The WillThe Will The will is the most basic part of every estate plan. By definition, it is a legal declaration of a person's wishes regarding the disposal and distribution of his or her estate after death. The will is the legal document drafted during your lifetime that addresses numerous issues:
In the absence of a will, the state will resort to a formula. A judge will name an executor, bond may have to be posted, the court will name a guardian for any minor children, and a formula will determine asset and property distribution. Every state has different laws and regulations when it comes to the execution and validity of a will, and they are often strict. Be sure to retain a competent lawyer who is familiar with the laws of your state of residence to draft your will. Wills & Trusts Teleconference | Overview of Estate Planning | How to Get Started Information on this site is NOT intended for legal advice. See Disclaimer |
