Estate planning in Delaware offers individuals a chance to secure their assets, ensure proper guardianship of minors, and create a legacy for their loved ones. This guide delves into the essentials of estate planning in Delaware, providing practical advice and tools like the Wills App to simplify and automate the process.

1. Legal Documents Used in Estate Planning

• Wills: The cornerstone of any estate plan, specifying asset distribution and guardianship for minor children.
• Trusts: Useful for avoiding probate and managing assets efficiently for beneficiaries.
• Powers of Attorney: Assigns a trusted person to manage financial and legal matters if you become incapacitated.
• Healthcare Directives: Outlines medical care preferences and appoints a healthcare proxy.
• State-Specific Documents: Documents like Delaware Advance Healthcare Directives and deeds tailored to state laws.

2. Remote Online Notarization (RON)

Delaware allows Remote Online Notarization (RON), streamlining the estate planning process. To use RON:

• Both the notary and the signer must appear virtually through secure video conferencing.
• Documents must meet the state’s digital signature and record-keeping standards.
• Notaries must be authorized to perform RON in Delaware.

3. Guardianship Assignment

Guardianship laws in Delaware ensure that minor children or incapacitated individuals are cared for:

• Guardianship can be specified in a will.
• The court reviews and approves the guardian to confirm suitability.
• Backup guardians can be named for added security.

4. Inheritance for Foreigners

Non-residents and foreigners can inherit assets in Delaware, but certain considerations apply:

• Federal estate tax implications may apply to non-citizens.
• Inheritance rights are recognized, but tax treaties may affect cross-border inheritance.
• Consulting a tax attorney is advisable for foreign nationals.

5. Probate Rules and Costs

Delaware’s probate process ensures the orderly distribution of assets:

• Probate typically takes 6-12 months, depending on the estate’s complexity.
• Costs range from 3-7% of the estate’s value, including court and attorney fees.
• Simplified probate processes are available for smaller estates under a specified value.

6. Legal and Professional Costs

Estate planning costs in Delaware include:

• Attorney Fees: Drafting wills and trusts costs between $1,200 and $4,000, depending on complexity.
• Notary Services: In-person notarizations average $10-$20, while RON services cost $25-$50 per document.

7. Unique State Laws

Delaware offers unique legal advantages for estate planning:

• Favorable trust laws protect assets and provide privacy.
• No state-level estate or inheritance taxes for residents.
• Homestead protections shield primary residences from certain claims.

8. Introduction to Ethical Wills

Ethical wills are a powerful way to pass on values, life lessons, and personal beliefs. With the Wills App, you can:

• Record video messages or write letters for your loved ones.
• Share family traditions and meaningful stories.
• Ensure that your personal legacy endures beyond material possessions.

9. The Wills App for Estate Planning Automation

The Wills App simplifies estate planning with advanced features:

• Vault Storage: Securely store critical documents like wills and trusts.
• Automated Distribution: Ensure assets are distributed as intended with inactivity triggers.
• Wellness Checks: Regularly confirm your status before executing your plan.
• Cross-Border Functionality: Manage assets seamlessly across states and countries.

10. Practical Storage Advice

Secure your estate planning documents with these tips:

• Store physical copies in a fireproof and waterproof safe.
• Share access details with a trusted individual.
• Use the Wills App for digital backups and automated distributions.

Call to Action

Take control of your legacy today. Download the Wills App from Wills.com to simplify your estate planning, secure your documents, and automate your legacy management.