HEIR PROPERTY - You don't need Wealth to Need a Will.

Many people mistakenly believe that they must have a certain amount of money before they develope an estate plan. If you are breathing you need an estate plan! A majority of my clients, especially elderly cleints, have become "land rich" by accumulating a large portfolio of real property over the year, that could be worth a substantial amout of money, but that's only secondary. Time and time again I have clients come in with acres of real property left by a mom or grandparent who did not have an estate plan. It never fails that after I gather all the facts, their are so many heirs of the property that it is almost impossible to develop a reasonable plan for the real estate. Many times the family cannot agree with what to do with the property. Some want to sell it and others what to rent it out and others would rather live in it. Many times the property taxes are not current or only one person is paying the property taxes. Soon the property is sold in a tax sale, leaving nothing to the heirs . The effect of not having a lat will and testament to resolve these issue could be detrimental to the conhesiveness and financial distaster to the family. Having a last will and testment will designate who should have ownerhisp and control of the property, provide a peace of mind for the family, and save maybe the most valuable thing a loved one possessed.