alone\nwhile grieving. These simple tips can help ensure your family will receive\ntheir inheritance with as little stress throughout the process as possible. <\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Think ahead and remember\nto update your will occasionally<\/strong><\/li><\/ol>\n\n\n\n<p>Planning your will and estate is not a\none-time event. It\u2019s critical to remember to update your will and estate plan\nin the event of any big lifestyle changes that may impact how your assets are\npassed down. Keep the information in your will up to date by adding or\nrecreating parts of your will as life changes. <\/p>\n\n\n\n<p>In fact, there are many different factors\nthat can impact your will including: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>If someone named in your will\nor the appointed executor of your will passes away.<\/li><li>If you sell or donate any of\nyour major assets before you pass.<\/li><li>If you get either remarried or\ndivorced<\/li><li>If you have new children or\ngrandchildren that need to be added to the will. <\/li><li>If you have dependents that are\nabove the age of 18. <\/li><\/ul>\n\n\n\n<p>All of these factors and more can impact\nyour will and estate and how it\u2019s executed. If you don\u2019t keep this information\nup to date, it can slow down the probate process and affect the timeliness of\nyour beneficiaries receiving their inheritances. It\u2019s also very important to be\nas clear as possible when naming people in your will. If anything or anyone\nnamed in your will is unclear, it will again slow down the process even more.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>&nbsp;Liquid assets are easier and quicker to manage<\/strong><\/li><\/ul>\n\n\n\n<p>Don\u2019t forget the value of your liquid\nassets. When you create your will and estate plan, think about any debt you may\nowe at the time of your passing. For example, if you owe anything on your\nestate, that debt must be paid off before it can be distributed to any of your\nbeneficiaries. If you create a will without realizing this and without enough\nin liquid assets to pay off the debt, it will only create more work for your\nexecutor and elongate the settlement process. If you don\u2019t have enough liquid\nassets to cover those costs your executor will have to sell some of your other\nnon-liquid assets in order to cover the cost of the debt \u2013 and this may be assets\nyou didn\u2019t originally plan on selling. <\/p>\n\n\n\n<p>Also, remember to note that there are\nspecific types of assets that don\u2019t have to go through the probate process. These\ntypes of assets are great because your beneficiaries will have immediate access\nto them when you pass away. This is especially important to keep in mind when\ncreating your will if you have a family to support. If you have dependents who\nrely on the money you leave behind in order to pay bills and assist in their\nlivelihood, having these non-probate assets liquidated beforehand speeds up the\ntimeliness of receiving their inheritance, so they can use the money right\naway.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Work with someone who knows how to properly plan a will and estate. <\/strong><\/li><\/ul>\n\n\n\n<p>Although DIY projects are great, your will and estate plan should not be one of them. If you want to feel secure knowing that all your assets are being passed down to the right people and the inheritance process will be easy for them, work with our experienced team at Ares Law. With our expertise, we can show you how to create an effective plan for your will and estate and ensure there are few delays in the inheritance process for your family. If it\u2019s time you review your will or you want to create a new one give us a call at <a href=\"tel:7057466444\">(705) 746-6444<\/a> and let\u2019s ensure that your will and estate plan is up to date. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s hard to think about life after death, but planning your will and estate is a natural part of life. In constructing your plans have you thought about what the inheritance process will be like for your beneficiaries? If you don\u2019t have a proper plan&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[27,29],"tags":[116,227,215,226,225,91,228],"class_list":["post-1542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-law","category-wills-estates","tag-ares-law","tag-creating-a-will","tag-estate-plan","tag-inheritance","tag-liquid-assets","tag-probate","tag-will-and-estate-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>3 Ways to Ease the Inheritance Process for your Family - Ares Law<\/title>\n<meta name=\"description\" content=\"If it\u2019s time for you to review your will or you are thinking about creating one, these tips will help ensure that your inheritance...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/areslaw.ca\/parry-sound\/3-ways-to-ease-inheritance-process-for-family\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 Ways to Ease the Inheritance Process for your Family - Ares Law\" \/>\n<meta property=\"og:description\" content=\"If it\u2019s time for you to review your will or you are thinking about creating one, these tips will help ensure that your inheritance...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/areslaw.ca\/parry-sound\/3-ways-to-ease-inheritance-process-for-family\/\" \/>\n<meta property=\"og:site_name\" content=\"Ares Law Parry Sound &amp; 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