Will

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What is a will?

A Will (Last Will and Testament) is considered to be a legal document that an individual has drafted that dictates how they want their estate to be managed after their death. A Will is a written document which allows you to name guardians for your dependent children. A Will will allow you to name the executor (male) or executrix (female), that will be in charge of all of your estates needs. Without a valid Will in place, the courts can and will decide for you what happens to your wealth and who is ultimately responsible for your dependents. When you decide on an executor or executrix, you should pick one that you completely trust with your afterlife affairs. You will also need to let this person know exactly how you want your estate distributed. Filing your tax returns, and taking care of any debts that are owed to creditors are also tasks that your representatives will be responsible for.

What are the benefits to a will?

Having a Will in place when you die is important. One benefit of having a Will in place is it means an individual(s) and not the State decides how your estate will be distributed. A Will can provide peace of mind for both you and your family and friends because you are ensuring that the people you love are provided for when you are gone. A Will can allow you to leave items of sentimental value to whomever you choose. Depending on the value of your estate, there may be some other planning that along with your Will may be necessary to prevent your estate from being attacked or contested. Some other benefits of having a Will in place is you may be able appoint guardians for your dependents and pets, and you can also decide who is going to administer your affairs in regards to your Will. You can also specify your wishes for your funeral as part of your "final disposition document. These are just a few considerations when deciding to ensure a Will is in place when you die. You can contact Estate Planning Associates to find out what particular benefits may be best for you and your loved ones.


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