The Importance of Having a Will

My first set of blog posts will begin with a four-part series of articles dedicated to providing the community with information regarding specific estate planning documents, forms, and what to do with the information.  This article provides you with basic information regarding Wills.

 THE IMPORTANCE OF HAVING A WILL

 What Is A Will?                                               

 A Will is a legal document that allows you to designate who you want to receive your property upon your death.  If you die without a Will, State statutes will control the distribution of your estate.  You will have no control over who will receive your property, who will be appointed guardian of your minor children, and many other conditions that are governed by State law.

 Why Do I Need A Will?

 A Will allows you to control the following things with regard to your estate at your death:

 •              Designate a guardian for your minor children.

 •              Provide funeral and burial instructions.

 •              Give specific property, such as a cabin, to a specific person.

 •              Leave specific dollar amounts to specific organizations, such as a church or charity.

 •              Create a trust for the benefit of your minor children to have assets managed beyond age 18 or 21.

 •              Designate an executor to handle the administration of your estate.

 •              Leave property to non-relatives.

 What Steps Should I Take To Have My Will Drafted?

 You should contact an attorney if you are interested in setting up a Will.  I do not recommend trying to figure out complicated world of Wills on your own. An attorney will have the most up to date estate planning information. An attorney will also discuss your concerns regarding family, assets, and distribution, as well as, investigate potential tax issues, nursing home concerns, and probate concerns.

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Jennifer A. Williams, is the owner of The Law Office of Jennifer A. Williams, PLLC.

* DISCLAIMER: This blog is for general informational purposes only. In no way shall this blog constitute legal advice or substitution for legal counsel – and should not be relied upon as such. The information contained in this blog is not promised to reflect the most current legal developments; accordingly, information found here is not promised or guaranteed to be correct or complete. As legal advice must be tailored to the specific circumstances of each case, nothing provided in this blog should be used as a substitute for advice of competent counsel.